Red Rock Resorts (NASDAQ:RRR) Now Covered by Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of Red Rock Resorts (NASDAQ:RRR) in a research note released on Wednesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $73.00 target price on the stock.

A number of other equities analysts have also recently issued reports on RRR. Weiss Ratings upgraded shares of Red Rock Resorts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. The Goldman Sachs Group reissued a “buy” rating and issued a $73.00 target price on shares of Red Rock Resorts in a research note on Wednesday, July 15th. UBS Group set a $75.00 price target on shares of Red Rock Resorts in a research report on Thursday, July 2nd. Wall Street Zen raised Red Rock Resorts from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Barclays boosted their price target on Red Rock Resorts from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.94.

Red Rock Resorts Price Performance

Shares of RRR stock opened at $56.84 on Wednesday. Red Rock Resorts has a 12 month low of $50.52 and a 12 month high of $68.99. The company has a market capitalization of $5.97 billion, a P/E ratio of 20.08, a P/E/G ratio of 4.60 and a beta of 1.31. The stock has a 50 day moving average of $63.05 and a two-hundred day moving average of $59.48. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 12.33.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.16. The business had revenue of $510.26 million for the quarter, compared to analysts’ expectations of $500.08 million. Red Rock Resorts had a return on equity of 56.19% and a net margin of 8.43%.Red Rock Resorts’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 earnings per share. As a group, equities analysts expect that Red Rock Resorts will post 1.54 EPS for the current year.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.04 annualized dividend and a yield of 1.8%. Red Rock Resorts’s dividend payout ratio is 36.75%.

Insider Buying and Selling

In other Red Rock Resorts news, President Scott Kreeger sold 31,159 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $61.78, for a total value of $1,925,003.02. Following the completion of the sale, the president owned 203,881 shares in the company, valued at approximately $12,595,768.18. This trade represents a 13.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 54.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC bought a new position in Red Rock Resorts in the 4th quarter valued at $27,000. Rockefeller Capital Management L.P. raised its position in shares of Red Rock Resorts by 1,924.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock worth $31,000 after acquiring an additional 481 shares during the last quarter. Nykredit A S acquired a new position in shares of Red Rock Resorts during the second quarter valued at $45,000. Public Employees Retirement System of Ohio bought a new position in Red Rock Resorts in the second quarter valued at about $47,000. Finally, Ameritas Advisory Services LLC bought a new position in Red Rock Resorts in the second quarter valued at about $52,000. Institutional investors own 47.84% of the company’s stock.

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.