Red Rock Resorts Inc. (RRR) Receives New Coverage from Analysts at Macquarie
Several other research firms have also recently weighed in on RRR. Deutsche Bank AG reiterated a buy rating on shares of Red Rock Resorts in a report on Sunday, June 26th. Citigroup Inc. reiterated a buy rating and issued a $25.00 price target on shares of Red Rock Resorts in a report on Tuesday, August 16th. Wells Fargo & Co. reiterated a buy rating on shares of Red Rock Resorts in a report on Wednesday, June 15th. Stifel Nicolaus reiterated a buy rating on shares of Red Rock Resorts in a report on Friday, September 9th. Finally, Goldman Sachs Group Inc. started coverage on shares of Red Rock Resorts in a report on Monday, September 26th. They issued a neutral rating and a $22.00 price target on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $24.33.
Red Rock Resorts (NASDAQ:RRR) traded down 0.43% during mid-day trading on Monday, hitting $23.19. 22,782 shares of the stock traded hands. The firm’s 50-day moving average is $22.42 and its 200 day moving average is $21.64. The firm has a market cap of $2.69 billion and a P/E ratio of 19.67. Red Rock Resorts has a 52-week low of $18.25 and a 52-week high of $23.87.
Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Monday, August 15th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.39. The firm had revenue of $351.50 million for the quarter, compared to analysts’ expectations of $350.07 million. The company’s revenue was up 4.1% on a year-over-year basis. Equities analysts predict that Red Rock Resorts will post $1.21 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of RRR. Artemis Investment Management LLP bought a new position in Red Rock Resorts during the second quarter valued at about $10,721,000. DSAM Partners London Ltd acquired a new position in shares of Red Rock Resorts during the second quarter worth $3,341,000. California State Teachers Retirement System acquired a new position in shares of Red Rock Resorts during the second quarter worth $1,386,000. Bank of New York Mellon Corp acquired a new position in shares of Red Rock Resorts during the second quarter worth $2,205,000. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Red Rock Resorts during the second quarter worth $962,000.
About Red Rock Resorts
Red Rock Resorts, Inc is a gaming, development and management company. The Company develops and operates casino entertainment properties. The Company owns and operates over nine gaming and entertainment facilities and over 10 smaller casinos in the Las Vegas regional market. In addition, the Company manages Graton Resort in Sonoma County, California, and Gun Lake in Allegan County, Michigan.
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