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

Key Points

• Broker sentiment remains positive: Red Rock Resorts has a consensus rating of “Moderate Buy” from 17 analysts, with 12 buy ratings and one strong buy. The average 12-month price target is about $67.94.
• Recent analyst targets were trimmed: Several firms recently lowered their price objectives, including Truist Financial, Susquehanna, and Citizens JMP, though they maintained bullish or positive ratings. UBS later set one of the higher targets at $75.
• Shares fell after mixed fundamentals: The stock was down 4.3% and recently traded at $63.32, while the company’s latest earnings missed EPS estimates even as revenue slightly beat expectations. Red Rock also paid a quarterly dividend of $0.26 per share, yielding about 1.6%.

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the seventeen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $67.9375.

A number of analysts recently commented on the company. Truist Financial lowered their price objective on Red Rock Resorts from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. Susquehanna cut their target price on shares of Red Rock Resorts from $77.00 to $70.00 and set a "positive" rating on the stock in a research report on Thursday, April 30th. Citizens Jmp reduced their target price on shares of Red Rock Resorts from $71.00 to $67.00 and set a "market outperform" rating on the stock in a research note on Thursday, April 30th. Stifel Nicolaus set a $70.00 price target on shares of Red Rock Resorts in a research report on Friday, May 29th. Finally, UBS Group set a $75.00 price target on shares of Red Rock Resorts in a research report on Thursday, July 2nd.

Institutional Trading of Red Rock Resorts

Institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership lifted its stake in shares of Red Rock Resorts by 2,248.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company's stock valued at $82,715,000 after purchasing an additional 1,296,956 shares during the period. Invesco Ltd. grew its stake in shares of Red Rock Resorts by 345.6% during the fourth quarter. Invesco Ltd. now owns 1,054,086 shares of the company's stock worth $65,301,000 after purchasing an additional 817,524 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Red Rock Resorts during the fourth quarter worth $45,724,000. State Street Corp grew its stake in shares of Red Rock Resorts by 62.1% during the fourth quarter. State Street Corp now owns 1,814,812 shares of the company's stock worth $112,428,000 after purchasing an additional 695,575 shares during the period. Finally, Millennium Management LLC increased its holdings in Red Rock Resorts by 656.8% in the fourth quarter. Millennium Management LLC now owns 373,038 shares of the company's stock valued at $23,110,000 after purchasing an additional 323,749 shares during the last quarter. Institutional investors and hedge funds own 47.84% of the company's stock.

Red Rock Resorts Stock Down 4.3%

Shares of RRR opened at $63.32 on Thursday. The business's fifty day moving average price is $58.45 and its two-hundred day moving average price is $59.54. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 5.01 and a beta of 1.35. Red Rock Resorts has a 52 week low of $50.52 and a 52 week high of $68.99. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.17). Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The firm had revenue of $507.32 million for the quarter, compared to the consensus estimate of $505.63 million. During the same quarter in the previous year, the firm earned $0.75 EPS. The company's revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that Red Rock Resorts will post 1.53 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.04 dividend on an annualized basis and a yield of 1.6%. Red Rock Resorts's dividend payout ratio (DPR) is presently 33.44%.

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.

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