Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $71.15 Consensus Price Target from Brokerages

Red Rock Resorts, Inc. (NASDAQ:RRR) has been given an average rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $71.1538.

A number of brokerages have commented on RRR. Stifel Nicolaus boosted their target price on shares of Red Rock Resorts from $71.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Citizens Jmp lifted their price objective on shares of Red Rock Resorts from $65.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 14th. Morgan Stanley set a $62.00 price objective on shares of Red Rock Resorts in a research note on Thursday, February 12th. Weiss Ratings raised shares of Red Rock Resorts from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Finally, Susquehanna raised their target price on shares of Red Rock Resorts from $69.00 to $77.00 and gave the company a “positive” rating in a research note on Wednesday, February 11th.

Red Rock Resorts Trading Up 0.1%

Shares of NASDAQ:RRR opened at $58.15 on Friday. The company has a market capitalization of $6.11 billion, a PE ratio of 18.58, a P/E/G ratio of 2.41 and a beta of 1.46. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 10.26. Red Rock Resorts has a 12-month low of $35.09 and a 12-month high of $68.99. The business’s fifty day simple moving average is $62.22 and its 200-day simple moving average is $60.39.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.75 earnings per share for the quarter, topping 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 prior year, the business posted $0.76 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts predict that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, March 16th. Red Rock Resorts’s dividend payout ratio is currently 33.23%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRR. Salomon & Ludwin LLC purchased a new stake in Red Rock Resorts in the fourth quarter valued at about $25,000. Kestra Advisory Services LLC purchased a new stake in shares of Red Rock Resorts during the fourth quarter worth about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Red Rock Resorts by 230.5% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552 shares of the company’s stock worth $29,000 after acquiring an additional 385 shares during the last quarter. Strs Ohio acquired a new position in shares of Red Rock Resorts during the third quarter valued at about $37,000. Finally, GAMMA Investing LLC increased its holdings in shares of Red Rock Resorts by 53.8% during the fourth 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. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

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.