Red Rock Resorts, Inc. (NASDAQ:RRR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR – Get Free Report) have been given an average recommendation of “Moderate Buy” by the eighteen ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $71.8824.

Several analysts recently issued reports on the stock. Citigroup restated a “buy” rating on shares of Red Rock Resorts in a research report on Wednesday. Zacks Research cut shares of Red Rock Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Barclays boosted their price objective on shares of Red Rock Resorts from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday. Wall Street Zen raised Red Rock Resorts from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Finally, UBS Group set a $75.00 target price on Red Rock Resorts in a research report on Thursday, July 2nd.

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Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bamco Inc. NY raised its stake in Red Rock Resorts by 2.0% during the 4th quarter. Bamco Inc. NY now owns 12,519,892 shares of the company’s stock worth $775,607,000 after acquiring an additional 250,725 shares during the period. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Red Rock Resorts in the second quarter worth approximately $120,743,000. State Street Corp boosted its position in shares of Red Rock Resorts by 62.1% in the fourth quarter. State Street Corp now owns 1,814,812 shares of the company’s stock worth $112,428,000 after purchasing an additional 695,575 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Red Rock Resorts by 2,248.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock worth $82,715,000 after purchasing an additional 1,296,956 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in shares of Red Rock Resorts by 7.4% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,207,404 shares of the company’s stock worth $74,799,000 after purchasing an additional 82,849 shares in the last quarter. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Price Performance

RRR stock opened at $61.88 on Monday. Red Rock Resorts has a fifty-two week low of $50.52 and a fifty-two week high of $68.99. The business’s 50-day moving average is $62.93 and its two-hundred day moving average is $59.82. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 4.58 and a beta of 1.36.

Red Rock Resorts (NASDAQ:RRR – Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.16. Red Rock Resorts had a return on equity of 55.65% and a net margin of 8.43%.The business had revenue of $510.26 million for the quarter, compared to analysts’ expectations of $500.08 million. During the same period last year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, analysts forecast that Red Rock Resorts will post 1.5 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.7%. Red Rock Resorts’s dividend payout ratio (DPR) is 36.75%.

Red Rock Resorts Company Profile

(Get Free Report)

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.

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