Red Rock Resorts (NASDAQ:RRR) Reaches New 52-Week High at $59.77

Red Rock Resorts, Inc. (NASDAQ:RRR)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $59.77 and last traded at $59.76, with a volume of 67306 shares trading hands. The stock had previously closed at $57.23.

Analyst Upgrades and Downgrades

RRR has been the subject of a number of recent research reports. Susquehanna boosted their price objective on Red Rock Resorts from $52.00 to $66.00 and gave the company a “positive” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. boosted their price objective on Red Rock Resorts from $53.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Barclays boosted their price objective on Red Rock Resorts from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Stifel Nicolaus boosted their price objective on Red Rock Resorts from $47.00 to $54.00 and gave the company a “hold” rating in a research note on Thursday, December 21st. Finally, Morgan Stanley boosted their price target on Red Rock Resorts from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.27.

Red Rock Resorts Stock Up 0.1 %

The firm has a market capitalization of $6.29 billion, a PE ratio of 20.42, a PEG ratio of 4.07 and a beta of 2.06. The company has a fifty day moving average price of $56.44 and a 200-day moving average price of $49.07. The company has a debt-to-equity ratio of 13.54, a quick ratio of 0.76 and a current ratio of 0.81.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.55. The business had revenue of $462.71 million for the quarter, compared to analysts’ expectations of $440.75 million. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 EPS. As a group, analysts expect that Red Rock Resorts, Inc. will post 1.9 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.67%. Red Rock Resorts’s payout ratio is presently 33.90%.

Insider Activity at Red Rock Resorts

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total transaction of $434,204.80. Following the sale, the chief financial officer now owns 243,808 shares in the company, valued at approximately $14,077,473.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 54.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Red Rock Resorts

Hedge funds have recently bought and sold shares of the business. Eminence Capital LP grew its position in Red Rock Resorts by 6.0% in the 3rd quarter. Eminence Capital LP now owns 1,959,685 shares of the company’s stock valued at $80,347,000 after acquiring an additional 111,651 shares during the last quarter. Comerica Bank bought a new position in shares of Red Rock Resorts during the 2nd quarter worth $27,069,000. Swiss National Bank grew its position in shares of Red Rock Resorts by 1.0% during the 3rd quarter. Swiss National Bank now owns 108,700 shares of the company’s stock worth $4,457,000 after buying an additional 1,100 shares in the last quarter. Bamco Inc. NY grew its position in shares of Red Rock Resorts by 10.8% during the 3rd quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock worth $404,135,000 after buying an additional 962,841 shares in the last quarter. Finally, EJF Capital LLC grew its position in shares of Red Rock Resorts by 33.0% during the 3rd quarter. EJF Capital LLC now owns 18,953 shares of the company’s stock worth $777,000 after buying an additional 4,698 shares in the last quarter. Institutional investors 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.