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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $66.4286.

RRR has been the topic of several research reports. Citigroup restated an “outperform” rating on shares of Red Rock Resorts in a report on Wednesday, January 14th. Citizens Jmp increased their price objective on shares of Red Rock Resorts from $65.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 14th. Macquarie lifted their target price on shares of Red Rock Resorts from $67.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Susquehanna upped their price target on shares of Red Rock Resorts from $68.00 to $69.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company started coverage on Red Rock Resorts in a report on Tuesday, November 18th. They issued an “equal weight” rating and a $58.00 price target for the company.

Institutional Trading of Red Rock Resorts

Several large investors have recently bought and sold shares of the company. Yousif Capital Management LLC acquired a new position in shares of Red Rock Resorts during the fourth quarter worth $454,000. Philip James Wealth Mangement LLC acquired a new position in Red Rock Resorts in the 4th quarter worth $878,000. SG Americas Securities LLC boosted its position in Red Rock Resorts by 135.4% in the 4th quarter. SG Americas Securities LLC now owns 25,397 shares of the company’s stock valued at $1,573,000 after buying an additional 14,608 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Red Rock Resorts by 53.8% during the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after acquiring an additional 263 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Red Rock Resorts by 92.9% during the third quarter. JPMorgan Chase & Co. now owns 180,185 shares of the company’s stock worth $11,002,000 after acquiring an additional 86,770 shares during the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Stock Up 1.2%

Shares of RRR opened at $62.17 on Thursday. Red Rock Resorts has a fifty-two week low of $35.09 and a fifty-two week high of $64.69. The company’s fifty day moving average is $60.22 and its two-hundred day moving average is $59.19. The firm has a market cap of $6.58 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 2.61 and a beta of 1.50. 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, October 28th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.32. The firm had revenue of $475.57 million for the quarter, compared to analysts’ expectations of $477.25 million. Red Rock Resorts had a return on equity of 59.86% and a net margin of 9.52%.The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share. Analysts forecast that Red Rock Resorts will post 1.76 earnings per share for the current year.

Red Rock Resorts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, December 15th. This is a positive change from Red Rock Resorts’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.7%. Red Rock Resorts’s dividend payout ratio (DPR) is currently 33.12%.

Red Rock Resorts announced that its board has initiated a share repurchase plan on Tuesday, October 28th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 4.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Red Rock Resorts Company Profile

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.