Red Rock Resorts, Inc. (NASDAQ:RRR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $63.50.

A number of research analysts have weighed in on the stock. Morgan Stanley boosted their price objective on shares of Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Stifel Nicolaus upped their price target on shares of Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Wells Fargo & Company downgraded shares of Red Rock Resorts from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $63.00 to $64.00 in a research note on Wednesday, July 24th. Susquehanna boosted their target price on Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. Finally, Barclays increased their price target on Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th.

Insider Transactions at Red Rock Resorts

In related news, CEO Frank J. Fertitta III purchased 67,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $54.49 per share, for a total transaction of $3,650,830.00. Following the acquisition, the chief executive officer now owns 45,914,301 shares of the company’s stock, valued at approximately $2,501,870,261.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Red Rock Resorts news, VP Lorenzo J. Fertitta purchased 33,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was bought at an average cost of $54.49 per share, for a total transaction of $1,798,170.00. Following the completion of the purchase, the vice president now owns 47,480,301 shares in the company, valued at approximately $2,587,201,601.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank J. Fertitta III purchased 67,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were acquired at an average price of $54.49 per share, for a total transaction of $3,650,830.00. Following the purchase, the chief executive officer now directly owns 45,914,301 shares of the company’s stock, valued at approximately $2,501,870,261.49. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 200,000 shares of company stock valued at $10,426,000. Company insiders own 53.28% of the company’s stock.

Institutional Trading of Red Rock Resorts

A number of institutional investors have recently bought and sold shares of the stock. Bamco Inc. NY raised its stake in Red Rock Resorts by 0.5% in the 1st quarter. Bamco Inc. NY now owns 10,409,100 shares of the company’s stock worth $622,672,000 after acquiring an additional 50,246 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Red Rock Resorts by 4.3% in the first quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock valued at $307,292,000 after purchasing an additional 209,593 shares during the period. Eminence Capital LP raised its stake in shares of Red Rock Resorts by 21.1% in the fourth quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock worth $126,582,000 after purchasing an additional 413,871 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Red Rock Resorts by 26.7% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock worth $65,706,000 after purchasing an additional 251,855 shares during the period. Finally, Capital World Investors purchased a new stake in Red Rock Resorts in the fourth quarter valued at approximately $24,897,000. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Trading Down 0.6 %

RRR opened at $54.12 on Friday. The stock has a 50-day moving average of $55.09 and a 200 day moving average of $55.12. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 15.15. Red Rock Resorts has a 12 month low of $37.82 and a 12 month high of $63.28. The firm has a market cap of $5.72 billion, a P/E ratio of 18.79, a P/E/G ratio of 5.47 and a beta of 2.04.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, July 23rd. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. The firm had revenue of $486.40 million during the quarter, compared to analysts’ expectations of $475.80 million. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. The company’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. As a group, research analysts forecast that Red Rock Resorts will post 1.66 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, September 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. Red Rock Resorts’s dividend payout ratio is currently 34.72%.

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.