Red Rock Resorts, Inc. (NASDAQ:RRR) Stock Has Consensus Target Price of $71.94

Key Points

• Analysts remain broadly positive: Red Rock Resorts has a “Moderate Buy” consensus rating from 21 analysts, with an average 12-month price target of $71.94 versus a recent share price of $49.28.
• Quarterly results beat expectations: The company reported adjusted earnings of $0.67 per share and revenue of $510.26 million, exceeding analyst estimates, although revenue declined 3% year over year.
• Shareholders received a dividend: Red Rock Resorts paid a quarterly dividend of $0.26 per share, equivalent to $1.04 annually and a 2.1% yield; the company also saw insider selling by its president.

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twenty-one analysts that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $71.94.

RRR has been the subject of a number of research reports. Benchmark reaffirmed a "buy" rating on shares of Red Rock Resorts in a report on Monday, August 31st. UBS Group set a $75.00 target price on Red Rock Resorts in a research report on Thursday, July 2nd. Texas Capital upgraded shares of Red Rock Resorts to a "strong-buy" rating in a report on Wednesday, September 9th. Weiss Ratings reissued a "hold (c+)" rating on shares of Red Rock Resorts in a research report on Tuesday, October 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Red Rock Resorts from $66.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th.

Red Rock Resorts Stock Performance

Shares of RRR stock opened at $49.28 on Friday. The business has a fifty day moving average of $54.98 and a 200 day moving average of $57.72. Red Rock Resorts has a 1 year low of $47.49 and a 1 year high of $68.99. The company has a debt-to-equity ratio of 12.33, a current ratio of 0.68 and a quick ratio of 0.63. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 4.14 and a beta of 1.40.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.16. The business had revenue of $510.26 million for the quarter, compared to the consensus estimate of $500.08 million. Red Rock Resorts had a return on equity of 56.19% and a net margin of 8.43%. The company's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 EPS. As a group, research analysts expect that Red Rock Resorts will post 1.54 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 15th. Red Rock Resorts's dividend payout ratio is 36.75%.

Insider Buying and Selling at Red Rock Resorts

In other news, President Scott Kreeger sold 31,159 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $61.78, for a total value of $1,925,003.02. Following the sale, the president owned 203,881 shares in the company, valued at $12,595,768.18. This represents a 13.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 54.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. grew its position in Red Rock Resorts by 1,924.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company's stock worth $31,000 after purchasing an additional 481 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Red Rock Resorts by 4,566.7% in the 3rd 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 period. Nykredit A S acquired a new position in shares of Red Rock Resorts in the 2nd quarter valued at about $45,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Red Rock Resorts in the second quarter worth about $47,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Red Rock Resorts in the second quarter worth about $52,000. 47.84% of the stock is currently owned by institutional investors and hedge funds.

About Red Rock Resorts

Red Rock Resorts, Inc is a gaming, entertainment and hospitality company based in Las Vegas, Nevada. Through its principal operating subsidiary, Station Casinos, the company owns and operates casino resorts and neighborhood casinos, primarily in the Las Vegas metropolitan area. Its properties offer casino gaming, hotel accommodations, restaurants, bars, entertainment venues, spas and meeting facilities.

The company's portfolio includes Red Rock Casino Resort & Spa, Green Valley Ranch Resort Spa and Casino, Palace Station, Boulder Station, Santa Fe Station, Sunset Station and Durango Casino & Resort, along with casinos operating under the Wildfire brand.

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.