Red Rock Resorts (NASDAQ:RRR) Given New $60.00 Price Target at Susquehanna

Red Rock Resorts (NASDAQ:RRR) had its price target cut by Susquehanna from $66.00 to $60.00 in a research report report published on Tuesday,Benzinga reports. They currently have a positive rating on the stock.

A number of other research firms have also recently weighed in on RRR. Wells Fargo & Company cut their price target on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Jefferies Financial Group reissued a “hold” rating and issued a $51.00 target price (down previously from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Truist Financial lowered their price target on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. JMP Securities reduced their price objective on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 16th. Finally, Mizuho cut shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $57.00 to $44.00 in a research note on Monday, November 25th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $57.25.

Red Rock Resorts Trading Down 0.2 %

NASDAQ:RRR opened at $48.54 on Tuesday. Red Rock Resorts has a 52-week low of $42.46 and a 52-week high of $63.28. 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 stock has a fifty day simple moving average of $47.36 and a 200-day simple moving average of $51.64. The company has a market capitalization of $5.13 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 5.30 and a beta of 2.02.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.11. Red Rock Resorts had a net margin of 8.59% and a return on equity of 73.20%. The company had revenue of $468.02 million for the quarter, compared to the consensus estimate of $460.73 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. On average, equities research analysts expect that Red Rock Resorts will post 1.44 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Monday, December 16th. Red Rock Resorts’s dividend payout ratio is currently 37.04%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RRR. The Manufacturers Life Insurance Company increased its position in shares of Red Rock Resorts by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 28,668 shares of the company’s stock worth $1,575,000 after acquiring an additional 1,900 shares in the last quarter. Algert Global LLC acquired a new stake in Red Rock Resorts in the 2nd quarter valued at $279,000. Creative Planning raised its position in Red Rock Resorts by 5.9% in the second quarter. Creative Planning now owns 15,902 shares of the company’s stock valued at $873,000 after purchasing an additional 886 shares during the period. Truist Financial Corp lifted its stake in shares of Red Rock Resorts by 0.9% during the second quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock worth $1,513,000 after purchasing an additional 241 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Red Rock Resorts by 390.2% in the third quarter. SG Americas Securities LLC now owns 16,920 shares of the company’s stock valued at $921,000 after buying an additional 13,468 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

About Red Rock Resorts

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.