Analysts Set Red Rock Resorts, Inc. (NASDAQ:RRR) PT at $58.08

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) has earned a consensus recommendation of "Hold" from the twelve research firms that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $58.08.

Several research firms have issued reports on RRR. Barclays reduced their price objective on Red Rock Resorts from $65.00 to $62.00 and set an "overweight" rating on the stock in a report on Friday, November 8th. Macquarie cut their price target on Red Rock Resorts from $65.00 to $64.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. Wells Fargo & Company lowered their price objective on Red Rock Resorts from $64.00 to $58.00 and set an "equal weight" rating for the company in a research report on Thursday, October 17th. Truist Financial cut their target price on shares of Red Rock Resorts from $56.00 to $49.00 and set a "hold" rating on the stock in a research report on Tuesday, January 14th. Finally, Mizuho cut shares of Red Rock Resorts from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $57.00 to $44.00 in a research report on Monday, November 25th.

Red Rock Resorts Stock Performance

Shares of RRR traded up $1.79 on Thursday, reaching $49.52. 795,335 shares of the stock traded hands, compared to its average volume of 620,270. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 5.14 and a beta of 2.01. Red Rock Resorts has a 12 month low of $42.46 and a 12 month high of $63.28. The stock's 50-day moving average price is $47.47 and its 200-day moving average price is $52.01. 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 (NASDAQ:RRR - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.11. Red Rock Resorts had a net margin of 8.59% and a return on equity of 73.20%. The business had revenue of $468.02 million for the quarter, compared to analysts' expectations of $460.73 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Equities analysts forecast that Red Rock Resorts will post 1.44 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.25 per share. The ex-dividend date was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.02%. Red Rock Resorts's payout ratio is presently 37.04%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Quarry LP boosted its position in Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company's stock worth $61,000 after purchasing an additional 930 shares during the last quarter. US Bancorp DE raised its stake in shares of Red Rock Resorts by 2,223.9% during the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company's stock worth $85,000 after purchasing an additional 1,490 shares during the period. KBC Group NV boosted its holdings in shares of Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company's stock worth $92,000 after buying an additional 540 shares during the last quarter. Point72 DIFC Ltd bought a new position in Red Rock Resorts during the second quarter valued at about $98,000. Finally, nVerses Capital LLC increased its holdings in Red Rock Resorts by 28.6% during the third quarter. nVerses Capital LLC now owns 3,600 shares of the company's stock worth $196,000 after buying an additional 800 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

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.