Red Rock Resorts Inc (RRR) Receives $31.60 Average Price Target from Brokerages

Red Rock Resorts Inc (NASDAQ:RRR) has earned a consensus recommendation of “Hold” from the nine research firms that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $31.50.

Several research firms have recently weighed in on RRR. BidaskClub lowered shares of Red Rock Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Zacks Investment Research lowered shares of Red Rock Resorts from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 14th. Nomura boosted their price target on shares of Red Rock Resorts to $32.00 and gave the company a “buy” rating in a research note on Wednesday, February 13th. Deutsche Bank restated a “buy” rating and set a $30.00 price target on shares of Red Rock Resorts in a research note on Wednesday, February 13th. Finally, ValuEngine upgraded shares of Red Rock Resorts from a “sell” rating to a “hold” rating in a research note on Wednesday, November 28th.

Shares of NASDAQ:RRR traded up $0.10 during mid-day trading on Wednesday, hitting $26.45. The company had a trading volume of 19,157 shares, compared to its average volume of 570,448. The firm has a market capitalization of $3.08 billion, a P/E ratio of 20.24 and a beta of 2.17. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 3.45. Red Rock Resorts has a one year low of $18.78 and a one year high of $36.99.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, February 12th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. The company had revenue of $431.47 million during the quarter, compared to analyst estimates of $408.61 million. Red Rock Resorts had a net margin of 9.37% and a return on equity of 12.06%. Red Rock Resorts’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 EPS. On average, analysts anticipate that Red Rock Resorts will post 1.2 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 14th will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, March 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.51%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 30.53%.

In other news, insider Joseph J. Hasson sold 1,500 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $28.83, for a total value of $43,245.00. Following the completion of the sale, the insider now owns 17,260 shares in the company, valued at approximately $497,605.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph J. Hasson sold 42,293 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $27.42, for a total transaction of $1,159,674.06. Following the completion of the sale, the insider now owns 58,921 shares of the company’s stock, valued at approximately $1,615,613.82. The disclosure for this sale can be found here. Insiders have sold a total of 131,721 shares of company stock valued at $3,487,693 in the last 90 days. 0.40% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc boosted its holdings in shares of Red Rock Resorts by 9.3% in the 3rd quarter. Vanguard Group Inc now owns 6,469,688 shares of the company’s stock worth $172,417,000 after buying an additional 552,550 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Red Rock Resorts by 59.7% in the 3rd quarter. Deutsche Bank AG now owns 665,463 shares of the company’s stock worth $17,733,000 after buying an additional 248,732 shares during the last quarter. Man Group plc boosted its holdings in shares of Red Rock Resorts by 106.9% in the 3rd quarter. Man Group plc now owns 50,688 shares of the company’s stock worth $1,351,000 after buying an additional 26,185 shares during the last quarter. Marshall Wace LLP lifted its holdings in Red Rock Resorts by 81.7% during the third quarter. Marshall Wace LLP now owns 1,131,876 shares of the company’s stock valued at $30,164,000 after purchasing an additional 509,081 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Red Rock Resorts by 4.1% during the third quarter. BlackRock Inc. now owns 4,761,350 shares of the company’s stock valued at $126,890,000 after purchasing an additional 185,448 shares during the last quarter. Hedge funds and other institutional investors own 63.00% of the company’s stock.

About Red Rock Resorts

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

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Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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