Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $57.33 Consensus Target Price from Analysts

Red Rock Resorts, Inc. (NASDAQ:RRR) has been given an average recommendation of “Hold” by the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $55.33.

Several brokerages recently issued reports on RRR. Jefferies Financial Group restated a “hold” rating and set a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Susquehanna reduced their target price on Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating for the company in a research report on Wednesday. Truist Financial decreased their price target on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Stifel Nicolaus raised their price objective on shares of Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Finally, Mizuho upped their target price on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th.

Hedge Funds Weigh In On Red Rock Resorts

Several institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC increased its stake in shares of Red Rock Resorts by 654.7% in the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock valued at $41,000 after buying an additional 766 shares in the last quarter. KBC Group NV grew its holdings in Red Rock Resorts by 37.1% during the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after acquiring an additional 540 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Red Rock Resorts by 47.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock valued at $95,000 after acquiring an additional 664 shares in the last quarter. Mayfair Advisory Group LLC raised its stake in shares of Red Rock Resorts by 15.1% in the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after acquiring an additional 591 shares during the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of Red Rock Resorts in the fourth quarter worth about $213,000. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Down 0.1 %

RRR opened at $40.70 on Tuesday. The business has a 50 day moving average of $45.49 and a 200-day moving average of $48.18. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 4.32 and a beta of 1.69. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 1-year low of $35.09 and a 1-year high of $61.73.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. As a group, sell-side analysts anticipate that Red Rock Resorts will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.46%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 39.84%.

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.