Mizuho Reaffirms Outperform Rating for Red Rock Resorts (NASDAQ:RRR)

Mizuho reiterated their outperform rating on shares of Red Rock Resorts (NASDAQ:RRR) in a report issued on Tuesday,Benzinga reports. They currently have a $57.00 price target on the stock, down from their previous price target of $67.00.

RRR has been the subject of a number of other research reports. Stifel Nicolaus boosted their price target on Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Macquarie dropped their price target on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Susquehanna upped their price objective on Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Barclays decreased their price target on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

Red Rock Resorts Trading Up 1.3 %

Shares of RRR stock opened at $50.84 on Tuesday. The firm’s 50-day simple moving average is $53.15 and its 200-day simple moving average is $53.75. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.89. Red Rock Resorts has a 1-year low of $43.08 and a 1-year high of $63.28. The firm has a market cap of $5.37 billion, a P/E ratio of 18.83, a PEG ratio of 6.38 and a beta of 2.04.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 37.04%.

Hedge Funds Weigh In On Red Rock Resorts

Several hedge funds have recently modified their holdings of the company. Bamco Inc. NY grew its holdings in shares of Red Rock Resorts by 1.0% in the 3rd quarter. Bamco Inc. NY now owns 10,623,284 shares of the company’s stock worth $578,332,000 after acquiring an additional 106,509 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Red Rock Resorts by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock valued at $307,292,000 after buying an additional 209,593 shares during the period. Eminence Capital LP grew its stake in Red Rock Resorts by 23.7% in the second quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock valued at $107,265,000 after purchasing an additional 374,128 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Red Rock Resorts by 26.7% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock valued at $65,706,000 after buying an additional 251,855 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Red Rock Resorts by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock worth $63,776,000 after purchasing an additional 14,029 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.