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

Red Rock Resorts, Inc. (NASDAQ:RRR) has received an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $67.5333.

A number of brokerages have issued reports on RRR. Citigroup cut their target price on Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Stifel Nicolaus set a $70.00 target price on Red Rock Resorts in a research note on Friday, May 29th. JPMorgan Chase & Co. cut their target price on Red Rock Resorts from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Zacks Research downgraded Red Rock Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Finally, Truist Financial cut their target price on Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, April 30th.

Red Rock Resorts Stock Down 0.3%

NASDAQ RRR opened at $60.92 on Friday. The business has a fifty day moving average price of $56.04 and a 200 day moving average price of $59.06. Red Rock Resorts has a one year low of $49.47 and a one year high of $68.99. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market cap of $6.40 billion, a P/E ratio of 19.59, a P/E/G ratio of 4.63 and a beta of 1.36.

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

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, June 15th. Red Rock Resorts’s dividend payout ratio (DPR) is 33.44%.

Institutional Investors Weigh In On Red Rock Resorts

Hedge funds have recently bought and sold shares of the stock. Tudor Investment Corp ET AL acquired a new stake in Red Rock Resorts in the 3rd quarter valued at about $15,114,000. Cookson Peirce & Co. Inc. acquired a new stake in Red Rock Resorts in the 3rd quarter valued at about $1,203,000. Capital World Investors raised its position in Red Rock Resorts by 47.1% in the 3rd quarter. Capital World Investors now owns 312,500 shares of the company’s stock valued at $19,081,000 after purchasing an additional 100,000 shares in the last quarter. JPMorgan Chase & Co. raised its position in Red Rock Resorts by 92.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 180,185 shares of the company’s stock valued at $11,002,000 after purchasing an additional 86,770 shares in the last quarter. Finally, UBS Group AG raised its position in Red Rock Resorts by 205.1% in the 4th quarter. UBS Group AG now owns 476,311 shares of the company’s stock valued at $29,507,000 after purchasing an additional 320,175 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

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.