Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $71.24 Average Target Price from Brokerages

Red Rock Resorts, Inc. (NASDAQ:RRR) has been given a consensus recommendation of “Moderate Buy” by the eighteen research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $71.8824.

Several research analysts have commented on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Red Rock Resorts in a report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $72.00 price target on shares of Red Rock Resorts in a report on Thursday, April 30th. Citigroup reissued a “buy” rating on shares of Red Rock Resorts in a research note on Wednesday. Wall Street Zen raised Red Rock Resorts from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Wells Fargo & Company increased their target price on Red Rock Resorts from $75.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday.

Hedge Funds Weigh In On Red Rock Resorts

Institutional investors have recently bought and sold shares of the stock. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Red Rock Resorts in the second quarter worth about $120,743,000. Valeo Financial Advisors LLC grew its stake in Red Rock Resorts by 4.7% during the second quarter. Valeo Financial Advisors LLC now owns 5,201 shares of the company’s stock valued at $338,000 after acquiring an additional 234 shares in the last quarter. SWP Investment Management LLC bought a new stake in shares of Red Rock Resorts in the second quarter worth about $2,782,000. Empowered Funds LLC purchased a new stake in shares of Red Rock Resorts during the 1st quarter worth approximately $269,000. Finally, Segall Bryant & Hamill LLC grew its stake in shares of Red Rock Resorts by 123.6% in the 1st quarter. Segall Bryant & Hamill LLC now owns 36,165 shares of the company’s stock worth $1,930,000 after buying an additional 19,991 shares in the last quarter. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Price Performance

RRR opened at $61.88 on Monday. The firm has a 50-day moving average of $62.93 and a 200 day moving average of $59.84. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81. Red Rock Resorts has a fifty-two week low of $50.52 and a fifty-two week high of $68.99. The firm has a market cap of $6.50 billion, a P/E ratio of 21.87, a PEG ratio of 4.70 and a beta of 1.36.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.51 by $0.16. The company had revenue of $510.26 million during the quarter, compared to the consensus estimate of $500.08 million. Red Rock Resorts had a net margin of 8.43% and a return on equity of 55.65%. Red Rock Resorts’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.95 EPS. On average, research analysts expect that Red Rock Resorts will post 1.49 EPS for the current year.

Red Rock Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 15th. Red Rock Resorts’s payout ratio is currently 36.75%.

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.