Red Rock Resorts (NASDAQ:RRR) Earns Outperform Rating from Analysts at JMP Securities

JMP Securities initiated coverage on shares of Red Rock Resorts (NASDAQ:RRRGet Rating) in a research note issued to investors on Thursday morning, The Fly reports. The brokerage issued an outperform rating and a $50.00 target price on the stock.

A number of other analysts have also recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Red Rock Resorts in a research note on Wednesday, September 7th. They set a buy rating and a $50.00 price target for the company. KeyCorp set a $45.00 target price on shares of Red Rock Resorts in a research note on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Red Rock Resorts from $45.00 to $50.00 and gave the stock a buy rating in a research note on Wednesday, August 10th. Loop Capital started coverage on shares of Red Rock Resorts in a research note on Monday, July 11th. They issued a hold rating and a $36.00 target price for the company. Finally, Wells Fargo & Company reduced their target price on shares of Red Rock Resorts from $56.00 to $48.00 and set an overweight rating for the company in a research note on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $47.90.

Red Rock Resorts Trading Down 5.9 %

NASDAQ RRR opened at $35.06 on Thursday. The company has a debt-to-equity ratio of 29.17, a current ratio of 1.63 and a quick ratio of 1.58. The firm’s fifty day moving average price is $39.16 and its 200 day moving average price is $40.04. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 10.75 and a beta of 2.25. Red Rock Resorts has a 12 month low of $30.98 and a 12 month high of $58.74.

Red Rock Resorts (NASDAQ:RRRGet Rating) last posted its earnings results on Tuesday, August 9th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.75. The firm had revenue of $422.20 million for the quarter, compared to the consensus estimate of $404.39 million. Red Rock Resorts had a net margin of 17.10% and a return on equity of 146.71%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $1.12 EPS. On average, sell-side analysts expect that Red Rock Resorts will post 1.73 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Wednesday, September 14th. Red Rock Resorts’s dividend payout ratio (DPR) is 30.67%.

Insider Activity at Red Rock Resorts

In other Red Rock Resorts news, COO Robert A. Finch sold 22,663 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $39.41, for a total transaction of $893,148.83. Following the completion of the transaction, the chief operating officer now directly owns 111,214 shares in the company, valued at approximately $4,382,943.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 50.18% of the company’s stock.

Hedge Funds Weigh In On Red Rock Resorts

Several hedge funds have recently added to or reduced their stakes in RRR. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Red Rock Resorts during the 1st quarter valued at about $30,000. Lindbrook Capital LLC grew its holdings in shares of Red Rock Resorts by 247.1% during the first quarter. Lindbrook Capital LLC now owns 1,024 shares of the company’s stock worth $50,000 after buying an additional 729 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Red Rock Resorts during the first quarter worth about $92,000. Quantbot Technologies LP purchased a new stake in shares of Red Rock Resorts during the second quarter worth about $92,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Red Rock Resorts during the second quarter worth about $100,000. 52.30% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Company Profile

(Get Rating)

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, develops and operates casino and entertainment properties in the United States. It operates through two segments, Las Vegas Operations and Native American Management. The company owns and operates 9 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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