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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRRGet Free Report) have earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $61.58.

Several equities research analysts recently issued reports on RRR shares. Barclays cut their price objective on shares of Red Rock Resorts from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Mizuho cut their price objective on shares of Red Rock Resorts from $69.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Bank of America upgraded shares of Red Rock Resorts from an “underperform” rating to a “neutral” rating and cut their price objective for the stock from $57.00 to $55.00 in a research report on Monday, May 13th. Stifel Nicolaus cut their price objective on shares of Red Rock Resorts from $61.00 to $59.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Red Rock Resorts from $63.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st.

View Our Latest Stock Report on RRR

Insider Buying and Selling at Red Rock Resorts

In related news, CEO Frank J. Fertitta III sold 800,000 shares of Red Rock Resorts stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $50.39, for a total value of $40,312,000.00. Following the completion of the transaction, the chief executive officer now owns 45,847,301 shares in the company, valued at $2,310,245,497.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 53.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Bamco Inc. NY lifted its stake in Red Rock Resorts by 0.5% in the first quarter. Bamco Inc. NY now owns 10,409,100 shares of the company’s stock worth $622,672,000 after acquiring an additional 50,246 shares during the last quarter. FMR LLC lifted its stake in Red Rock Resorts by 46.4% in the third quarter. FMR LLC now owns 5,249,335 shares of the company’s stock worth $215,223,000 after acquiring an additional 1,663,839 shares during the last quarter. Vanguard Group Inc. lifted its stake in Red Rock Resorts by 4.3% in the first quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock worth $307,292,000 after acquiring an additional 209,593 shares during the last quarter. Eminence Capital LP lifted its stake in Red Rock Resorts by 21.1% in the fourth quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock worth $126,582,000 after acquiring an additional 413,871 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in Red Rock Resorts by 2.4% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,386,676 shares of the company’s stock worth $73,951,000 after acquiring an additional 32,427 shares during the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Stock Performance

NASDAQ:RRR opened at $52.80 on Wednesday. The company’s 50-day moving average price is $52.82 and its 200-day moving average price is $54.36. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 18.49. The company has a market cap of $5.58 billion, a P/E ratio of 18.33, a P/E/G ratio of 2.47 and a beta of 2.00. Red Rock Resorts has a twelve month low of $37.82 and a twelve month high of $63.28.

Red Rock Resorts (NASDAQ:RRRGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.18. The firm had revenue of $488.90 million for the quarter, compared to the consensus estimate of $490.49 million. Red Rock Resorts had a net margin of 9.79% and a return on equity of 98.44%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. On average, sell-side analysts forecast that Red Rock Resorts will post 1.82 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Friday, June 14th. Red Rock Resorts’s dividend payout ratio is presently 34.72%.

About Red Rock Resorts

(Get Free Report

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.

Further Reading

Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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