Stifel Nicolaus Issues Positive Forecast for Red Rock Resorts (NASDAQ:RRR) Stock Price

Red Rock Resorts (NASDAQ:RRR) had its target price upped by Stifel Nicolaus from $50.00 to $54.00 in a report published on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts also recently issued research reports about the stock. Truist Financial cut their price target on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group reiterated a “hold” rating and issued a $51.00 target price (down previously from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. JMP Securities lowered their price target on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Mizuho raised their price objective on Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Susquehanna lifted their price objective on Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $57.33.

Red Rock Resorts Trading Up 1.3 %

NASDAQ:RRR opened at $51.57 on Wednesday. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 5.28 and a beta of 2.02. Red Rock Resorts has a 1 year low of $42.46 and a 1 year high of $63.28. The stock has a fifty day moving average price of $47.34 and a two-hundred day moving average price of $51.35. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a net margin of 8.59% and a return on equity of 73.20%. As a group, sell-side analysts anticipate that Red Rock Resorts will post 1.44 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 yield of 1.94%. The ex-dividend date is Monday, March 17th. Red Rock Resorts’s dividend payout ratio (DPR) is 37.04%.

Hedge Funds Weigh In On Red Rock Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bamco Inc. NY grew its stake in Red Rock Resorts by 1.0% during the 3rd quarter. Bamco Inc. NY now owns 10,623,284 shares of the company’s stock valued at $578,332,000 after purchasing an additional 106,509 shares in the last quarter. Vanguard Group Inc. increased its holdings in Red Rock Resorts by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 5,181,146 shares of the company’s stock valued at $239,576,000 after buying an additional 50,193 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Red Rock Resorts by 20.6% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock valued at $62,149,000 after purchasing an additional 229,843 shares during the last quarter. Geode Capital Management LLC raised its position 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 period. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Red Rock Resorts by 3.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock worth $61,763,000 after acquiring an additional 38,443 shares during the period. 47.84% of the stock is owned by hedge funds and other institutional investors.

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.