Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $57.33 Average PT from Analysts

Red Rock Resorts, Inc. (NASDAQ:RRR) has been given an average rating of “Hold” by the twelve research firms that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $57.33.

RRR has been the topic of several recent analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $51.00 target price (down previously from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. JMP Securities dropped their target price on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus boosted their target price on Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Mizuho boosted their target price on Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, Susquehanna boosted their target price on Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a report on Wednesday, February 12th.

Hedge Funds Weigh In On Red Rock Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. purchased a new position in shares of Red Rock Resorts during the 4th quarter valued at $1,826,000. Voloridge Investment Management LLC lifted its stake in shares of Red Rock Resorts by 63.4% in the 4th quarter. Voloridge Investment Management LLC now owns 229,792 shares of the company’s stock valued at $10,626,000 after purchasing an additional 89,169 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Red Rock Resorts by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 13,855 shares of the company’s stock valued at $641,000 after purchasing an additional 4,560 shares during the last quarter. Malaga Cove Capital LLC lifted its stake in shares of Red Rock Resorts by 46.8% in the 4th quarter. Malaga Cove Capital LLC now owns 13,377 shares of the company’s stock valued at $619,000 after purchasing an additional 4,263 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Red Rock Resorts in the 4th quarter valued at $269,000. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Performance

RRR opened at $44.25 on Friday. The business’s 50 day moving average is $48.12 and its 200-day moving average is $49.93. The stock has a market cap of $4.69 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 4.32 and a beta of 2.01. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a twelve month low of $42.33 and a twelve month high of $63.29.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. On average, analysts predict that Red Rock Resorts will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.26%. The ex-dividend date is Monday, March 17th. Red Rock Resorts’s payout ratio is 39.84%.

About Red Rock Resorts

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.