Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $52.83 Consensus Target Price from Brokerages

Red Rock Resorts, Inc. (NASDAQ:RRR) has received an average rating of “Hold” from the eleven analysts that are currently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $52.64.

Several equities analysts have recently commented on RRR shares. Truist Financial dropped their target price on shares of Red Rock Resorts from $56.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Stifel Nicolaus decreased their price target on shares of Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating on the stock in a report on Friday, May 2nd. Macquarie reaffirmed an “outperform” rating and set a $58.00 price target on shares of Red Rock Resorts in a report on Friday, May 2nd. Susquehanna decreased their price target on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a report on Wednesday, April 16th. Finally, Barclays decreased their price target on shares of Red Rock Resorts from $58.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd.

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors have recently added to or reduced their stakes in the business. Bamco Inc. NY grew its holdings in Red Rock Resorts by 6.9% during the 4th quarter. Bamco Inc. NY now owns 11,356,201 shares of the company’s stock worth $525,111,000 after acquiring an additional 732,917 shares during the last quarter. Vanguard Group Inc. grew its holdings in Red Rock Resorts by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 5,181,146 shares of the company’s stock worth $239,576,000 after acquiring an additional 50,193 shares during the last quarter. Eminence Capital LP grew its holdings in Red Rock Resorts by 20.5% during the 1st quarter. Eminence Capital LP now owns 2,478,311 shares of the company’s stock worth $107,484,000 after acquiring an additional 421,723 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Red Rock Resorts by 19.2% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company’s stock worth $69,494,000 after acquiring an additional 258,310 shares during the last quarter. Finally, Long Pond Capital LP grew its holdings in Red Rock Resorts by 142.5% during the 4th quarter. Long Pond Capital LP now owns 1,474,153 shares of the company’s stock worth $68,165,000 after acquiring an additional 866,320 shares during the last quarter. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Price Performance

Shares of NASDAQ:RRR opened at $47.10 on Friday. The firm has a 50 day moving average of $42.92 and a 200-day moving average of $46.85. The stock has a market capitalization of $4.99 billion, a PE ratio of 18.77, a PEG ratio of 4.32 and a beta of 1.64. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 12 month low of $35.09 and a 12 month high of $61.73.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.47 by $0.33. The company had revenue of $497.86 million during the quarter, compared to analysts’ expectations of $499.12 million. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 EPS. On average, equities research analysts predict that Red Rock Resorts will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 14th will be issued a dividend of $1.00 per share. This represents a yield of 2.29%. The ex-dividend date is Wednesday, May 14th. Red Rock Resorts’s payout ratio is 38.76%.

About Red Rock Resorts

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.