Red Rock Resorts (NASDAQ:RRR) Shares Gap Up on Strong Earnings

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report)'s stock price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $50.92, but opened at $53.11. Red Rock Resorts shares last traded at $53.42, with a volume of 176,073 shares.

The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 73.20% and a net margin of 8.59%.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. Red Rock Resorts's dividend payout ratio is currently 37.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their price target on Red Rock Resorts from $64.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 17th. JMP Securities decreased their price target on Red Rock Resorts from $61.00 to $57.00 and set a "market outperform" rating on the stock in a research report on Thursday, January 16th. Macquarie decreased their price target on Red Rock Resorts from $65.00 to $64.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. Susquehanna increased their price target on Red Rock Resorts from $60.00 to $61.00 and gave the stock a "positive" rating in a research report on Wednesday. Finally, Barclays decreased their price target on Red Rock Resorts from $65.00 to $62.00 and set an "overweight" rating on the stock in a research report on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Red Rock Resorts has a consensus rating of "Hold" and a consensus target price of $57.33.

Institutional Trading of Red Rock Resorts

Several hedge funds have recently added to or reduced their stakes in RRR. Sterling Capital Management LLC raised its stake in Red Rock Resorts by 654.7% during the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock worth $41,000 after buying an additional 766 shares during the period. Quarry LP raised its stake in Red Rock Resorts by 479.4% during the 3rd quarter. Quarry LP now owns 1,124 shares of the company's stock worth $61,000 after buying an additional 930 shares during the period. US Bancorp DE raised its stake in 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 buying an additional 1,490 shares during the period. KBC Group NV increased its holdings 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 purchasing an additional 540 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Red Rock Resorts by 47.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock worth $95,000 after purchasing an additional 664 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company's stock.

Red Rock Resorts Stock Performance

The stock has a market cap of $5.57 billion, a P/E ratio of 19.56, a PEG ratio of 5.28 and a beta of 2.02. The stock has a fifty day simple moving average of $47.37 and a 200-day simple moving average of $51.35. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02.

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.