Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $67.67 Average Target Price from Analysts

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have received an average rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $67.6667.

Several brokerages have weighed in on RRR. Citigroup lowered their target price on shares of 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. Wall Street Zen lowered shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Citizens Jmp lowered their target price on shares of 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. Zacks Research lowered shares of Red Rock Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Finally, Stifel Nicolaus set a $72.00 target price on shares of Red Rock Resorts in a research note on Thursday, April 30th.

Red Rock Resorts Price Performance

Red Rock Resorts stock opened at $55.38 on Wednesday. Red Rock Resorts has a 52-week low of $46.17 and a 52-week high of $68.99. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 3.58 and a beta of 1.35. The company has a fifty day simple moving average of $55.30 and a 200-day simple moving average of $58.74. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share (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 business had revenue of $507.32 million for the quarter, compared to analysts’ expectations of $505.63 million. During the same period in the previous year, the company earned $0.75 EPS. Red Rock Resorts’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts anticipate that Red Rock Resorts will post 1.73 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 33.44%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Segall Bryant & Hamill LLC boosted its stake in shares of Red Rock Resorts by 123.6% in the first quarter. Segall Bryant & Hamill LLC now owns 36,165 shares of the company’s stock valued at $1,930,000 after purchasing an additional 19,991 shares during the period. California State Teachers Retirement System raised its holdings in Red Rock Resorts by 28.0% in the first quarter. California State Teachers Retirement System now owns 59,735 shares of the company’s stock valued at $3,187,000 after acquiring an additional 13,055 shares in the last quarter. Empowered Funds LLC acquired a new stake in Red Rock Resorts in the first quarter valued at approximately $269,000. Quantinno Capital Management LP raised its holdings in Red Rock Resorts by 167.7% in the first quarter. Quantinno Capital Management LP now owns 35,223 shares of the company’s stock valued at $1,880,000 after acquiring an additional 22,065 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Red Rock Resorts by 204.7% in the first quarter. Renaissance Technologies LLC now owns 300,400 shares of the company’s stock valued at $16,029,000 after acquiring an additional 201,800 shares in the last quarter. Hedge funds and other institutional investors 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.