Brokerages Set Red Rock Resorts Inc (RRR) Target Price at $35.00

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Shares of Red Rock Resorts Inc (NASDAQ:RRR) have received a consensus rating of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $35.00.

RRR has been the topic of several recent research reports. BidaskClub lowered Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Friday, August 10th. SunTrust Banks reaffirmed a “buy” rating and issued a $38.00 price target on shares of Red Rock Resorts in a research note on Thursday, August 16th. ValuEngine lowered Red Rock Resorts from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. TheStreet lowered Red Rock Resorts from a “b-” rating to a “c” rating in a research note on Monday, September 24th. Finally, Zacks Investment Research lowered Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Friday, October 5th.

Shares of NASDAQ:RRR traded down $1.06 during trading on Monday, hitting $23.20. 677,136 shares of the stock were exchanged, compared to its average volume of 761,492. Red Rock Resorts has a 1-year low of $21.20 and a 1-year high of $36.99. The firm has a market capitalization of $2.83 billion, a PE ratio of 37.42 and a beta of 1.70. The company has a current ratio of 0.72, a quick ratio of 0.68 and a debt-to-equity ratio of 3.29.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.04). Red Rock Resorts had a return on equity of 12.27% and a net margin of 10.84%. The firm had revenue of $412.30 million for the quarter, compared to analyst estimates of $409.03 million. During the same period in the previous year, the business posted $0.16 EPS. Red Rock Resorts’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, sell-side analysts predict that Red Rock Resorts will post 1.13 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, December 13th. Red Rock Resorts’s dividend payout ratio is 64.52%.

A number of institutional investors have recently bought and sold shares of the business. Bamco Inc. NY boosted its stake in Red Rock Resorts by 1.9% in the third quarter. Bamco Inc. NY now owns 8,260,501 shares of the company’s stock worth $220,142,000 after purchasing an additional 154,158 shares in the last quarter. Vanguard Group Inc. boosted its stake in Red Rock Resorts by 9.3% in the third quarter. Vanguard Group Inc. now owns 6,469,688 shares of the company’s stock worth $172,417,000 after purchasing an additional 552,550 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Red Rock Resorts by 24.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 5,942,846 shares of the company’s stock worth $158,377,000 after purchasing an additional 1,157,769 shares in the last quarter. Cohen & Steers Inc. boosted its stake in Red Rock Resorts by 29.0% in the third quarter. Cohen & Steers Inc. now owns 5,753,425 shares of the company’s stock worth $153,329,000 after purchasing an additional 1,293,107 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Red Rock Resorts by 4.1% in the third quarter. BlackRock Inc. now owns 4,761,350 shares of the company’s stock worth $126,890,000 after purchasing an additional 185,448 shares in the last quarter. 64.28% of the stock is currently owned by institutional investors.

About Red Rock Resorts

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

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Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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