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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have received a consensus recommendation of “Moderate Buy” from the sixteen ratings 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 twelve have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $67.6667.

A number of research analysts have recently commented on RRR shares. Benchmark cut their price target on Red Rock Resorts from $67.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Susquehanna cut their price target on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating for the company in a report on Thursday, April 30th. 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. Zacks Research lowered Red Rock Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group cut their target price on Red Rock Resorts from $79.00 to $74.00 and set a “buy” rating for the company in a research note on Monday, April 6th.

Red Rock Resorts Price Performance

Shares of RRR stock opened at $55.38 on Wednesday. Red Rock Resorts has a 12 month low of $46.17 and a 12 month high of $68.99. The firm has a market cap of $5.82 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 3.72 and a beta of 1.35. The stock has a 50 day moving average of $55.30 and a 200-day moving average of $58.78. 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 issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 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 analyst estimates of $505.63 million. During the same quarter last year, the firm earned $0.75 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts predict that Red Rock Resorts will post 1.71 EPS for the current 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 paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, June 15th. Red Rock Resorts’s dividend payout ratio is presently 33.44%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Salomon & Ludwin LLC acquired a new position in shares of Red Rock Resorts in the fourth quarter valued at $25,000. Kestra Advisory Services LLC acquired a new position in shares of Red Rock Resorts in the fourth quarter valued at $27,000. Rockefeller Capital Management L.P. raised its stake in shares of Red Rock Resorts by 1,924.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock valued at $31,000 after purchasing an additional 481 shares in the last quarter. Strs Ohio acquired a new position in shares of Red Rock Resorts in the third quarter valued at $37,000. Finally, GAMMA Investing LLC raised its stake in shares of Red Rock Resorts by 53.8% in the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after purchasing an additional 263 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

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.