Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $61.67 Average PT from Brokerages

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have received a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $61.67.

A number of analysts have weighed in on RRR shares. Bank of America raised their price target on Red Rock Resorts from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Mizuho assumed coverage on Red Rock Resorts in a research report on Tuesday, March 26th. They set a “buy” rating and a $69.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on Red Rock Resorts from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. lifted their target price on Red Rock Resorts from $63.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, Morgan Stanley lifted their target price on Red Rock Resorts from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th.

Insiders Place Their Bets

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total transaction of $434,204.80. Following the transaction, the chief financial officer now owns 243,808 shares in the company, valued at approximately $14,077,473.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 53.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Red Rock Resorts

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of Red Rock Resorts in the 4th quarter worth approximately $212,000. Core Wealth Partners LLC acquired a new stake in shares of Red Rock Resorts in the 4th quarter worth approximately $213,000. Malaga Cove Capital LLC acquired a new stake in shares of Red Rock Resorts in the 3rd quarter worth approximately $242,000. Valeo Financial Advisors LLC purchased a new stake in Red Rock Resorts in the 4th quarter valued at approximately $255,000. Finally, VELA Investment Management LLC purchased a new stake in Red Rock Resorts in the 4th quarter valued at approximately $256,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Stock Up 1.6 %

Shares of NASDAQ RRR opened at $54.37 on Tuesday. Red Rock Resorts has a 12-month low of $37.82 and a 12-month high of $63.28. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 13.54. The stock has a market cap of $5.72 billion, a P/E ratio of 18.43, a PEG ratio of 2.77 and a beta of 2.08. The business’s fifty day simple moving average is $57.88 and its 200-day simple moving average is $52.19.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.55. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The company had revenue of $462.71 million for the quarter, compared to analysts’ expectations of $440.75 million. During the same period last year, the firm earned $1.00 earnings per share. Red Rock Resorts’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities analysts predict that Red Rock Resorts will post 1.92 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.84%. The ex-dividend date was Thursday, March 14th. Red Rock Resorts’s payout ratio is 33.90%.

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.