Brokerages Set Red Rock Resorts, Inc. (NASDAQ:RRR) PT at $57.33

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have earned a consensus recommendation of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $57.33.

Several equities research analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Jefferies Financial Group restated a “hold” rating and set a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Truist Financial dropped their price objective on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Macquarie lowered their price target on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Barclays lowered their price target on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, November 8th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RRR. Arizona State Retirement System boosted its position in Red Rock Resorts by 1.5% during the 4th quarter. Arizona State Retirement System now owns 14,707 shares of the company’s stock worth $680,000 after acquiring an additional 216 shares during the period. Avior Wealth Management LLC boosted its position in Red Rock Resorts by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 7,898 shares of the company’s stock worth $430,000 after acquiring an additional 232 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in Red Rock Resorts by 3.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,662 shares of the company’s stock worth $492,000 after acquiring an additional 314 shares during the period. KBC Group NV boosted its position in Red Rock Resorts by 37.1% during the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after acquiring an additional 540 shares during the period. Finally, Mayfair Advisory Group LLC boosted its position in Red Rock Resorts by 15.1% during the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after acquiring an additional 591 shares during the period. 47.84% of the stock is currently owned by institutional investors.

Red Rock Resorts Stock Performance

Red Rock Resorts stock opened at $49.97 on Monday. The stock’s 50 day moving average price is $48.08 and its 200 day moving average price is $51.13. The firm has a market capitalization of $5.28 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 4.32 and a beta of 2.02. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. Red Rock Resorts has a one year low of $42.46 and a one year high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. As a group, sell-side analysts expect that Red Rock Resorts will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.00%. Red Rock Resorts’s payout ratio is currently 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.