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

JMP Securities restated their market outperform rating on shares of Red Rock Resorts (NASDAQ:RRR - Free Report) in a research report report published on Monday, Benzinga reports. The firm currently has a $65.00 price target on the stock.

Other equities analysts have also issued research reports about the company. Susquehanna increased their target price on Red Rock Resorts from $63.00 to $70.00 and gave the company a positive rating in a research note on Wednesday, July 24th. Truist Financial reduced their price objective on shares of Red Rock Resorts from $64.00 to $63.00 and set a hold rating on the stock in a research note on Wednesday, July 24th. Barclays upped their target price on shares of Red Rock Resorts from $63.00 to $65.00 and gave the company an overweight rating in a research note on Wednesday, July 24th. Morgan Stanley lifted their price target on shares of Red Rock Resorts from $54.00 to $56.00 and gave the stock an equal weight rating in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company cut shares of Red Rock Resorts from an overweight rating to an equal weight rating and upped their price objective for the company from $63.00 to $64.00 in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $63.50.

Red Rock Resorts Trading Up 0.4 %

RRR traded up $0.21 during mid-day trading on Monday, reaching $52.75. The stock had a trading volume of 522,786 shares, compared to its average volume of 463,252. The stock has a market capitalization of $5.57 billion, a P/E ratio of 18.69, a P/E/G ratio of 5.39 and a beta of 2.04. Red Rock Resorts has a 52 week low of $37.82 and a 52 week high of $63.28. The company has a debt-to-equity ratio of 15.15, a quick ratio of 0.89 and a current ratio of 0.94. The firm's fifty day simple moving average is $54.69 and its two-hundred day simple moving average is $54.93.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.16. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. The firm had revenue of $486.40 million during the quarter, compared to analyst estimates of $475.80 million. During the same period last year, the company earned $0.65 earnings per share. The company's revenue was up 16.9% on a year-over-year basis. On average, equities analysts predict that Red Rock Resorts will post 1.66 EPS for the current year.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. Red Rock Resorts's payout ratio is presently 35.46%.

Insider Buying and Selling at Red Rock Resorts

In other Red Rock Resorts news, CEO Frank J. Fertitta III purchased 67,000 shares of the firm's stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $49.77 per share, with a total value of $3,334,590.00. Following the purchase, the chief executive officer now directly owns 46,048,301 shares of the company's stock, valued at $2,291,823,940.77. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Lorenzo J. Fertitta bought 33,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $49.77 per share, with a total value of $1,642,410.00. Following the completion of the transaction, the vice president now owns 47,546,301 shares in the company, valued at $2,366,379,400.77. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Frank J. Fertitta III purchased 67,000 shares of Red Rock Resorts stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $49.77 per share, with a total value of $3,334,590.00. Following the completion of the transaction, the chief executive officer now directly owns 46,048,301 shares of the company's stock, valued at approximately $2,291,823,940.77. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 200,000 shares of company stock worth $10,426,000. Corporate insiders own 53.28% of the company's stock.

Hedge Funds Weigh In On Red Rock Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in RRR. Creative Planning increased its stake in shares of Red Rock Resorts by 19.7% during the 3rd quarter. Creative Planning now owns 19,029 shares of the company's stock worth $1,036,000 after purchasing an additional 3,127 shares during the last quarter. Ritholtz Wealth Management bought a new position in Red Rock Resorts during the third quarter worth about $215,000. SG Americas Securities LLC increased its position 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 worth $921,000 after buying an additional 13,468 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Red Rock Resorts during the second quarter worth approximately $98,000. Finally, Truist Financial Corp raised its stake in Red Rock Resorts by 0.9% in the second quarter. Truist Financial Corp now owns 27,545 shares of the company's stock valued at $1,513,000 after buying an additional 241 shares during the period. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Company Profile

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.