Analysts Set Red Rock Resorts, Inc. (NASDAQ:RRR) Price Target at $70.86

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have earned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $70.50.

A number of equities research analysts have issued reports on RRR shares. Citigroup reissued a “market outperform” rating on shares of Red Rock Resorts in a report on Tuesday, March 10th. Susquehanna upped their target price on Red Rock Resorts from $69.00 to $77.00 and gave the company a “positive” rating in a report on Wednesday, February 11th. UBS Group set a $73.00 target price on Red Rock Resorts in a report on Wednesday, December 24th. Mizuho set a $77.00 target price on Red Rock Resorts in a report on Wednesday, February 11th. Finally, Benchmark began coverage on Red Rock Resorts in a report on Monday, March 23rd. They set a “buy” rating and a $67.00 target price for the company.

Red Rock Resorts Price Performance

Shares of Red Rock Resorts stock opened at $55.74 on Tuesday. The firm has a market cap of $5.85 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.29 and a beta of 1.48. Red Rock Resorts has a 12-month low of $35.09 and a 12-month high of $68.99. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 10.26. The company’s fifty day simple moving average is $60.15 and its two-hundred day simple moving average is $59.73.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.34. The business had revenue of $511.78 million for the quarter, compared to analyst estimates of $500.90 million. Red Rock Resorts had a net margin of 9.35% and a return on equity of 58.13%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. As a group, equities analysts expect that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. Red Rock Resorts’s payout ratio is presently 33.23%.

Institutional Investors Weigh In On Red Rock Resorts

A number of large investors have recently modified their holdings of the stock. Hsbc Holdings PLC boosted its stake in shares of Red Rock Resorts by 34.8% during the 4th quarter. Hsbc Holdings PLC now owns 32,355 shares of the company’s stock valued at $2,007,000 after purchasing an additional 8,357 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Red Rock Resorts by 1,924.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock valued at $31,000 after purchasing an additional 481 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of Red Rock Resorts during the 4th quarter valued at about $201,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of Red Rock Resorts by 2.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 323,267 shares of the company’s stock valued at $20,027,000 after purchasing an additional 6,464 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Red Rock Resorts by 345.6% during the 4th quarter. Invesco Ltd. now owns 1,054,086 shares of the company’s stock valued at $65,301,000 after purchasing an additional 817,524 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.