Stifel Nicolaus reiterated their buy rating on shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in a report released on Friday, July 14th. The brokerage currently has a $27.00 price objective on the stock.
Other equities research analysts have also issued reports about the stock. Bank of America Corporation reissued a buy rating and set a $26.00 price objective (up from $24.50) on shares of Red Rock Resorts in a report on Monday, June 5th. Zacks Investment Research raised shares of Red Rock Resorts from a strong sell rating to a hold rating in a report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $26.14.
Red Rock Resorts (NASDAQ RRR) traded down 1.48% during trading on Friday, reaching $24.02. The company had a trading volume of 791,560 shares. The stock has a 50 day moving average of $23.87 and a 200-day moving average of $23.16. Red Rock Resorts has a 12-month low of $20.58 and a 12-month high of $24.76. The stock’s market capitalization is $1.58 billion.
Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.07. Red Rock Resorts had a return on equity of 10.00% and a net margin of 3.58%. The firm had revenue of $417.73 million during the quarter, compared to analysts’ expectations of $402.88 million. During the same period in the prior year, the firm posted $0.64 earnings per share. Red Rock Resorts’s revenue for the quarter was up 16.3% compared to the same quarter last year. On average, analysts forecast that Red Rock Resorts will post $1.33 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its position in Red Rock Resorts by 13.9% in the fourth quarter. State Street Corp now owns 523,367 shares of the company’s stock worth $12,134,000 after buying an additional 63,797 shares in the last quarter. Guggenheim Capital LLC acquired a new position in Red Rock Resorts during the fourth quarter worth about $275,000. Norges Bank acquired a new position in Red Rock Resorts during the fourth quarter worth about $3,335,000. Teachers Advisors LLC increased its position in Red Rock Resorts by 12.2% in the fourth quarter. Teachers Advisors LLC now owns 1,427,833 shares of the company’s stock worth $33,111,000 after buying an additional 154,887 shares in the last quarter. Finally, Creative Planning increased its position in Red Rock Resorts by 14,324.5% in the first quarter. Creative Planning now owns 28,849 shares of the company’s stock worth $640,000 after buying an additional 28,649 shares in the last quarter. Institutional investors own 58.43% of the company’s stock.
About Red Rock Resorts
Red Rock Resorts, Inc is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements.
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