Red Rock Resorts Inc (NASDAQ:RRR) Receives Consensus Recommendation of “Hold” from Brokerages

Red Rock Resorts Inc (NASDAQ:RRR) has earned a consensus rating of “Hold” from the eleven research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $28.67.

Several research firms have recently commented on RRR. BidaskClub upgraded shares of Red Rock Resorts from a “strong sell” rating to a “sell” rating in a report on Friday, June 14th. Wolfe Research began coverage on shares of Red Rock Resorts in a research note on Friday, June 14th. They set a “peer perform” rating for the company. Macquarie upgraded shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and set a $29.00 price objective for the company in a research note on Tuesday, May 21st. Telsey Advisory Group reiterated a “market perform” rating and set a $26.00 price objective (down previously from $28.00) on shares of Red Rock Resorts in a research note on Wednesday, May 1st. Finally, Deutsche Bank reiterated a “buy” rating and set a $31.00 price objective on shares of Red Rock Resorts in a research note on Wednesday, May 1st.

In other news, insider Joseph J. Hasson sold 12,891 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $23.24, for a total value of $299,586.84. Following the sale, the insider now directly owns 12,891 shares of the company’s stock, valued at approximately $299,586.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can raised its holdings in Red Rock Resorts by 47.5% during the 4th quarter. Bank of Montreal Can now owns 1,437 shares of the company’s stock valued at $29,000 after acquiring an additional 463 shares during the period. Rhumbline Advisers raised its holdings in Red Rock Resorts by 46.9% during the 4th quarter. Rhumbline Advisers now owns 92,466 shares of the company’s stock valued at $1,878,000 after acquiring an additional 29,522 shares during the period. Bank of New York Mellon Corp raised its holdings in Red Rock Resorts by 17.4% during the 4th quarter. Bank of New York Mellon Corp now owns 533,719 shares of the company’s stock valued at $10,839,000 after acquiring an additional 79,099 shares during the period. Eagle Asset Management Inc. raised its holdings in Red Rock Resorts by 20.2% during the 4th quarter. Eagle Asset Management Inc. now owns 440,700 shares of the company’s stock valued at $8,950,000 after acquiring an additional 74,166 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its holdings in Red Rock Resorts by 10.6% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 6,572,518 shares of the company’s stock valued at $133,488,000 after acquiring an additional 629,672 shares during the period. 61.82% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts stock traded up $0.36 during trading hours on Friday, hitting $20.76. The company had a trading volume of 12,760 shares, compared to its average volume of 566,511. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 15.79 and a beta of 2.27. The company has a debt-to-equity ratio of 3.52, a quick ratio of 0.82 and a current ratio of 0.86. Red Rock Resorts has a 1 year low of $18.78 and a 1 year high of $36.99. The business’s 50-day simple moving average is $22.54.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.16). Red Rock Resorts had a net margin of 6.89% and a return on equity of 10.08%. The business had revenue of $447.00 million during the quarter, compared to the consensus estimate of $445.50 million. During the same quarter in the prior year, the firm posted $0.65 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts forecast that Red Rock Resorts will post 1 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, June 13th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 30.53%.

About Red Rock Resorts

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

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Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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