Red Rock Resorts, Inc. (NASDAQ:RRR) Stock Has Average Price Target of $71.94 According to Brokerages

Red Rock Resorts, Inc. (NASDAQ:RRR) has been given a consensus rating of “Moderate Buy” by the twenty-one research firms that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $71.94.

RRR has been the topic of several recent research reports. Truist Financial raised their price objective on Red Rock Resorts from $68.00 to $75.00 and gave the company a “buy” rating in a report on Monday, July 20th. Citizens Jmp upped their target price on Red Rock Resorts from $69.00 to $71.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 5th. Citigroup reiterated a “buy” rating on shares of Red Rock Resorts in a research report on Wednesday, August 5th. Texas Capital raised Red Rock Resorts to a “strong-buy” rating in a research note on Wednesday, September 9th. Finally, Capital One Financial upgraded Red Rock Resorts to a “buy” rating in a report on Wednesday, September 9th.

Insider Transactions at Red Rock Resorts

In other Red Rock Resorts news, President Scott Kreeger sold 31,159 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $61.78, for a total value of $1,925,003.02. Following the completion of the transaction, the president directly owned 203,881 shares in the company, valued at approximately $12,595,768.18. This represents a 13.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 54.34% of the company’s stock.

Hedge Funds Weigh In On Red Rock Resorts

A number of hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC bought a new position in Red Rock Resorts during the 2nd quarter worth $500,000. Tidal Investments LLC acquired a new stake in shares of Red Rock Resorts in the second quarter valued at about $217,000. Squarepoint Ops LLC raised its position in shares of Red Rock Resorts by 39.0% during the second quarter. Squarepoint Ops LLC now owns 10,999 shares of the company’s stock worth $716,000 after acquiring an additional 3,088 shares during the last quarter. Nykredit A S bought a new position in shares of Red Rock Resorts during the second quarter worth about $45,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Red Rock Resorts in the second quarter worth approximately $3,220,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Trading Up 1.4%

Shares of Red Rock Resorts stock opened at $51.63 on Tuesday. The firm has a market capitalization of $5.42 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 4.00 and a beta of 1.31. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 12.33. The firm’s 50 day moving average is $59.45 and its 200 day moving average is $58.59. Red Rock Resorts has a 1 year low of $47.78 and a 1 year high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.16. The business had revenue of $510.26 million during the quarter, compared to analysts’ expectations of $500.08 million. Red Rock Resorts had a net margin of 8.43% and a return on equity of 56.19%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. Equities research analysts forecast that Red Rock Resorts will post 1.54 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Red Rock Resorts’s payout ratio is presently 36.75%.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc is a gaming and entertainment company based in Las Vegas, Nevada. Through its subsidiary Station Casinos, the company owns and operates casino resorts, hotel properties, and neighborhood casinos, with a primary focus on the Southern Nevada market.

Its properties offer casino gaming, hotel accommodations, restaurants, bars, entertainment venues, meeting and event spaces, and other amenities. The portfolio includes Red Rock Casino Resort & Spa, Green Valley Ranch Resort Spa and Casino, Durango Casino & Resort, Palace Station, Boulder Station, Sunset Station, Santa Fe Station, and a number of Wildfire casino locations.