Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $52.64 Average Target Price from Brokerages

Red Rock Resorts, Inc. (NASDAQ:RRR) has earned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $52.64.

A number of equities analysts recently issued reports on RRR shares. Susquehanna dropped their target price on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a research report on Wednesday, April 16th. Barclays dropped their target price on shares of Red Rock Resorts from $58.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley dropped their target price on shares of Red Rock Resorts from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Macquarie reaffirmed an “outperform” rating and set a $58.00 target price on shares of Red Rock Resorts in a research report on Friday, May 2nd. Finally, JMP Securities dropped their target price on shares of Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 17th.

Institutional Investors Weigh In On Red Rock Resorts

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC increased its holdings in Red Rock Resorts by 227.9% in the 3rd quarter. Barclays PLC now owns 78,932 shares of the company’s stock valued at $4,297,000 after buying an additional 54,863 shares during the period. OFI Invest Asset Management bought a new stake in shares of Red Rock Resorts in the 4th quarter worth about $2,054,000. Ring Mountain Capital LLC bought a new stake in shares of Red Rock Resorts in the 4th quarter worth about $487,000. Bank of New York Mellon Corp grew its holdings in shares of Red Rock Resorts by 8.7% in the 4th quarter. Bank of New York Mellon Corp now owns 397,771 shares of the company’s stock worth $18,393,000 after purchasing an additional 31,858 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of Red Rock Resorts in the 4th quarter worth about $366,000. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Trading Up 1.3%

NASDAQ:RRR opened at $50.04 on Wednesday. Red Rock Resorts has a 12 month low of $35.09 and a 12 month high of $61.73. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 4.32 and a beta of 1.64. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The company’s 50 day moving average is $44.08 and its 200-day moving average is $46.43.

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

Red Rock Resorts Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $1.00 dividend. This represents a yield of 2.29%. The ex-dividend date is Monday, June 16th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 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.