Shares of Red Rock Resorts Inc (NASDAQ:RRR) have earned a consensus rating of “Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $25.57.
A number of research analysts have recently commented on RRR shares. BidaskClub raised Red Rock Resorts from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th. Deutsche Bank reaffirmed a “buy” rating and set a $25.00 price target on shares of Red Rock Resorts in a research report on Thursday, November 21st. ValuEngine raised Red Rock Resorts from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Bank of America cut Red Rock Resorts from a “buy” rating to a “neutral” rating in a research report on Monday, January 6th. Finally, Union Gaming Research lowered Red Rock Resorts from a “buy” rating to a “hold” rating and decreased their price objective for the company from $25.00 to $22.00 in a research note on Wednesday, November 6th.
RRR stock traded down $0.07 during midday trading on Tuesday, hitting $23.09. The company’s stock had a trading volume of 775,036 shares, compared to its average volume of 462,480. The stock’s 50-day moving average price is $23.59 and its 200 day moving average price is $21.70. The company has a quick ratio of 0.90, a current ratio of 0.96 and a debt-to-equity ratio of 3.85. Red Rock Resorts has a 1 year low of $16.76 and a 1 year high of $29.80. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 17.63 and a beta of 2.08.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.73%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 30.53%.
Several institutional investors have recently made changes to their positions in RRR. Cohen & Steers Inc. boosted its holdings in Red Rock Resorts by 16.6% during the 2nd quarter. Cohen & Steers Inc. now owns 4,267,738 shares of the company’s stock valued at $91,671,000 after acquiring an additional 607,780 shares during the period. California State Teachers Retirement System boosted its holdings in Red Rock Resorts by 1.6% during the 3rd quarter. California State Teachers Retirement System now owns 109,243 shares of the company’s stock valued at $2,218,000 after acquiring an additional 1,739 shares during the period. Verition Fund Management LLC boosted its holdings in Red Rock Resorts by 24.7% during the 2nd quarter. Verition Fund Management LLC now owns 18,700 shares of the company’s stock valued at $402,000 after acquiring an additional 3,700 shares during the period. Zimmer Partners LP purchased a new stake in Red Rock Resorts during the 3rd quarter valued at about $16,716,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in Red Rock Resorts during the 3rd quarter valued at about $2,089,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.
About Red Rock Resorts
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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