Red Rock Resorts, Inc. (NASDAQ:RRR) Given Average Recommendation of “Hold” by Brokerages

Red Rock Resorts, Inc. (NASDAQ:RRR) has been given an average rating of “Hold” by the twelve brokerages that are currently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $55.33.

Several equities analysts have recently commented on the company. Stifel Nicolaus upped their target price on Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. JMP Securities dropped their target price on Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating on the stock in a research report on Thursday. Susquehanna reduced their price target on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating for the company in a report on Wednesday. Jefferies Financial Group reaffirmed a “hold” rating and issued a $51.00 price objective (down previously from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Finally, Truist Financial decreased their target price on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th.

Red Rock Resorts Stock Performance

Shares of RRR opened at $40.70 on Tuesday. The stock has a market capitalization of $4.32 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 4.32 and a beta of 1.69. The business’s fifty day moving average price is $45.29 and its 200 day moving average price is $48.04. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. Red Rock Resorts has a 12-month low of $35.09 and a 12-month high of $61.73.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. Equities research analysts forecast that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.46%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 39.84%.

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC raised its holdings in Red Rock Resorts by 654.7% during the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock worth $41,000 after buying an additional 766 shares during the period. KBC Group NV lifted its position in shares of Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock valued at $92,000 after acquiring an additional 540 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Red Rock Resorts by 47.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock worth $95,000 after purchasing an additional 664 shares during the period. Mayfair Advisory Group LLC grew its position in Red Rock Resorts by 15.1% during the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after purchasing an additional 591 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new stake in Red Rock Resorts during the 4th quarter valued at $213,000. 47.84% of the stock is owned by institutional investors and hedge funds.

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.