Brokerages Set Red Rock Resorts, Inc. (NASDAQ:RRR) PT at $70.86

Red Rock Resorts, Inc. (NASDAQ:RRR) has earned a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $70.8571.

Several equities analysts have recently weighed in on RRR shares. Citizens Jmp lifted their price objective on Red Rock Resorts from $65.00 to $68.00 and gave the company a “market outperform” rating in a report on Wednesday, January 14th. Benchmark began coverage on Red Rock Resorts in a research note on Monday, March 23rd. They set a “buy” rating and a $67.00 target price for the company. Wells Fargo & Company raised their target price on shares of Red Rock Resorts from $58.00 to $59.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 11th. Weiss Ratings lowered shares of Red Rock Resorts from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 16th. Finally, Stifel Nicolaus upped their price target on shares of Red Rock Resorts from $71.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, February 11th.

Hedge Funds Weigh In On Red Rock Resorts

A number of large investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new stake in shares of Red Rock Resorts in the fourth quarter valued at about $25,000. Kestra Advisory Services LLC bought a new position in shares of Red Rock Resorts during the fourth quarter worth about $27,000. Rockefeller Capital Management L.P. raised its position in Red Rock Resorts by 1,924.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock valued at $31,000 after buying an additional 481 shares during the last quarter. Strs Ohio acquired a new stake in Red Rock Resorts in the 3rd quarter valued at approximately $37,000. Finally, GAMMA Investing LLC lifted its stake in Red Rock Resorts by 53.8% in the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after acquiring an additional 263 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Performance

Shares of Red Rock Resorts stock opened at $55.04 on Tuesday. The company has a market capitalization of $5.78 billion, a PE ratio of 17.58, a PEG ratio of 2.28 and a beta of 1.48. Red Rock Resorts has a 12 month low of $35.09 and a 12 month high of $68.99. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 10.26. The stock’s fifty day simple moving average is $60.39 and its 200 day simple moving average is $59.81.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.34. Red Rock Resorts had a return on equity of 58.13% and a net margin of 9.35%.The firm had revenue of $511.78 million during the quarter, compared to analysts’ expectations of $500.90 million. During the same period in the previous year, the firm earned $0.76 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. On average, research analysts predict that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, March 16th. Red Rock Resorts’s payout ratio is currently 33.23%.

About Red Rock Resorts

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.