Red Rock Resorts (NASDAQ:RRR) Price Target Raised to $61.00 at Susquehanna

Red Rock Resorts (NASDAQ:RRR) had its price objective hoisted by Susquehanna from $60.00 to $61.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a positive rating on the stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company dropped their price objective on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Truist Financial dropped their price objective 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. Mizuho boosted their price objective on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday. Jefferies Financial Group reissued a “hold” rating and set a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Finally, Barclays dropped their price objective 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. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Red Rock Resorts currently has a consensus rating of “Hold” and an average target price of $57.33.

Red Rock Resorts Price Performance

NASDAQ RRR opened at $52.79 on Wednesday. The firm’s fifty day simple moving average is $47.44 and its two-hundred day simple moving average is $51.32. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 12-month low of $42.46 and a 12-month high of $63.28. The firm has a market capitalization of $5.58 billion, a P/E ratio of 19.55, a P/E/G ratio of 5.28 and a beta of 2.02.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, topping 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%. Analysts forecast that Red Rock Resorts will post 1.44 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.25 dividend. 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 (DPR) is currently 39.84%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RRR. Sterling Capital Management LLC raised its position in shares of Red Rock Resorts by 654.7% in the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock worth $41,000 after acquiring an additional 766 shares during the period. Quarry LP raised its position in shares of Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after acquiring an additional 930 shares during the period. US Bancorp DE raised its position in shares of Red Rock Resorts by 2,223.9% in the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after acquiring an additional 1,490 shares during the period. KBC Group NV raised its position in shares of Red Rock Resorts by 37.1% in the fourth quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after acquiring an additional 540 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Red Rock Resorts by 47.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock worth $95,000 after acquiring an additional 664 shares during the period. Institutional investors and hedge funds 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.