Red Rock Resorts (NASDAQ:RRR) Share Price Passes Above 200-Day Moving Average – What’s Next?

Red Rock Resorts, Inc. (NASDAQ:RRR) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $47.09 and traded as high as $56.82. Red Rock Resorts shares last traded at $54.93, with a volume of 926,540 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Truist Financial reduced their target price on Red Rock Resorts from $56.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley set a $49.00 price objective on shares of Red Rock Resorts and gave the company an “equal weight” rating in a research note on Friday, July 11th. Stifel Nicolaus decreased their price objective on shares of Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating for the company in a report on Friday, May 2nd. Mizuho upgraded shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Monday, June 2nd. Finally, Barclays reduced 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 research report on Tuesday, April 22nd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.55.

Red Rock Resorts Trading Down 2.4%

The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 9.04. The firm’s 50 day moving average is $50.09 and its two-hundred day moving average is $47.09. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 5.90 and a beta of 1.62.

Red Rock Resorts (NASDAQ:RRR) last posted 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 analyst estimates of $499.12 million. Red Rock Resorts had a return on equity of 56.45% and a net margin of 8.01%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 earnings per share. Equities analysts anticipate that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The business also recently announced an annual dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a $1.00 dividend. This represents a yield of 2.29%. The ex-dividend date of this dividend was Monday, June 16th. Red Rock Resorts’s payout ratio is 38.76%.

Hedge Funds Weigh In On Red Rock Resorts

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Red Rock Resorts by 7,978.4% in the first quarter. GAMMA Investing LLC now owns 8,240 shares of the company’s stock worth $357,000 after purchasing an additional 8,138 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Red Rock Resorts by 19.2% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company’s stock worth $69,494,000 after purchasing an additional 258,310 shares during the period. SG Americas Securities LLC bought a new position in Red Rock Resorts in the 1st quarter valued at about $750,000. KBC Group NV increased its stake in Red Rock Resorts by 44.6% during the 1st quarter. KBC Group NV now owns 2,887 shares of the company’s stock valued at $125,000 after buying an additional 891 shares during the period. Finally, Deutsche Bank AG increased its stake in Red Rock Resorts by 47.4% during the 4th quarter. Deutsche Bank AG now owns 41,788 shares of the company’s stock valued at $1,932,000 after buying an additional 13,441 shares during the period. Institutional investors own 47.84% of the company’s stock.

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.