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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $63.50.

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company cut shares of Red Rock Resorts from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $63.00 to $64.00 in a research note on Wednesday, July 24th. Stifel Nicolaus upped their price target on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Barclays upped their price target on shares of Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on shares of Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Truist Financial dropped their price target on shares of Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th.

Insider Transactions at Red Rock Resorts

In other Red Rock Resorts news, CEO Frank J. Fertitta III acquired 67,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were purchased at an average price of $54.49 per share, for a total transaction of $3,650,830.00. Following the purchase, the chief executive officer now directly owns 45,914,301 shares of the company’s stock, valued at $2,501,870,261.49. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, VP Lorenzo J. Fertitta bought 33,000 shares of Red Rock Resorts stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average cost of $54.49 per share, with a total value of $1,798,170.00. Following the acquisition, the vice president now owns 47,480,301 shares of the company’s stock, valued at approximately $2,587,201,601.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank J. Fertitta III bought 67,000 shares of Red Rock Resorts stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $54.49 per share, with a total value of $3,650,830.00. Following the completion of the acquisition, the chief executive officer now directly owns 45,914,301 shares in the company, valued at approximately $2,501,870,261.49. The disclosure for this purchase can be found here. Insiders have acquired 200,000 shares of company stock worth $10,426,000 in the last quarter. Company insiders own 53.28% of the company’s stock.

Institutional Investors Weigh In On Red Rock Resorts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bamco Inc. NY increased its holdings in Red Rock Resorts by 0.5% in the 1st quarter. Bamco Inc. NY now owns 10,409,100 shares of the company’s stock worth $622,672,000 after acquiring an additional 50,246 shares in the last quarter. Vanguard Group Inc. grew its holdings in Red Rock Resorts by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock valued at $307,292,000 after buying an additional 209,593 shares in the last quarter. Eminence Capital LP grew its holdings in Red Rock Resorts by 21.1% during the 4th quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock valued at $126,582,000 after buying an additional 413,871 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Red Rock Resorts by 26.7% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock valued at $65,706,000 after buying an additional 251,855 shares in the last quarter. Finally, Capital World Investors purchased a new stake in Red Rock Resorts during the 4th quarter valued at approximately $24,897,000. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Down 1.5 %

NASDAQ:RRR opened at $54.17 on Friday. The firm’s 50-day moving average price is $55.06 and its 200-day moving average price is $55.12. The company has a market capitalization of $5.72 billion, a PE ratio of 18.81, a P/E/G ratio of 5.47 and a beta of 2.04. The company has a debt-to-equity ratio of 15.15, a current ratio of 0.94 and a quick ratio of 0.89. Red Rock Resorts has a 1-year low of $37.82 and a 1-year high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results 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 the consensus estimate of $475.80 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 83.84%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. On average, equities analysts predict that Red Rock Resorts will post 1.66 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Monday, September 16th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 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.