Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $61.50 Consensus Target Price from Analysts

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twelve research firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $61.50.

Several equities research analysts have recently issued reports on the stock. Mizuho restated an "outperform" rating and set a $57.00 price target (down previously from $67.00) on shares of Red Rock Resorts in a research note on Tuesday. Macquarie cut their price objective on shares of Red Rock Resorts from $65.00 to $64.00 and set an "outperform" rating for the company in a report on Friday, November 8th. JMP Securities reaffirmed a "market outperform" rating and issued a $65.00 price objective on shares of Red Rock Resorts in a report on Monday, October 14th. Truist Financial cut their price objective on shares of Red Rock Resorts from $63.00 to $58.00 and set a "hold" rating for the company in a report on Wednesday, October 23rd. Finally, Morgan Stanley raised their price objective on shares of Red Rock Resorts from $54.00 to $56.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 4th.

Institutional Trading of Red Rock Resorts

A number of hedge funds have recently made changes to their positions in RRR. Bamco Inc. NY raised its position in Red Rock Resorts by 1.0% in the 3rd quarter. Bamco Inc. NY now owns 10,623,284 shares of the company's stock worth $578,332,000 after purchasing an additional 106,509 shares during the period. Vanguard Group Inc. raised its position in Red Rock Resorts by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company's stock worth $307,292,000 after purchasing an additional 209,593 shares during the period. Eminence Capital LP increased its position in shares of Red Rock Resorts by 23.7% in the second quarter. Eminence Capital LP now owns 1,952,754 shares of the company's stock valued at $107,265,000 after acquiring an additional 374,128 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in shares of Red Rock Resorts by 26.7% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company's stock valued at $65,706,000 after acquiring an additional 251,855 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Red Rock Resorts by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company's stock valued at $63,776,000 after acquiring an additional 14,029 shares during the period. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Stock Performance

Shares of RRR stock traded up $0.63 during trading hours on Friday, hitting $50.84. 862,367 shares of the company were exchanged, compared to its average volume of 488,530. The firm has a fifty day simple moving average of $53.15 and a 200 day simple moving average of $53.76. The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 52-week low of $43.08 and a 52-week high of $63.28. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 6.38 and a beta of 2.04.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts's dividend payout ratio is currently 37.04%.

Red Rock Resorts Company Profile

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.