Today: The Red Rock Resorts Inc. (RRR) Now Covered by Macquarie

The Red Rock Resorts Inc. (RRR) Now Covered by Macquarie

Macquarie started coverage on shares of Red Rock Resorts Inc. (NASDAQ:RRR) in a research note issued to investors on Monday morning. The brokerage issued an outperform rating and a $26.00 target price on the stock.

Several other equities analysts have also weighed in on RRR. Deutsche Bank AG restated a buy rating on shares of Red Rock Resorts in a research report on Sunday, June 26th. Citigroup Inc. reaffirmed a buy rating and set a $25.00 price objective on shares of Red Rock Resorts in a report on Tuesday, August 16th. Wells Fargo & Co. reaffirmed a buy rating on shares of Red Rock Resorts in a report on Wednesday, June 15th. Stifel Nicolaus reaffirmed a buy rating on shares of Red Rock Resorts in a report on Friday, September 9th. Finally, Goldman Sachs Group Inc. began coverage on shares of Red Rock Resorts in a report on Monday, September 26th. They set a neutral rating and a $22.00 price objective on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Red Rock Resorts currently has an average rating of Buy and an average price target of $24.57.

Red Rock Resorts (NASDAQ:RRR) opened at 22.50 on Monday. Red Rock Resorts has a 12-month low of $18.25 and a 12-month high of $23.87. The firm has a 50-day moving average of $22.43 and a 200 day moving average of $21.66. The company has a market capitalization of $2.61 billion and a price-to-earnings ratio of 19.08.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Monday, August 15th. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.39. The company had revenue of $351.50 million for the quarter, compared to the consensus estimate of $350.07 million. Red Rock Resorts’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts expect that Red Rock Resorts will post $1.21 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new stake in shares of Red Rock Resorts during the second quarter worth about $45,790,000. Ameriprise Financial Inc. bought a new stake in shares of Red Rock Resorts during the second quarter worth $3,228,000. Neuberger Berman Group LLC bought a new stake in shares of Red Rock Resorts during the second quarter worth $12,265,000. First Trust Advisors LP bought a new stake in shares of Red Rock Resorts during the second quarter worth $1,325,000. Finally, Cadence Capital Management LLC bought a new stake in shares of Red Rock Resorts during the second quarter worth $260,000.

Red Rock Resorts Company Profile

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