Red Rock Resorts Inc (RRR) Receives $34.78 Consensus Price Target from Analysts

Shares of Red Rock Resorts Inc (NASDAQ:RRR) have been given an average rating of “Hold” by the fourteen research firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $34.78.

A number of research firms have recently issued reports on RRR. BidaskClub cut Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Friday, August 10th. Zacks Investment Research cut Red Rock Resorts from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. ValuEngine cut Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Monday, October 8th. TheStreet cut Red Rock Resorts from a “b-” rating to a “c” rating in a report on Monday, September 24th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $38.00 price objective on shares of Red Rock Resorts in a report on Thursday, August 16th.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Diamond Hill Capital Management Inc. boosted its holdings in shares of Red Rock Resorts by 1.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,785,077 shares of the company’s stock worth $160,300,000 after purchasing an additional 55,976 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Red Rock Resorts by 7.5% in the 2nd quarter. BlackRock Inc. now owns 4,575,902 shares of the company’s stock valued at $153,294,000 after acquiring an additional 319,277 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Red Rock Resorts by 78.0% in the 2nd quarter. Millennium Management LLC now owns 1,772,281 shares of the company’s stock valued at $59,371,000 after acquiring an additional 776,617 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Red Rock Resorts by 8.5% in the 2nd quarter. Northern Trust Corp now owns 877,529 shares of the company’s stock valued at $29,399,000 after acquiring an additional 68,819 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Red Rock Resorts by 4.8% in the 2nd quarter. Victory Capital Management Inc. now owns 845,987 shares of the company’s stock valued at $28,340,000 after acquiring an additional 38,690 shares during the last quarter. Hedge funds and other institutional investors own 61.29% of the company’s stock.

Red Rock Resorts stock traded up $0.87 during midday trading on Friday, hitting $26.09. 54,052 shares of the company’s stock were exchanged, compared to its average volume of 681,140. Red Rock Resorts has a 52-week low of $23.40 and a 52-week high of $36.99. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 3.23. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 40.54 and a beta of 1.59.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Tuesday, July 31st. The company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. Red Rock Resorts had a return on equity of 13.23% and a net margin of 10.74%. The business had revenue of $416.19 million during the quarter, compared to analysts’ expectations of $408.46 million. On average, research analysts anticipate that Red Rock Resorts will post 1.4 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Thursday, September 13th. Red Rock Resorts’s payout ratio is currently 64.52%.

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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