Weekly Research Analysts’ Ratings Updates for Red Rock Resorts (RRR)

Several brokerages have updated their recommendations and price targets on shares of Red Rock Resorts (NASDAQ: RRR) in the last few weeks:

• 7/24/2024 – Red Rock Resorts had its price target raised by analysts at Susquehanna from $63.00 to $70.00. They now have a “positive” rating on the stock.
• 7/24/2024 – Red Rock Resorts had its price target raised by analysts at Barclays PLC from $63.00 to $65.00. They now have an “overweight” rating on the stock.
• 7/24/2024 – Red Rock Resorts had its price target raised by analysts at JPMorgan Chase & Co. from $62.00 to $69.00. They now have an “overweight” rating on the stock.
• 7/24/2024 – Red Rock Resorts had its price target raised by analysts at Macquarie from $62.00 to $65.00. They now have an “outperform” rating on the stock.
• 7/24/2024 – Red Rock Resorts had its price target raised by analysts at Stifel Nicolaus from $59.00 to $62.00. They now have a “hold” rating on the stock.
• 7/24/2024 – Red Rock Resorts had its price target lowered by analysts at Truist Financial Co. from $64.00 to $63.00. They now have a “hold” rating on the stock.
• 7/24/2024 – Red Rock Resorts was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating. They now have a $64.00 price target on the stock, up previously from $63.00.
• 7/18/2024 – Red Rock Resorts had its price target raised by analysts at Truist Financial Co. from $60.00 to $64.00. They now have a “hold” rating on the stock.
• 7/12/2024 – Red Rock Resorts had its price target raised by analysts at Morgan Stanley from $53.00 to $54.00. They now have an “equal weight” rating on the stock.

Red Rock Resorts Stock Down 1.7 %

Red Rock Resorts stock traded down $0.92 during mid-day trading on Monday, hitting $53.99. The company had a trading volume of 211,605 shares, compared to its average volume of 470,102. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 5.21 and a beta of 2.04. Red Rock Resorts, Inc. has a 1 year low of $37.82 and a 1 year high of $63.28. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 18.49. The business has a fifty day moving average of $54.65 and a 200 day moving average of $55.54.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.43 by $0.16. The company 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 87.05%. The firm’s revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 earnings per share. On average, sell-side analysts expect that Red Rock Resorts, Inc. will post 1.66 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.25 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. Red Rock Resorts’s dividend payout ratio (DPR) is 34.72%.

Insider Activity at Red Rock Resorts

In other news, VP Lorenzo J. Fertitta bought 33,000 shares of Red Rock Resorts stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $54.49 per share, for a total transaction of $1,798,170.00. Following the acquisition, the vice president now owns 47,480,301 shares in the company, valued at $2,587,201,601.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Lorenzo J. Fertitta bought 33,000 shares of Red Rock Resorts stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $54.49 per share, for a total transaction of $1,798,170.00. Following the acquisition, the vice president now owns 47,480,301 shares in the company, valued at $2,587,201,601.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Kord Nichols sold 49,464 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $58.00, for a total transaction of $2,868,912.00. Following the completion of the transaction, the chief operating officer now owns 71,946 shares in the company, valued at $4,172,868. The disclosure for this sale can be found here. Insiders have bought a total of 200,000 shares of company stock worth $10,426,000 in the last three months. Insiders own 53.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Covestor Ltd increased its position in Red Rock Resorts by 16,666.7% during the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after purchasing an additional 500 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Red Rock Resorts during the 1st quarter worth approximately $78,000. nVerses Capital LLC acquired a new stake in Red Rock Resorts during the 2nd quarter worth approximately $154,000. Virtu Financial LLC acquired a new stake in Red Rock Resorts during the 4th quarter worth approximately $212,000. Finally, Core Wealth Partners LLC acquired a new stake in Red Rock Resorts during the 4th quarter worth approximately $213,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

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.