Analysts Set Red Rock Resorts, Inc. (NASDAQ:RRR) Target Price at $52.83

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) has been given a consensus rating of "Hold" by the eleven brokerages that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $52.64.

A number of research analysts have issued reports on RRR shares. JMP Securities reduced their price objective on shares of Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating on the stock in a research report on Thursday, April 17th. Barclays reduced their price objective 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. Morgan Stanley reduced their price objective on shares of Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Stifel Nicolaus reduced their price objective on shares of Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating on the stock in a research report on Friday, May 2nd. Finally, Mizuho reduced their price objective on shares of Red Rock Resorts from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd.

Institutional Trading of Red Rock Resorts

Hedge funds and other institutional investors have recently modified their holdings of the business. Arizona State Retirement System grew its position in Red Rock Resorts by 1.5% during the 4th quarter. Arizona State Retirement System now owns 14,707 shares of the company's stock valued at $680,000 after purchasing an additional 216 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in Red Rock Resorts by 3.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,662 shares of the company's stock valued at $492,000 after purchasing an additional 314 shares during the last quarter. Mayfair Advisory Group LLC grew its position in Red Rock Resorts by 8.1% during the 1st quarter. Mayfair Advisory Group LLC now owns 4,861 shares of the company's stock valued at $211,000 after purchasing an additional 364 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Red Rock Resorts by 3.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 15,651 shares of the company's stock valued at $679,000 after purchasing an additional 456 shares during the last quarter. Finally, KBC Group NV grew its position in Red Rock Resorts by 37.1% during the 4th quarter. KBC Group NV now owns 1,996 shares of the company's stock valued at $92,000 after purchasing an additional 540 shares during the last quarter. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Trading Down 0.3%

NASDAQ:RRR traded down $0.16 during midday trading on Friday, reaching $47.05. 74,190 shares of the stock traded hands, compared to its average volume of 567,585. The company has a fifty day moving average of $42.79 and a 200 day moving average of $46.95. Red Rock Resorts has a 12 month low of $35.09 and a 12 month high of $61.73. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The stock has a market capitalization of $4.99 billion, a P/E ratio of 18.68, a PEG ratio of 4.32 and a beta of 1.64.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 7.94% and a return on equity of 71.00%. The firm's revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 EPS. On average, research analysts predict that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 14th will be given a $1.00 dividend. This represents a dividend yield of 2.29%. The ex-dividend date of this dividend is Wednesday, May 14th. Red Rock Resorts's dividend payout ratio 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.