In yesterday’s Wall Street session, Red Rock Resorts Inc. (NASDAQ:RRR) shares traded at $40.80, up 1.97% from the previous session.
11 analysts cover Red Rock Resorts Inc. (NASDAQ:RRR), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $52.00 and a low of $39.00, we find $48.00. Given the previous closing price of $40.01, this indicates a potential upside of 19.97 percent. RRR stock price is now -1.60% away from the 50-day moving average and 3.79% away from the 200-day moving average. The market capitalization of the company currently stands at $4.25B.
The stock has received a hold rating from 3 analysts and a buy rating from 7. Brokers who have rated the stock have averaged $47.36 as their price target over the next twelve months.
With the price target of $52, Morgan Stanley recently initiated with Overweight rating for Red Rock Resorts Inc. (NASDAQ: RRR). On September 22, 2022, JMP Securities recently initiated its ‘Mkt Outperform’ rating on the stock quoting a target price of $50, while ‘Jefferies’ rates the stock as ‘Buy’.
In other news, Finch Robert A, EVP & Chief Operating Officer sold 22,663 shares of the company’s stock on Sep 15. The stock was sold for $893,149 at an average price of $39.41. Upon completion of the transaction, the EVP & Chief Operating Officer now directly owns 111,214 shares in the company, valued at $4.54 million. Insiders disposed of 76,211 shares of company stock worth roughly $3.11 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RRR stock. A new stake in Red Rock Resorts Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $29,075,000. JENNISON ASSOCIATES LLC invested $1,193,000 in shares of RRR during the first quarter. In the first quarter, VIRTUS INVESTMENT ADVISERS, INC. acquired a new stake in Red Rock Resorts Inc. valued at approximately $1,159,000. CORNERCAP INVESTMENT COUNSEL INC acquired a new stake in RRR for approximately $1,117,000. ERGOTELES LLC purchased a new stake in RRR valued at around $941,000 in the second quarter. In total, there are 273 active investors with 98.00% ownership of the company’s stock.
On Tuesday morning Red Rock Resorts Inc. (NASDAQ: RRR) stock kicked off with the opening price of $40.44. During the past 12 months, Red Rock Resorts Inc. has had a low of $30.30 and a high of $54.61. As of last week, the company has a debt-to-equity ratio of 88.90, a current ratio of 0.70, and a quick ratio of 0.70. The fifty day moving average price for RRR is $41.96 and a two-hundred day moving average price translates $40.09 for the stock.
The latest earnings results from Red Rock Resorts Inc. (NASDAQ: RRR) was released for Jun, 2022. According to the Resorts & Casinos Company, earnings per share came in at $0.83, beating analysts’ expectations of $0.5 by 0.33. This compares to $1.01 EPS in the same period last year. The net profit margin was 15.80% and return on equity was 542.50% for RRR. The company reported revenue of $414.44 million for the quarter, compared to $414.77 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.08 percent. For the current quarter, analysts expect RRR to generate $415.19M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/30/2022. Investors who held shares on 12/15/2022 were paid a $0.25 dividend. On an annualized basis, this represents a $1.00 dividend and a 2.45% percent yield. There was an ex-dividend date of 12/14/2022 for this dividend. In terms of dividend payout ratio, RRR is presently at 18.00%.
Red Rock Resorts Inc.(RRR) Company Profile
Red Rock Resorts, Inc., through its interest in Station Holdco and Station LLC, develops and operates casino and entertainment properties in the United States. It operates through two segments, Las Vegas Operations and Native American Management. The company owns and operates 9 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market. In addition, it manages Graton Resort & Casino in northern California. As of December 31, 2021, it operated approximately 13,894 slot machines, 240 table games, and 3,081 hotel rooms in the Las Vegas market. The company was formerly known as Station Casinos Corp. and changed its name to Red Rock Resorts, Inc. in January 2016. Red Rock Resorts, Inc. was incorporated in 1976 and is based in Las Vegas, Nevada.