Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $67.53 Average Price Target from Brokerages

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been assigned an average recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $67.5333.

Several analysts have recently weighed in on the stock. Benchmark reduced their price objective on shares of Red Rock Resorts from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Jefferies Financial Group decreased their target price on Red Rock Resorts from $79.00 to $74.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Citizens Jmp reduced their price objective on Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. Stifel Nicolaus set a $70.00 target price on shares of Red Rock Resorts in a research report on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $72.00 price objective on shares of Red Rock Resorts in a research note on Thursday, April 30th.

Red Rock Resorts Price Performance

RRR stock opened at $61.33 on Friday. The business’s 50-day moving average is $56.22 and its two-hundred day moving average is $59.08. The company has a debt-to-equity ratio of 14.42, a current ratio of 0.81 and a quick ratio of 0.76. Red Rock Resorts has a 1 year low of $49.47 and a 1 year high of $68.99. The firm has a market capitalization of $6.44 billion, a P/E ratio of 19.72, a P/E/G ratio of 4.48 and a beta of 1.36.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Wednesday, April 29th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The firm had revenue of $507.32 million for the quarter, compared to analyst estimates of $505.63 million. During the same quarter in the previous year, the firm posted $0.75 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts anticipate that Red Rock Resorts will post 1.53 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, June 15th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 33.44%.

Hedge Funds Weigh In On Red Rock Resorts

Several hedge funds have recently bought and sold shares of RRR. Salomon & Ludwin LLC acquired a new stake in Red Rock Resorts during the 4th quarter valued at $25,000. Kestra Advisory Services LLC acquired a new stake in shares of Red Rock Resorts during the fourth quarter worth $27,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Red Rock Resorts by 1,924.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock worth $31,000 after acquiring an additional 481 shares during the period. GAMMA Investing LLC increased its holdings in shares of Red Rock Resorts by 53.8% during the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after buying an additional 263 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Red Rock Resorts by 98.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock valued at $91,000 after acquiring an additional 733 shares in the last quarter. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.