Red Rock Resorts (RRR) Lifted to Outperform at Macquarie

Macquarie upgraded shares of Red Rock Resorts (NASDAQ:RRR) from a neutral rating to an outperform rating in a report issued on Tuesday, Briefing.com Automated Import reports. The brokerage currently has $29.00 price objective on the stock.

Other equities analysts have also issued research reports about the company. BidaskClub lowered Red Rock Resorts from a sell rating to a strong sell rating in a research note on Friday, May 17th. Telsey Advisory Group reaffirmed a market perform rating and set a $26.00 price target (down previously from $28.00) on shares of Red Rock Resorts in a research note on Wednesday, May 1st. Deutsche Bank reaffirmed a buy rating and set a $31.00 price target on shares of Red Rock Resorts in a research note on Wednesday, May 1st. TheStreet raised Red Rock Resorts from a c+ rating to a b- rating in a research note on Friday, April 26th. Finally, Nomura upped their price target on Red Rock Resorts to $32.00 and gave the company a buy rating in a research note on Wednesday, February 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $30.50.

Shares of RRR opened at $23.03 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 3.52. Red Rock Resorts has a 12-month low of $18.78 and a 12-month high of $36.99. The firm has a market cap of $2.69 billion, a PE ratio of 17.58 and a beta of 2.11.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.16). Red Rock Resorts had a net margin of 6.89% and a return on equity of 10.08%. The firm had revenue of $447.00 million for the quarter, compared to analyst estimates of $445.50 million. During the same period last year, the company earned $0.65 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. Research analysts anticipate that Red Rock Resorts will post 1.02 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, June 13th. Red Rock Resorts’s payout ratio is 30.53%.

In other Red Rock Resorts news, insider Joseph J. Hasson sold 31,628 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $26.42, for a total value of $835,611.76. Following the transaction, the insider now owns 13,921 shares of the company’s stock, valued at $367,792.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph J. Hasson sold 1,500 shares of the stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $28.83, for a total value of $43,245.00. Following the completion of the transaction, the insider now directly owns 17,260 shares in the company, valued at approximately $497,605.80. The disclosure for this sale can be found here. Insiders sold 144,612 shares of company stock worth $3,787,280 in the last three months. Insiders own 0.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Shellback Capital LP acquired a new position in Red Rock Resorts in the fourth quarter valued at about $1,715,000. Massmutual Trust Co. FSB ADV lifted its stake in Red Rock Resorts by 39.2% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 18,626 shares of the company’s stock valued at $378,000 after buying an additional 5,244 shares during the period. Thrivent Financial for Lutherans acquired a new position in Red Rock Resorts in the fourth quarter valued at about $27,092,000. Cohen & Steers Inc. lifted its stake in Red Rock Resorts by 2.9% in the fourth quarter. Cohen & Steers Inc. now owns 5,919,209 shares of the company’s stock valued at $120,219,000 after buying an additional 165,784 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in Red Rock Resorts in the fourth quarter valued at about $142,000. 63.91% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 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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