Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $52.83 Consensus PT from Brokerages

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have received an average rating of “Hold” from the eleven research firms that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $52.64.

A number of analysts have issued reports on the company. Macquarie reaffirmed an “outperform” rating and set a $58.00 price target on shares of Red Rock Resorts in a report on Friday, May 2nd. Morgan Stanley reduced their target price on shares of Red Rock Resorts from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Susquehanna cut their price objective on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating for the company in a research report on Wednesday, April 16th. Barclays reduced their target price on Red Rock Resorts from $58.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Finally, Mizuho lowered their price target on Red Rock Resorts from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd.

Hedge Funds Weigh In On Red Rock Resorts

A number of large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC increased its position in Red Rock Resorts by 654.7% during the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock worth $41,000 after purchasing an additional 766 shares in the last quarter. Pandora Wealth Inc. acquired a new stake in shares of Red Rock Resorts during the first quarter valued at about $43,000. US Bancorp DE lifted its stake in shares of Red Rock Resorts by 1,664.4% in the first quarter. US Bancorp DE now owns 1,041 shares of the company’s stock worth $45,000 after acquiring an additional 982 shares in the last quarter. KBC Group NV boosted its stake in shares of Red Rock Resorts by 37.1% during the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock valued at $92,000 after buying an additional 540 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Red Rock Resorts in the 1st quarter valued at about $89,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Up 5.7%

Shares of RRR opened at $46.92 on Friday. Red Rock Resorts has a 1 year low of $35.09 and a 1 year high of $61.73. The company’s 50-day simple moving average is $42.77 and its 200-day simple moving average is $46.94. The stock has a market capitalization of $4.98 billion, a PE ratio of 18.69, a P/E/G ratio of 4.32 and a beta of 1.64. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.47 by $0.33. The business had revenue of $497.86 million during the quarter, compared to the consensus estimate of $499.12 million. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Analysts forecast that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently announced an annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Wednesday, May 14th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, May 14th. This represents a yield of 2.29%. Red Rock Resorts’s dividend payout ratio (DPR) is currently 38.76%.

Red Rock Resorts Company Profile

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.