Red Rock Resorts (NASDAQ:RRR) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Red Rock Resorts (NASDAQ:RRR - Free Report) had its price objective raised by Stifel Nicolaus from $50.00 to $54.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

A number of other equities analysts have also issued reports on RRR. Truist Financial reduced their target price on shares of Red Rock Resorts from $56.00 to $49.00 and set a "hold" rating on the stock in a research report on Tuesday, January 14th. Macquarie reduced their price objective on Red Rock Resorts from $65.00 to $64.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. Susquehanna lifted their target price on Red Rock Resorts from $60.00 to $61.00 and gave the company a "positive" rating in a research note on Wednesday. Wells Fargo & Company dropped their target price on Red Rock Resorts from $64.00 to $58.00 and set an "equal weight" rating for the company in a research report on Thursday, October 17th. Finally, JMP Securities decreased their price target on Red Rock Resorts from $61.00 to $57.00 and set a "market outperform" rating on the stock in a report on Thursday, January 16th. Seven equities research 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 a consensus rating of "Hold" and an average price target of $57.33.

Red Rock Resorts Price Performance

RRR stock traded up $0.63 during midday trading on Wednesday, reaching $52.73. 359,411 shares of the company's stock traded hands, compared to its average volume of 669,672. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 5.28 and a beta of 2.02. The company has a 50-day simple moving average of $47.37 and a two-hundred day simple moving average of $51.35. Red Rock Resorts has a 1-year low of $42.46 and a 1-year high of $63.28.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.34. Red Rock Resorts had a return on equity of 73.20% and a net margin of 8.59%. On average, analysts anticipate that Red Rock Resorts will post 1.44 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Monday, March 17th. Red Rock Resorts's dividend payout ratio (DPR) is currently 37.04%.

Institutional Trading of Red Rock Resorts

A number of hedge funds have recently modified their holdings of RRR. Long Pond Capital LP grew its holdings in Red Rock Resorts by 142.5% during the fourth quarter. Long Pond Capital LP now owns 1,474,153 shares of the company's stock valued at $68,165,000 after purchasing an additional 866,320 shares during the period. Sequoia Financial Advisors LLC grew its holdings in shares of Red Rock Resorts by 4,050.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company's stock valued at $18,170,000 after buying an additional 325,727 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Red Rock Resorts by 167.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company's stock valued at $19,534,000 after buying an additional 264,609 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Red Rock Resorts by 20.6% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company's stock worth $62,149,000 after buying an additional 229,843 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Red Rock Resorts by 239.0% during the third quarter. Wellington Management Group LLP now owns 185,018 shares of the company's stock worth $10,072,000 after acquiring an additional 130,434 shares in 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.