Brokerages Set Red Rock Resorts, Inc. (NASDAQ:RRR) PT at $52.00

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eleven brokerages that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $52.00.

RRR has been the topic of several recent research reports. JPMorgan Chase & Co. started coverage on shares of Red Rock Resorts in a research report on Monday, June 23rd. They set an "overweight" rating and a $62.00 target price on the stock. Stifel Nicolaus dropped their target price on Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating for the company in a report on Friday, May 2nd. Morgan Stanley decreased their price target on Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Barclays cut their price target on shares of Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Mizuho raised shares of Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research note on Monday, June 2nd.

Institutional Trading of Red Rock Resorts

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRR. Long Pond Capital LP lifted its stake in Red Rock Resorts by 142.5% in the fourth quarter. Long Pond Capital LP now owns 1,474,153 shares of the company's stock valued at $68,165,000 after buying an additional 866,320 shares during the period. Bamco Inc. NY raised its holdings in Red Rock Resorts by 6.9% in the fourth quarter. Bamco Inc. NY now owns 11,356,201 shares of the company's stock worth $525,111,000 after purchasing an additional 732,917 shares during the period. Eminence Capital LP grew its holdings in shares of Red Rock Resorts by 36.1% in the 4th quarter. Eminence Capital LP now owns 2,056,588 shares of the company's stock valued at $95,097,000 after buying an additional 546,047 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Red Rock Resorts by 167.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company's stock worth $19,534,000 after buying an additional 264,609 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Red Rock Resorts by 19.2% during 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 acquiring an additional 258,310 shares in the last quarter. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Stock Performance

Red Rock Resorts stock traded up $0.91 during trading hours on Friday, reaching $54.41. 1,197,120 shares of the company were exchanged, compared to its average volume of 602,745. Red Rock Resorts has a 12 month low of $35.09 and a 12 month high of $61.73. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 9.04. The stock has a 50-day moving average of $47.55 and a 200 day moving average of $46.46. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 5.65 and a beta of 1.62.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.33. Red Rock Resorts had a net margin of 8.01% and a return on equity of 56.45%. The business had revenue of $497.86 million during the quarter, compared to analysts' expectations of $499.12 million. During the same period in the previous year, the company earned $0.68 earnings per share. Red Rock Resorts's revenue for the quarter was up 1.8% on a year-over-year basis. As a group, research analysts anticipate that Red Rock Resorts will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The company also recently declared an annual dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a dividend of $1.00 per share. This represents a dividend yield of 2.29%. The ex-dividend date was Monday, June 16th. Red Rock Resorts's dividend payout ratio (DPR) is presently 38.76%.

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.