Shares of Red Rock Resorts Inc (NASDAQ:RRR) have earned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $31.50.
Several equities research analysts have recently commented on RRR shares. Zacks Investment Research downgraded shares of Red Rock Resorts from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 14th. Deutsche Bank reissued a “buy” rating and issued a $30.00 target price on shares of Red Rock Resorts in a research report on Wednesday, February 13th. BidaskClub downgraded Red Rock Resorts from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Finally, Nomura raised their target price on Red Rock Resorts to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, February 13th.
RRR opened at $27.47 on Friday. The stock has a market cap of $3.11 billion, a PE ratio of 20.97 and a beta of 2.14. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.74 and a current ratio of 0.79. Red Rock Resorts has a 52-week low of $18.78 and a 52-week high of $36.99.
Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, February 12th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. Red Rock Resorts had a net margin of 9.37% and a return on equity of 12.06%. The company had revenue of $431.47 million during the quarter, compared to analysts’ expectations of $408.61 million. During the same period last year, the business earned $0.35 EPS. Red Rock Resorts’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts anticipate that Red Rock Resorts will post 1.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 14th were issued a $0.10 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.40 annualized dividend and a yield of 1.46%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 30.53%.
In other Red Rock Resorts news, insider Joseph J. Hasson sold 31,628 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $26.42, for a total value of $835,611.76. Following the sale, the insider now directly owns 13,921 shares of the company’s stock, valued at $367,792.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph J. Hasson sold 56,300 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $25.74, for a total transaction of $1,449,162.00. The disclosure for this sale can be found here. Insiders have sold a total of 131,721 shares of company stock valued at $3,487,693 over the last three months. 0.40% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can boosted its stake in shares of Red Rock Resorts by 47.5% in the fourth quarter. Bank of Montreal Can now owns 1,437 shares of the company’s stock worth $29,000 after buying an additional 463 shares during the last quarter. Quantamental Technologies LLC acquired a new position in Red Rock Resorts in the fourth quarter valued at approximately $142,000. MML Investors Services LLC acquired a new position in Red Rock Resorts in the third quarter valued at approximately $203,000. Fox Run Management L.L.C. purchased a new stake in Red Rock Resorts in the 4th quarter worth approximately $203,000. Finally, Amalgamated Bank purchased a new stake in Red Rock Resorts in the 4th quarter worth approximately $206,000. Institutional investors and hedge funds own 63.61% of the company’s stock.
Red Rock Resorts Company Profile
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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