Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $52.00 Consensus Target Price from Analysts

Red Rock Resorts, Inc. (NASDAQ:RRR) has been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $52.00.

Several equities research analysts have recently weighed in on RRR shares. Macquarie reiterated an “outperform” rating and issued a $58.00 price objective on shares of Red Rock Resorts in a research note on Friday, May 2nd. Truist Financial lowered their price objective on Red Rock Resorts from $56.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley lowered their price objective on Red Rock Resorts from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. JMP Securities reduced their target price on Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating on the stock in a report on Thursday, April 17th. Finally, Mizuho raised Red Rock Resorts from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Monday, June 2nd.

Red Rock Resorts Trading Up 2.8%

RRR stock opened at $53.50 on Friday. Red Rock Resorts has a 1-year low of $35.09 and a 1-year high of $61.73. The firm has a market cap of $5.67 billion, a P/E ratio of 20.74, a P/E/G ratio of 5.65 and a beta of 1.62. The business’s 50 day moving average is $47.55 and its 200-day moving average is $46.46. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 9.04.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.33. Red Rock Resorts had a return on equity of 56.45% and a net margin of 8.01%. The company had revenue of $497.86 million for the quarter, compared to analyst estimates of $499.12 million. During the same period in the prior year, the company posted $0.68 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. Equities analysts anticipate that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a dividend of $1.00 per share. This represents a yield of 2.29%. The ex-dividend date of this dividend was Monday, June 16th. Red Rock Resorts’s dividend payout ratio is 38.76%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Arizona State Retirement System raised its position in shares of Red Rock Resorts by 1.5% during the 4th quarter. Arizona State Retirement System now owns 14,707 shares of the company’s stock valued at $680,000 after acquiring an additional 216 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Red Rock Resorts by 3.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,662 shares of the company’s stock valued at $492,000 after acquiring an additional 314 shares during the last quarter. Mayfair Advisory Group LLC raised its position in shares of Red Rock Resorts by 8.1% during the 1st quarter. Mayfair Advisory Group LLC now owns 4,861 shares of the company’s stock valued at $211,000 after acquiring an additional 364 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Red Rock Resorts by 3.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 15,651 shares of the company’s stock valued at $679,000 after acquiring an additional 456 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Red Rock Resorts by 47.7% during 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 during the last quarter. Institutional investors and hedge funds 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.