SunTrust Banks reiterated their buy rating on shares of Red Rock Resorts (NASDAQ:RRR) in a research note issued to investors on Thursday. The firm currently has a $38.00 price target on the stock. SunTrust Banks also issued estimates for Red Rock Resorts’ Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.29 EPS, Q2 2019 earnings at $0.40 EPS, Q3 2019 earnings at $0.35 EPS, Q4 2019 earnings at $0.40 EPS and Q2 2020 earnings at $0.51 EPS.
A number of other equities analysts have also recently weighed in on RRR. Nomura assumed coverage on Red Rock Resorts in a report on Tuesday, May 8th. They set a buy rating and a $39.00 price target for the company. Citigroup lowered their price target on Red Rock Resorts from $40.00 to $39.00 and set a buy rating for the company in a report on Wednesday, May 2nd. BidaskClub upgraded Red Rock Resorts from a sell rating to a hold rating in a report on Tuesday, April 24th. Finally, Zacks Investment Research cut Red Rock Resorts from a hold rating to a sell rating in a report on Thursday, May 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $35.30.
Shares of NASDAQ:RRR opened at $32.32 on Thursday. The company has a debt-to-equity ratio of 3.23, a current ratio of 0.67 and a quick ratio of 0.63. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 52.12 and a beta of 1.65. Red Rock Resorts has a 52-week low of $21.47 and a 52-week high of $36.99.
Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, July 31st. The company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.08. The company had revenue of $416.19 million during the quarter, compared to analysts’ expectations of $408.46 million. Red Rock Resorts had a return on equity of 13.23% and a net margin of 10.74%. equities analysts expect that Red Rock Resorts will post 1.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, September 13th. Red Rock Resorts’s dividend payout ratio is presently 64.52%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in Red Rock Resorts by 78.0% during the 2nd quarter. Millennium Management LLC now owns 1,772,281 shares of the company’s stock worth $59,371,000 after acquiring an additional 776,617 shares in the last quarter. Marshall Wace LLP acquired a new position in Red Rock Resorts during the 2nd quarter worth about $20,864,000. Caerus Investors LLC lifted its stake in Red Rock Resorts by 265.7% during the 2nd quarter. Caerus Investors LLC now owns 216,576 shares of the company’s stock worth $7,255,000 after acquiring an additional 157,352 shares in the last quarter. North Run Capital LP lifted its stake in Red Rock Resorts by 14.0% during the 2nd quarter. North Run Capital LP now owns 265,000 shares of the company’s stock worth $8,878,000 after acquiring an additional 32,500 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Red Rock Resorts during the 2nd quarter worth about $6,402,000. Institutional investors and hedge funds own 59.47% 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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