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

Red Rock Resorts, Inc. (NASDAQ:RRR) has earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $61.67.

RRR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Red Rock Resorts from $63.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Wells Fargo & Company upped their price objective on shares of Red Rock Resorts from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Macquarie upgraded shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $51.00 to $58.00 in a research report on Wednesday, January 17th. JMP Securities upped their price objective on shares of Red Rock Resorts from $61.00 to $66.00 and gave the stock a “market outperform” rating in a research report on Friday, April 19th. Finally, Mizuho began coverage on shares of Red Rock Resorts in a research report on Tuesday, March 26th. They issued a “buy” rating and a $69.00 price objective on the stock.

Insider Buying and Selling at Red Rock Resorts

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total transaction of $434,204.80. Following the completion of the transaction, the chief financial officer now owns 243,808 shares of the company’s stock, valued at $14,077,473.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 53.28% of the company’s stock.

Hedge Funds Weigh In On Red Rock Resorts

Several large investors have recently modified their holdings of RRR. Virtu Financial LLC bought a new stake in Red Rock Resorts in the 4th quarter worth about $212,000. Core Wealth Partners LLC bought a new stake in Red Rock Resorts in the 4th quarter worth about $213,000. Malaga Cove Capital LLC bought a new stake in Red Rock Resorts in the 3rd quarter worth about $242,000. Valeo Financial Advisors LLC bought a new stake in Red Rock Resorts in the 4th quarter worth about $255,000. Finally, VELA Investment Management LLC bought a new stake in Red Rock Resorts in the 4th quarter worth about $256,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

NASDAQ RRR opened at $54.37 on Tuesday. The company has a market cap of $5.72 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 2.77 and a beta of 2.08. Red Rock Resorts has a 52 week low of $37.82 and a 52 week high of $63.28. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 13.54. The firm’s 50-day simple moving average is $57.88 and its two-hundred day simple moving average is $52.19.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.40 by $0.55. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The business had revenue of $462.71 million for the quarter, compared to the consensus estimate of $440.75 million. During the same period in the prior year, the firm earned $1.00 earnings per share. The company’s revenue was up 8.8% compared to the same quarter last year. Research analysts predict that Red Rock Resorts will post 1.92 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Thursday, March 14th. Red Rock Resorts’s payout ratio is 33.90%.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.