Red Rock Resorts, Inc. (NASDAQ:RRR) Stock Has Average Target Price of $69.35

Red Rock Resorts, Inc. (NASDAQ:RRR) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $69.35.

RRR has been the subject of several recent analyst reports. Truist Financial raised their price target on Red Rock Resorts from $68.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Bank of America increased their target price on shares of Red Rock Resorts from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Texas Capital raised shares of Red Rock Resorts to a “strong-buy” rating in a research note on Wednesday, September 9th. Barclays boosted their target price on Red Rock Resorts from $73.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, October 9th. Finally, Benchmark reaffirmed a “buy” rating on shares of Red Rock Resorts in a research report on Monday, August 31st.

Institutional Investors Weigh In On Red Rock Resorts

Several institutional investors have recently made changes to their positions in RRR. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Red Rock Resorts during the 2nd quarter worth $120,743,000. Marshall Wace LLP boosted its position in Red Rock Resorts by 3,250.4% in the 3rd quarter. Marshall Wace LLP now owns 498,475 shares of the company’s stock valued at $24,694,000 after buying an additional 483,597 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Red Rock Resorts by 204.7% during the first quarter. Renaissance Technologies LLC now owns 300,400 shares of the company’s stock valued at $16,029,000 after acquiring an additional 201,800 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Red Rock Resorts by 57.3% during the third quarter. Public Sector Pension Investment Board now owns 256,254 shares of the company’s stock valued at $13,002,000 after acquiring an additional 93,302 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Red Rock Resorts by 24.1% during the first quarter. Principal Financial Group Inc. now owns 287,633 shares of the company’s stock valued at $15,348,000 after acquiring an additional 55,845 shares in the last quarter. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Down 0.7%

Red Rock Resorts stock opened at $48.86 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.84 and a debt-to-equity ratio of 13.23. The firm has a market cap of $5.13 billion, a P/E ratio of 24.68, a P/E/G ratio of 21.80 and a beta of 1.42. The business has a fifty day moving average of $50.81 and a two-hundred day moving average of $57.55. Red Rock Resorts has a twelve month low of $46.29 and a twelve month high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.62). The company had revenue of $488.70 million for the quarter, compared to analysts’ expectations of $478.13 million. Red Rock Resorts had a return on equity of 44.39% and a net margin of 5.79%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share. On average, analysts forecast that Red Rock Resorts will post 1.39 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. Red Rock Resorts’s payout ratio is currently 52.53%.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc. is a gaming, entertainment and hospitality company focused on the Las Vegas market. Through its subsidiary Station Casinos LLC, it owns and operates casino resorts and other gaming and entertainment properties, primarily serving residents of the Las Vegas area. Its properties include casino gaming, restaurants, bars, hotels and entertainment venues. The company’s portfolio includes resorts such as Red Rock Casino Resort & Spa, Green Valley Ranch Resort Spa & Casino, and Durango Casino & Resort, along with several Station-branded properties.