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

Key Points

• Analysts have a “Moderate Buy” consensus on Red Rock Resorts: 14 recommend buying, one strongly recommends buying, and four rate it a hold. The average 12-month price target is $69.35.
• The stock opened at $49.46, below its 50-day and 200-day moving averages. In its latest quarter, Red Rock missed EPS estimates ($0.17 loss versus $0.45 expected), though revenue of $488.7 million exceeded forecasts and rose 2.8% year over year.
• The company announced a quarterly dividend of $0.26 per share, equivalent to $1.04 annually and a 2.1% yield.

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the nineteen ratings firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $69.35.

A number of equities research analysts have recently weighed in on RRR shares. Weiss Ratings downgraded Red Rock Resorts from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $65.00 price objective on shares of Red Rock Resorts in a report on Tuesday, October 13th. Mizuho set a $62.00 target price on shares of Red Rock Resorts in a research note on Wednesday, November 4th. Wolfe Research began coverage on shares of Red Rock Resorts in a research note on Wednesday, September 2nd. They set an "outperform" rating and a $73.00 target price for the company. Finally, Wells Fargo & Company dropped their target price on shares of Red Rock Resorts from $78.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, November 5th.

Red Rock Resorts Stock Down 0.8%

Shares of Red Rock Resorts stock opened at $49.46 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 $5.19 billion, a P/E ratio of 24.98, a P/E/G ratio of 5.05 and a beta of 1.42. Red Rock Resorts has a fifty-two week low of $46.29 and a fifty-two week high of $68.99. The business has a 50-day moving average price of $51.25 and a 200 day moving average price of $57.73.

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

Red Rock Resorts Dividend Announcement

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

Hedge Funds Weigh In On Red Rock Resorts

A number of large investors have recently bought and sold shares of the business. Valeo Financial Advisors LLC raised its position in shares of Red Rock Resorts by 4.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 5,201 shares of the company's stock worth $338,000 after purchasing an additional 234 shares during the period. GAMMA Investing LLC increased its position in Red Rock Resorts by 64.0% in the third quarter. GAMMA Investing LLC now owns 1,058 shares of the company's stock worth $52,000 after buying an additional 413 shares during the period. Rockefeller Capital Management L.P. increased its position in Red Rock Resorts by 1,924.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company's stock worth $31,000 after buying an additional 481 shares during the period. Inceptionr LLC increased its position in Red Rock Resorts by 3.9% in the first quarter. Inceptionr LLC now owns 13,283 shares of the company's stock worth $709,000 after buying an additional 499 shares during the period. Finally, Fortitude Family Office LLC lifted its stake in Red Rock Resorts by 4,566.7% in the third quarter. Fortitude Family Office LLC now owns 560 shares of the company's stock valued at $28,000 after buying an additional 548 shares during the last quarter. Institutional investors own 47.84% of the company's stock.

About Red Rock Resorts

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.