Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $57.33 Consensus Target Price from Analysts

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) have earned a consensus rating of "Hold" from the twelve brokerages that are covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $55.33.

Several equities analysts recently issued reports on RRR shares. Stifel Nicolaus upped their price objective on shares of Red Rock Resorts from $50.00 to $54.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. Mizuho increased their price target on Red Rock Resorts from $44.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. JMP Securities lowered their price objective on Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating for the company in a research report on Thursday. Morgan Stanley reduced their target price on Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Finally, Truist Financial lowered their price target on Red Rock Resorts from $56.00 to $49.00 and set a "hold" rating for the company in a report on Tuesday, January 14th.

Red Rock Resorts Price Performance

Red Rock Resorts stock traded down $0.06 during mid-day trading on Tuesday, hitting $40.70. 448,460 shares of the company were exchanged, compared to its average volume of 562,751. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. Red Rock Resorts has a 12-month low of $35.09 and a 12-month high of $61.73. The business's 50 day simple moving average is $45.49 and its two-hundred day simple moving average is $48.18. The company has a market capitalization of $4.32 billion, a P/E ratio of 16.22, a PEG ratio of 4.32 and a beta of 1.69.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. Analysts forecast that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 2.46%. Red Rock Resorts's dividend payout ratio is currently 39.84%.

Hedge Funds Weigh In On Red Rock Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Long Pond Capital LP raised its position in Red Rock Resorts by 142.5% in the fourth quarter. Long Pond Capital LP now owns 1,474,153 shares of the company's stock valued at $68,165,000 after purchasing an additional 866,320 shares during the period. Bamco Inc. NY lifted its position in Red Rock Resorts by 6.9% during the 4th quarter. Bamco Inc. NY now owns 11,356,201 shares of the company's stock worth $525,111,000 after acquiring an additional 732,917 shares in the last quarter. Eminence Capital LP grew its position in Red Rock Resorts by 36.1% in the fourth quarter. Eminence Capital LP now owns 2,056,588 shares of the company's stock valued at $95,097,000 after acquiring an additional 546,047 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Red Rock Resorts by 167.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company's stock valued at $19,534,000 after purchasing an additional 264,609 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Red Rock Resorts by 19.2% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company's stock worth $69,494,000 after purchasing an additional 258,310 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company's stock.

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.