Mizuho Forecasts Strong Price Appreciation for Red Rock Resorts (NASDAQ:RRR) Stock

Red Rock Resorts (NASDAQ:RRR - Free Report) had its target price lifted by Mizuho from $44.00 to $52.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts also recently commented on the stock. Barclays cut their price target on shares of Red Rock Resorts from $65.00 to $62.00 and set an "overweight" rating on the stock in a report on Friday, November 8th. JMP Securities cut their price target on shares of 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. Susquehanna cut their price target on shares of Red Rock Resorts from $66.00 to $60.00 and set a "positive" rating on the stock in a report on Tuesday, February 4th. Macquarie cut their price target on shares of Red Rock Resorts from $65.00 to $64.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. Finally, 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 report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $57.33.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR traded up $0.69 during mid-day trading on Wednesday, hitting $52.79. 620,794 shares of the company's stock traded hands, compared to its average volume of 573,413. The company's 50-day moving average is $47.44 and its two-hundred day moving average is $51.32. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The company has a market capitalization of $5.58 billion, a P/E ratio of 19.55, 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.

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

Red Rock Resorts Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. Red Rock Resorts's dividend payout ratio is presently 37.04%.

Institutional Investors Weigh In On Red Rock Resorts

A number of hedge funds and other institutional investors have recently bought and sold shares of RRR. Long Pond Capital LP lifted its position 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 acquiring an additional 866,320 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Red Rock Resorts by 4,050.3% in the third quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company's stock worth $18,170,000 after buying an additional 325,727 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Red Rock Resorts by 167.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company's stock worth $19,534,000 after buying an additional 264,609 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Red Rock Resorts by 20.6% in the fourth 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 last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Red Rock Resorts by 239.0% in the third quarter. Wellington Management Group LLP now owns 185,018 shares of the company's stock worth $10,072,000 after buying an additional 130,434 shares during the last quarter. Hedge funds and other institutional investors own 47.84% of the company's stock.

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.