Red Rock Resorts, Inc. (NASDAQ:RRR) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts rate RRR a "Moderate Buy" — 15 firms cover the stock (11 buy, 4 hold) with an average 1‑year price target of $70.64.
• Red Rock beat Q4 estimates with $0.75 EPS versus $0.41 expected and $511.8M in revenue (up 3.2% YoY), showing solid profitability (net margin 9.35% and high ROE).
• The shares trade around $54.08 with a market cap of $5.68B and a P/E of ~17.3; the company pays a $0.26 quarterly dividend (1.9% yield, ~33% payout ratio) and has a 1‑year range of $41.56–$68.99.

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) have received a consensus rating of "Moderate Buy" from the fifteen research firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $70.6429.

Several research firms have weighed in on RRR. Susquehanna boosted their target price on shares of Red Rock Resorts from $69.00 to $77.00 and gave the company a "positive" rating in a report on Wednesday, February 11th. Jefferies Financial Group reduced their price target on shares of Red Rock Resorts from $79.00 to $74.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Wells Fargo & Company boosted their price target on shares of Red Rock Resorts from $58.00 to $59.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 11th. JPMorgan Chase & Co. reduced their price target on shares of Red Rock Resorts from $76.00 to $73.00 and set an "overweight" rating on the stock in a research note on Thursday, April 16th. Finally, Truist Financial reduced their price target on shares of Red Rock Resorts from $80.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday.

Red Rock Resorts Stock Performance

NASDAQ:RRR opened at $54.08 on Friday. The company has a debt-to-equity ratio of 10.26, a current ratio of 0.79 and a quick ratio of 0.74. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 2.47 and a beta of 1.48. The company's 50-day moving average is $58.15 and its two-hundred day moving average is $59.28. Red Rock Resorts has a 1-year low of $41.56 and a 1-year high of $68.99.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.34. The company had revenue of $511.78 million for the quarter, compared to analyst estimates of $500.90 million. Red Rock Resorts had a net margin of 9.35% and a return on equity of 58.13%. Red Rock Resorts's revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 EPS. Analysts forecast that Red Rock Resorts will post 2.12 EPS for the current year.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, March 16th. Red Rock Resorts's payout ratio is 33.23%.

Institutional Investors Weigh In On Red Rock Resorts

Institutional investors and hedge funds have recently made changes to their positions in the stock. Salomon & Ludwin LLC purchased a new stake in shares of Red Rock Resorts in the 4th quarter valued at approximately $25,000. Kestra Advisory Services LLC purchased a new stake in shares of Red Rock Resorts in the 4th quarter valued at approximately $27,000. Rockefeller Capital Management L.P. raised its stake in shares of Red Rock Resorts by 1,924.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company's stock valued at $31,000 after acquiring an additional 481 shares during the period. Strs Ohio purchased a new stake in shares of Red Rock Resorts in the 3rd quarter valued at approximately $37,000. Finally, GAMMA Investing LLC raised its stake in shares of Red Rock Resorts by 53.8% in the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company's stock valued at $47,000 after acquiring an additional 263 shares during the period. 47.84% of the stock is owned by hedge funds and other institutional investors.

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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