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

Red Rock Resorts, Inc. (NASDAQ:RRR) has been given an average recommendation of “Hold” by the twelve ratings firms that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $57.25.

RRR has been the topic of a number of recent analyst reports. Barclays cut their price objective on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Macquarie decreased their price objective on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Truist Financial dropped their target price on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group reiterated a “hold” rating and set a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Finally, Mizuho lowered Red Rock Resorts from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $57.00 to $44.00 in a report on Monday, November 25th.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR opened at $48.82 on Thursday. 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 1-year low of $42.46 and a 1-year high of $63.28. The business’s fifty day moving average price is $47.34 and its two-hundred day moving average price is $51.62. The firm has a market capitalization of $5.16 billion, a PE ratio of 18.08, a P/E/G ratio of 5.30 and a beta of 2.02.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.11. Red Rock Resorts had a return on equity of 73.20% and a net margin of 8.59%. The business had revenue of $468.02 million during the quarter, compared to analyst estimates of $460.73 million. During the same period in the prior year, the company posted $0.60 EPS. On average, research analysts expect that Red Rock Resorts will post 1.44 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Bamco Inc. NY lifted its stake in shares of Red Rock Resorts by 1.0% in the 3rd quarter. Bamco Inc. NY now owns 10,623,284 shares of the company’s stock valued at $578,332,000 after purchasing an additional 106,509 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Red Rock Resorts by 20.6% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock worth $62,149,000 after acquiring an additional 229,843 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Red Rock Resorts by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after acquiring an additional 14,029 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Red Rock Resorts by 3.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock valued at $61,763,000 after acquiring an additional 38,443 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Red Rock Resorts by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 577,108 shares of the company’s stock worth $31,418,000 after purchasing an additional 4,810 shares during the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

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.