Brokerages Set Red Rock Resorts, Inc. (NASDAQ:RRR) PT at $52.64

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) has received a consensus rating of "Moderate Buy" from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $52.64.

RRR has been the topic of several recent analyst reports. Mizuho raised shares of Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 target price on the stock in a report on Monday. Stifel Nicolaus decreased 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 note on Friday, May 2nd. Morgan Stanley lowered their price objective on shares of Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Truist Financial reduced their target price on Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Finally, Macquarie reiterated an "outperform" rating and issued a $58.00 price target on shares of Red Rock Resorts in a research note on Friday, May 2nd.

Red Rock Resorts Price Performance

NASDAQ:RRR traded up $0.07 during trading hours on Wednesday, reaching $49.40. 362,582 shares of the company were exchanged, compared to its average volume of 582,611. The business has a 50 day moving average of $43.80 and a 200 day moving average of $46.43. Red Rock Resorts has a 1-year low of $35.09 and a 1-year high of $61.73. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The company has a market capitalization of $5.24 billion, a P/E ratio of 19.68, a P/E/G ratio of 4.32 and a beta of 1.64.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.33. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. The company had revenue of $497.86 million for the quarter, compared to analyst estimates of $499.12 million. During the same period in the prior year, the firm posted $0.68 EPS. Red Rock Resorts's quarterly revenue was up 1.8% on a year-over-year basis. Research analysts forecast that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently disclosed an annual dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $1.00 dividend. This represents a dividend yield of 2.29%. The ex-dividend date is Monday, June 16th. Red Rock Resorts's dividend payout ratio is currently 38.76%.

Institutional Trading of Red Rock Resorts

Several institutional investors have recently modified their holdings of RRR. Barclays PLC lifted its holdings in Red Rock Resorts by 227.9% during the 3rd quarter. Barclays PLC now owns 78,932 shares of the company's stock worth $4,297,000 after buying an additional 54,863 shares during the period. KBC Group NV raised its position in shares of Red Rock Resorts by 37.1% during the fourth quarter. KBC Group NV now owns 1,996 shares of the company's stock worth $92,000 after acquiring an additional 540 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Red Rock Resorts in the fourth quarter worth approximately $366,000. Vaughan Nelson Investment Management L.P. boosted its holdings in Red Rock Resorts by 20.6% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company's stock valued at $62,149,000 after acquiring an additional 229,843 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in Red Rock Resorts by 19.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 42,390 shares of the company's stock valued at $1,960,000 after acquiring an additional 6,969 shares during the last quarter. Institutional investors own 47.84% of the company's stock.

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.