Red Rock Resorts (NASDAQ:RRR) Earns Outperform Rating from Macquarie

Red Rock Resorts (NASDAQ:RRR)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Macquarie in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $58.00 target price on the stock. Macquarie’s price target suggests a potential upside of 32.39% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Susquehanna reduced their price objective on Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a research note on Wednesday, April 16th. JMP Securities decreased their price target on Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating on the stock in a report on Thursday, April 17th. Barclays dropped their price objective on shares of Red Rock Resorts from $58.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley lowered their target price on shares of Red Rock Resorts from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Red Rock Resorts presently has an average rating of “Hold” and an average target price of $52.83.

Red Rock Resorts Stock Up 3.6 %

Shares of RRR opened at $43.81 on Friday. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 4.32 and a beta of 1.64. Red Rock Resorts has a 1 year low of $35.09 and a 1 year high of $61.73. The business’s 50 day simple moving average is $43.33 and its 200-day simple moving average is $47.28.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.33. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. The company had revenue of $497.86 million for the quarter, compared to the consensus estimate of $499.12 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. Red Rock Resorts’s revenue was up 1.8% on a year-over-year basis. As a group, equities analysts expect that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RRR. Sterling Capital Management LLC increased its stake in shares of Red Rock Resorts by 654.7% during the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock valued at $41,000 after buying an additional 766 shares during the period. KBC Group NV grew its holdings in Red Rock Resorts by 37.1% during the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after acquiring an additional 540 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Red Rock Resorts by 47.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock valued at $95,000 after purchasing an additional 664 shares during the period. Mayfair Advisory Group LLC raised its holdings in shares of Red Rock Resorts by 15.1% in the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock valued at $208,000 after purchasing an additional 591 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of Red Rock Resorts in the 4th quarter worth approximately $213,000. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.