Red Rock Resorts (NASDAQ:RRR) Research Coverage Started at Mizuho

Mizuho started coverage on shares of Red Rock Resorts (NASDAQ:RRR) in a report released on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $69.00 price target on the stock.

Several other equities analysts also recently commented on RRR. Truist Financial upped their price objective on shares of Red Rock Resorts from $46.00 to $55.00 and gave the company a hold rating in a research note on Wednesday, December 20th. Barclays lifted their price objective on Red Rock Resorts from $60.00 to $62.00 and gave the stock an overweight rating in a research report on Thursday, February 8th. Morgan Stanley upped their target price on Red Rock Resorts from $48.00 to $51.00 and gave the company an equal weight rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. lifted their price target on shares of Red Rock Resorts from $53.00 to $63.00 and gave the company an overweight rating in a report on Thursday, February 8th. Finally, Stifel Nicolaus upped their price objective on shares of Red Rock Resorts from $47.00 to $54.00 and gave the stock a hold rating in a report on Thursday, December 21st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $60.27.

Red Rock Resorts Stock Performance

Red Rock Resorts stock opened at $59.82 on Tuesday. The stock has a market cap of $6.29 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 4.08 and a beta of 2.06. The company has a debt-to-equity ratio of 13.54, a quick ratio of 0.76 and a current ratio of 0.81. Red Rock Resorts has a fifty-two week low of $37.82 and a fifty-two week high of $60.59. The firm’s fifty day moving average price is $56.71 and its 200-day moving average price is $49.25.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.55. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The business had revenue of $462.71 million for the quarter, compared to analysts’ expectations of $440.75 million. During the same period in the previous year, the firm earned $1.00 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities research analysts expect that Red Rock Resorts will post 1.9 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

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. The ex-dividend date was Thursday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.67%. Red Rock Resorts’s payout ratio is 33.90%.

Insider Buying and Selling

In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total value of $434,204.80. Following the sale, the chief financial officer now directly owns 243,808 shares of the company’s stock, valued at approximately $14,077,473.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 54.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Red Rock Resorts

Institutional investors and hedge funds have recently modified their holdings of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of Red Rock Resorts during the first quarter valued at approximately $30,000. Lazard Asset Management LLC purchased a new stake in Red Rock Resorts during the 4th quarter valued at $34,000. KBC Group NV bought a new stake in shares of Red Rock Resorts in the 4th quarter worth $56,000. Tower Research Capital LLC TRC raised its stake in shares of Red Rock Resorts by 601.1% in the first quarter. Tower Research Capital LLC TRC now owns 1,283 shares of the company’s stock worth $57,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Red Rock Resorts during the second quarter valued at $92,000. 47.84% of the stock is currently owned by institutional investors.

About Red Rock Resorts

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.