Red Rock Resorts (NASDAQ:RRR) Rating Reiterated by JMP Securities

JMP Securities reiterated their market outperform rating on shares of Red Rock Resorts (NASDAQ:RRR) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $65.00 target price on the stock.

RRR has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their price target on shares of Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Barclays lifted their price target on shares of Red Rock Resorts from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Macquarie lifted their price target on shares of Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Susquehanna lifted their price target on shares of Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. Finally, Stifel Nicolaus lifted their price target on shares of Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Red Rock Resorts has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

Red Rock Resorts Trading Up 0.6 %

Shares of RRR opened at $52.59 on Monday. The firm’s 50-day moving average price is $54.67 and its 200-day moving average price is $54.79. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 5.48 and a beta of 2.04. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 15.15. 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 announced its earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, beating 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 net margin of 9.21% and a return on equity of 83.84%. The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. Sell-side analysts anticipate that Red Rock Resorts will post 1.66 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.00 annualized dividend and a yield of 1.90%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 35.46%.

Insider Transactions at Red Rock Resorts

In related news, CEO Frank J. Fertitta III purchased 67,000 shares of Red Rock Resorts stock in a transaction dated Thursday, August 1st. The stock was purchased at an average cost of $54.49 per share, for a total transaction of $3,650,830.00. Following the completion of 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 trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Red Rock Resorts news, VP Lorenzo J. Fertitta bought 33,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $49.77 per share, for a total transaction of $1,642,410.00. Following the completion of the transaction, the vice president now owns 47,546,301 shares of the company’s stock, valued at $2,366,379,400.77. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank J. Fertitta III bought 67,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $54.49 per share, with a total value of $3,650,830.00. Following the completion of the transaction, the chief executive officer now directly owns 45,914,301 shares of the company’s stock, valued at $2,501,870,261.49. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 200,000 shares of company stock worth $10,426,000 over the last three months. 53.28% of the stock is currently owned by company insiders.

Institutional Trading of Red Rock Resorts

Several large investors have recently added to or reduced their stakes in RRR. nVerses Capital LLC increased its stake in shares of Red Rock Resorts by 28.6% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $196,000 after purchasing an additional 800 shares in the last quarter. Creative Planning boosted its holdings in Red Rock Resorts by 19.7% in the 3rd quarter. Creative Planning now owns 19,029 shares of the company’s stock worth $1,036,000 after buying an additional 3,127 shares during the period. Ritholtz Wealth Management purchased a new stake in Red Rock Resorts in the 3rd quarter worth $215,000. SG Americas Securities LLC raised its holdings in Red Rock Resorts by 390.2% during the third quarter. SG Americas Securities LLC now owns 16,920 shares of the company’s stock valued at $921,000 after acquiring an additional 13,468 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in shares of Red Rock Resorts in the second quarter valued at about $98,000. 47.84% of the stock is currently owned by institutional investors.

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.