Red Rock Resorts, Inc. (NASDAQ:RRR) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eleven brokerages that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $52.00.

Several brokerages have recently weighed in on RRR. Truist Financial decreased their target price on shares of Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Susquehanna reduced their price target on shares of Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating on the stock in a research report on Wednesday, April 16th. Stifel Nicolaus reduced their price target on shares of Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating on the stock in a research report on Friday, May 2nd. JMP Securities reduced their price target on shares of Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating on the stock in a research report on Thursday, April 17th. Finally, Barclays reduced their price target on shares of Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd.

Red Rock Resorts Price Performance

Shares of Red Rock Resorts stock opened at $51.85 on Friday. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.87 and a current ratio of 0.92. The firm's 50-day simple moving average is $47.07 and its 200-day simple moving average is $46.42. Red Rock Resorts has a twelve month low of $35.09 and a twelve month high of $61.73. The firm has a market cap of $5.50 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 5.44 and a beta of 1.61.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.33. Red Rock Resorts had a net margin of 8.01% and a return on equity of 56.45%. The business had revenue of $497.86 million for the quarter, compared to analyst estimates of $499.12 million. During the same period in the previous year, the business earned $0.68 EPS. The firm's revenue was up 1.8% on a year-over-year basis. As a group, research analysts expect that Red Rock Resorts will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently announced an annual dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $1.00 per share. The ex-dividend date is Monday, June 16th. This represents a dividend yield of 2.29%. Red Rock Resorts's payout ratio is 38.76%.

Hedge Funds Weigh In On Red Rock Resorts

Large investors have recently modified their holdings of the stock. Sterling Capital Management LLC lifted its position in shares of Red Rock Resorts by 654.7% during the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock worth $41,000 after purchasing an additional 766 shares in the last quarter. Pandora Wealth Inc. acquired a new position in shares of Red Rock Resorts during the first quarter worth approximately $43,000. US Bancorp DE lifted its position in shares of Red Rock Resorts by 1,664.4% during the first quarter. US Bancorp DE now owns 1,041 shares of the company's stock worth $45,000 after purchasing an additional 982 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Red Rock Resorts during the first quarter worth approximately $89,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Red Rock Resorts by 47.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock worth $95,000 after purchasing an additional 664 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

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.

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