Red Rock Resorts (NASDAQ:RRR) Share Price Passes Above 200 Day Moving Average - Here's Why

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $47.09 and traded as high as $56.82. Red Rock Resorts shares last traded at $54.93, with a volume of 926,540 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RRR shares. Morgan Stanley set a $49.00 price target on Red Rock Resorts and gave the company an "equal weight" rating in a report on Friday, July 11th. JMP Securities boosted their price target on Red Rock Resorts from $55.00 to $57.00 and gave the stock a "market outperform" rating in a research report on Friday. Susquehanna reduced their price target on Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating for the company in a research report on Wednesday, April 16th. Macquarie reiterated an "outperform" rating and set a $58.00 price target on shares of Red Rock Resorts in a research report on Friday, May 2nd. Finally, Barclays boosted their price target on Red Rock Resorts from $54.00 to $62.00 and gave the stock an "overweight" rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.45.

Red Rock Resorts Price Performance

The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 3.62 and a beta of 1.62. The stock has a fifty day simple moving average of $50.75 and a 200-day simple moving average of $47.27. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 9.04.

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

Red Rock Resorts Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a $1.00 dividend. The ex-dividend date was Monday, June 16th. This represents a yield of 2.29%. Red Rock Resorts's payout ratio is 38.76%.

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Red Rock Resorts in the fourth quarter valued at about $292,000. Swiss National Bank grew its stake in Red Rock Resorts by 1.4% in the fourth quarter. Swiss National Bank now owns 99,700 shares of the company's stock valued at $4,610,000 after acquiring an additional 1,400 shares during the period. Commonwealth Equity Services LLC grew its stake in Red Rock Resorts by 184.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 12,509 shares of the company's stock valued at $578,000 after acquiring an additional 8,107 shares during the period. Cibc World Markets Corp acquired a new position in Red Rock Resorts in the fourth quarter valued at about $213,000. Finally, Semanteon Capital Management LP acquired a new position in Red Rock Resorts in the fourth quarter valued at about $1,479,000. 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.