Red Rock Resorts (NASDAQ:RRR) Earns Buy Rating from Analysts at Mizuho

Mizuho assumed coverage on shares of Red Rock Resorts (NASDAQ:RRR) in a report issued on Tuesday, Marketbeat reports. The firm issued a buy rating and a $69.00 price target on the stock.

Other equities analysts have also recently issued research reports about the stock. JMP Securities increased their price target on shares of Red Rock Resorts from $55.00 to $61.00 and gave the stock a market outperform rating in a research report on Thursday, February 8th. Barclays upped their price target on Red Rock Resorts from $60.00 to $62.00 and gave the company an overweight rating in a research report on Thursday, February 8th. Macquarie raised shares of Red Rock Resorts from a neutral rating to an outperform rating and lifted their price objective for the stock from $51.00 to $58.00 in a report on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock a buy rating in a report on Wednesday, January 24th. Finally, Susquehanna boosted their price objective on shares of Red Rock Resorts from $52.00 to $66.00 and gave the company a positive rating in a research report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $60.27.

Red Rock Resorts Stock Performance

Shares of NASDAQ RRR opened at $59.82 on Tuesday. The company has a market cap of $6.29 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 4.08 and a beta of 2.06. The company has a debt-to-equity ratio of 13.54, a current ratio of 0.81 and a quick ratio of 0.76. Red Rock Resorts has a 12 month low of $37.82 and a 12 month high of $60.59. The company has a 50-day simple moving average of $56.71 and a 200-day simple moving average of $49.25.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Wednesday, February 7th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.55. The company had revenue of $462.71 million for the quarter, compared to analyst estimates of $440.75 million. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. Red Rock Resorts’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 EPS. On average, equities analysts anticipate that Red Rock Resorts will post 1.9 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.67%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 33.90%.

Insider Activity at Red Rock Resorts

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of Red Rock Resorts stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $57.74, for a total transaction of $434,204.80. Following the transaction, the chief financial officer now directly owns 243,808 shares of the company’s stock, valued at $14,077,473.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 54.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Red Rock Resorts

Institutional investors and hedge funds have recently modified their holdings of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Red Rock Resorts in the 1st quarter worth approximately $30,000. Lazard Asset Management LLC acquired a new stake in shares of Red Rock Resorts in the fourth quarter valued at about $34,000. KBC Group NV bought a new stake in Red Rock Resorts in the 4th quarter valued at $56,000. Tower Research Capital LLC TRC raised its stake in shares of Red Rock Resorts by 601.1% in the first quarter. Tower Research Capital LLC TRC now owns 1,283 shares of the company’s stock valued at $57,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Red Rock Resorts during the 2nd quarter worth about $92,000. Institutional investors and hedge funds 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.