Red Rock Resorts (NASDAQ:RRR) Price Target Cut to $55.00 by Analysts at JMP Securities

Red Rock Resorts (NASDAQ:RRR) had its target price trimmed by JMP Securities from $59.00 to $55.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

A number of other equities research analysts have also commented on RRR. Jefferies Financial Group reaffirmed a “hold” rating and issued a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Truist Financial lowered their price objective 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. Susquehanna decreased their target price on Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating for the company in a research note on Wednesday. Stifel Nicolaus boosted their price target on Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Finally, Mizuho raised their price objective on shares of Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $55.33.

Red Rock Resorts Stock Performance

Shares of Red Rock Resorts stock opened at $40.70 on Thursday. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 4.32 and a beta of 1.69. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a twelve month low of $35.09 and a twelve month high of $61.73. The company’s fifty day moving average is $45.29 and its 200 day moving average is $48.04.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. Sell-side analysts forecast that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Monday, March 17th. Red Rock Resorts’s dividend payout ratio (DPR) is 39.84%.

Institutional Investors Weigh In On Red Rock Resorts

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mayfair Advisory Group LLC boosted its stake in Red Rock Resorts by 8.1% during the 1st quarter. Mayfair Advisory Group LLC now owns 4,861 shares of the company’s stock valued at $211,000 after purchasing an additional 364 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Red Rock Resorts by 19.2% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company’s stock valued at $69,494,000 after purchasing an additional 258,310 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Red Rock Resorts during the first quarter valued at approximately $750,000. Rhumbline Advisers grew its holdings in Red Rock Resorts by 1.3% during the first quarter. Rhumbline Advisers now owns 73,332 shares of the company’s stock worth $3,180,000 after buying an additional 906 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Red Rock Resorts by 7,978.4% during the 1st quarter. GAMMA Investing LLC now owns 8,240 shares of the company’s stock valued at $357,000 after acquiring an additional 8,138 shares in the last quarter. 47.84% of the stock is owned by 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.