Red Rock Resorts (NASDAQ:RRR) Price Target Raised to $61.00

Red Rock Resorts (NASDAQ:RRR) had its target price lifted by Susquehanna from $60.00 to $61.00 in a research note published on Wednesday morning,Benzinga reports. Susquehanna currently has a positive rating on the stock.

Several other research firms have also commented on RRR. Truist Financial dropped their price target on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Macquarie decreased their price objective 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. Jefferies Financial Group reissued a “hold” rating and issued a $51.00 price objective (down previously from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Wells Fargo & Company decreased their price objective on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Finally, Barclays decreased their price objective on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $57.33.

Red Rock Resorts Trading Up 1.3 %

RRR opened at $52.79 on Wednesday. The firm has a market cap of $5.58 billion, a P/E ratio of 19.55, a P/E/G ratio of 5.28 and a beta of 2.02. Red Rock Resorts has a 12 month low of $42.46 and a 12 month high of $63.28. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The stock has a 50-day moving average of $47.44 and a 200 day moving average of $51.32.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 73.20% and a net margin of 8.59%. As a group, research analysts forecast that Red Rock Resorts will post 1.44 EPS for the current year.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Monday, March 17th. Red Rock Resorts’s dividend payout ratio is presently 39.84%.

Institutional Trading of Red Rock Resorts

Institutional investors and hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC raised its stake in Red Rock Resorts by 654.7% in the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock worth $41,000 after buying an additional 766 shares in the last quarter. Quarry LP raised its stake in Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after buying an additional 930 shares in the last quarter. US Bancorp DE raised its stake in Red Rock Resorts by 2,223.9% in the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after buying an additional 1,490 shares in the last quarter. KBC Group NV raised its stake in Red Rock Resorts by 37.1% in the fourth quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after buying an additional 540 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Red Rock Resorts by 47.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock worth $95,000 after buying an additional 664 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

About Red Rock Resorts

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.