Red Rock Resorts, Inc. (NASDAQ:RRR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Red Rock Resorts, Inc. (NASDAQ:RRR) has earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $70.7143.

RRR has been the topic of several recent research reports. Barclays upped their price objective on Red Rock Resorts from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Susquehanna increased their price objective on shares of Red Rock Resorts from $69.00 to $77.00 and gave the company a “positive” rating in a research report on Wednesday. Citigroup lifted their price objective on shares of Red Rock Resorts from $63.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday. Stifel Nicolaus upped their target price on shares of Red Rock Resorts from $71.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Mizuho set a $77.00 price target on shares of Red Rock Resorts in a report on Wednesday.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RRR. Salomon & Ludwin LLC bought a new stake in shares of Red Rock Resorts in the 4th quarter worth about $25,000. Kestra Advisory Services LLC purchased a new stake in Red Rock Resorts in the 4th quarter worth about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Red Rock Resorts by 230.5% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552 shares of the company’s stock worth $29,000 after purchasing an additional 385 shares during the last quarter. Strs Ohio purchased a new position in shares of Red Rock Resorts during the third quarter valued at approximately $37,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Red Rock Resorts during the second quarter valued at approximately $42,000. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Down 0.8%

Shares of RRR stock opened at $61.60 on Monday. The company’s fifty day simple moving average is $62.27 and its two-hundred day simple moving average is $60.15. Red Rock Resorts has a 52 week low of $35.09 and a 52 week high of $68.99. The stock has a market cap of $6.52 billion, a P/E ratio of 19.68, a PEG ratio of 2.72 and a beta of 1.49. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 10.11.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.34. Red Rock Resorts had a return on equity of 58.12% and a net margin of 9.35%.The firm had revenue of $511.78 million for the quarter, compared to analysts’ expectations of $500.90 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. Analysts predict that Red Rock Resorts will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $0.26 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.7%. Red Rock Resorts’s payout ratio is 33.23%.

Red Rock Resorts declared that its Board of Directors has approved a share buyback program on Tuesday, October 28th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

About Red Rock Resorts

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.