Red Rock Resorts, Inc. (NASDAQ:RRR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Red Rock Resorts, Inc. (NASDAQ:RRR) has received an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $63.50.

RRR has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday. Susquehanna raised their target price on Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Barclays raised their target price on Red Rock Resorts from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Wells Fargo & Company cut Red Rock Resorts from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $63.00 to $64.00 in a research note on Wednesday, July 24th. Finally, Macquarie raised their target price on Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th.

Insiders Place Their Bets

In other Red Rock Resorts news, CEO Frank J. Fertitta III bought 67,000 shares of Red Rock Resorts stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $49.77 per share, with a total value of $3,334,590.00. Following the acquisition, the chief executive officer now owns 46,048,301 shares in the company, valued at $2,291,823,940.77. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Lorenzo J. Fertitta acquired 33,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $49.77 per share, with a total value of $1,642,410.00. Following the completion of the acquisition, the vice president now directly owns 47,546,301 shares of the company’s stock, valued at approximately $2,366,379,400.77. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank J. Fertitta III acquired 67,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $49.77 per share, with a total value of $3,334,590.00. Following the acquisition, the chief executive officer now directly owns 46,048,301 shares of the company’s stock, valued at $2,291,823,940.77. 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. Corporate insiders own 53.28% of the company’s stock.

Institutional Trading of Red Rock Resorts

Several large investors have recently modified their holdings of the company. Truist Financial Corp grew its holdings in shares of Red Rock Resorts by 0.9% in the second quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock worth $1,513,000 after acquiring an additional 241 shares during the period. Point72 Asset Management L.P. bought a new stake in Red Rock Resorts during the second quarter valued at about $4,907,000. Creative Planning grew its holdings in Red Rock Resorts by 5.9% during the second quarter. Creative Planning now owns 15,902 shares of the company’s stock valued at $873,000 after purchasing an additional 886 shares during the period. Algert Global LLC bought a new stake in Red Rock Resorts during the second quarter valued at about $279,000. Finally, Shellback Capital LP grew its holdings in Red Rock Resorts by 327.6% during the second quarter. Shellback Capital LP now owns 103,200 shares of the company’s stock valued at $5,669,000 after purchasing an additional 79,067 shares during the period. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Shares of RRR stock opened at $55.04 on Monday. The firm has a market cap of $5.81 billion, a P/E ratio of 19.11, a P/E/G ratio of 5.70 and a beta of 2.04. Red Rock Resorts has a fifty-two week low of $37.82 and a fifty-two week high of $63.28. The business’s 50 day moving average price is $56.27 and its 200-day moving average price is $55.51. The company has a debt-to-equity ratio of 15.15, a quick ratio of 0.89 and a current ratio of 0.94.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. The firm had revenue of $486.40 million for the quarter, compared to analyst estimates of $475.80 million. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. On average, equities research analysts anticipate that Red Rock Resorts will post 1.66 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Monday, September 16th. Red Rock Resorts’s payout ratio is 34.72%.

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.