Red Rock Resorts (NASDAQ:RRR) Price Target Raised to $62.00 at Barclays

Red Rock Resorts (NASDAQ:RRRFree Report) had its target price lifted by Barclays from $60.00 to $62.00 in a research note released on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also recently issued reports about the company. Susquehanna upped their price objective on Red Rock Resorts from $52.00 to $66.00 and gave the company a positive rating in a research report on Thursday. Stifel Nicolaus upped their price objective on Red Rock Resorts from $47.00 to $54.00 and gave the company a hold rating in a research report on Thursday, December 21st. Truist Financial increased their price target on Red Rock Resorts from $46.00 to $55.00 and gave the company a hold rating in a report on Wednesday, December 20th. JPMorgan Chase & Co. lowered their price target on Red Rock Resorts from $54.00 to $50.00 and set an overweight rating on the stock in a report on Wednesday, November 8th. Finally, Macquarie raised Red Rock Resorts from a neutral rating to an outperform rating and increased their price target for the company from $51.00 to $58.00 in a report on Wednesday, January 17th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $59.10.

View Our Latest Stock Report on Red Rock Resorts

Red Rock Resorts Stock Performance

Shares of RRR opened at $57.91 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 20.81. The business’s 50 day moving average price is $51.56 and its 200-day moving average price is $46.13. Red Rock Resorts has a 52 week low of $37.82 and a 52 week high of $59.31. The stock has a market cap of $6.05 billion, a P/E ratio of 19.63, a P/E/G ratio of 22.48 and a beta of 2.07.

Red Rock Resorts (NASDAQ:RRRGet Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.55. The business had revenue of $462.71 million for the quarter, compared to analysts’ expectations of $440.75 million. Red Rock Resorts had a return on equity of 141.95% and a net margin of 10.21%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 EPS. Equities research analysts anticipate that Red Rock Resorts will post 1.86 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a $0.25 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.73%. Red Rock Resorts’s payout ratio is presently 33.90%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Red Rock Resorts during the 1st quarter valued at about $30,000. Lazard Asset Management LLC bought a new position in shares of Red Rock Resorts in the 4th quarter valued at about $34,000. Spotlight Asset Group Inc. bought a new position in shares of Red Rock Resorts in the 2nd quarter valued at about $47,000. Tower Research Capital LLC TRC lifted its holdings in shares of Red Rock Resorts by 601.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,283 shares of the company’s stock valued at $57,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Red Rock Resorts in the 2nd quarter valued at about $92,000. Institutional investors own 51.21% of the company’s stock.

About Red Rock Resorts

(Get Free Report)

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, develops and operates casino and entertainment properties in the United States. It operates through two segments, Las Vegas Operations and Native American Management. The company owns and operates 6 gaming and entertainment facilities, and 9 smaller casinos in the Las Vegas regional market.

See Also

Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

Receive News & Ratings for Red Rock Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Rock Resorts and related companies with MarketBeat.com's FREE daily email newsletter.