Red Rock Resorts, Inc. (NASDAQ:RRR) Receives Average Recommendation of “Hold” from Analysts

Red Rock Resorts, Inc. (NASDAQ:RRR) has received an average rating of “Hold” from the twelve research firms that are covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $58.08.

Several equities analysts have commented on RRR shares. JMP Securities dropped their target price on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Mizuho downgraded shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $57.00 to $44.00 in a research report on Monday, November 25th. Jefferies Financial Group restated a “hold” rating and issued a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Barclays cut their price target on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Truist Financial decreased their price objective on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a report on Tuesday, January 14th.

Red Rock Resorts Trading Down 1.3 %

Shares of Red Rock Resorts stock opened at $47.73 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 12-month low of $42.46 and a 12-month high of $63.28. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 5.14 and a beta of 2.01. The firm’s 50-day moving average price is $47.47 and its two-hundred day moving average price is $52.01.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Thursday, November 7th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.11. The firm had revenue of $468.02 million for the quarter, compared to the consensus estimate of $460.73 million. Red Rock Resorts had a return on equity of 73.20% and a net margin of 8.59%. During the same quarter last year, the business posted $0.60 EPS. On average, analysts forecast that Red Rock Resorts will post 1.44 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.10%. Red Rock Resorts’s payout ratio is presently 37.04%.

Institutional Trading of Red Rock Resorts

A number of large investors have recently added to or reduced their stakes in RRR. GSA Capital Partners LLP bought a new position in shares of Red Rock Resorts during the 3rd quarter worth $842,000. Barclays PLC boosted its position in Red Rock Resorts by 227.9% during the third quarter. Barclays PLC now owns 78,932 shares of the company’s stock worth $4,297,000 after purchasing an additional 54,863 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of Red Rock Resorts by 3.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock worth $61,763,000 after purchasing an additional 38,443 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Red Rock Resorts by 18.9% in the third quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company’s stock valued at $4,856,000 after purchasing an additional 14,148 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Red Rock Resorts by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after buying an additional 14,029 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

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.