Susquehanna Issues Positive Forecast for Red Rock Resorts (NASDAQ:RRR) Stock Price

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

A number of other research analysts have also commented on RRR. Wells Fargo & Company lowered 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 research note on Thursday, October 17th. Mizuho lifted their price target on Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday. Truist Financial dropped their price objective on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Macquarie decreased their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, Barclays lowered their target price on 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $57.33.

Red Rock Resorts Price Performance

Shares of RRR opened at $51.57 on Wednesday. Red Rock Resorts has a one year low of $42.46 and a one year high of $63.28. The stock’s fifty day moving average is $47.34 and its 200-day moving average is $51.35. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 5.28 and a beta of 2.02.

Red Rock Resorts (NASDAQ:RRR) last announced its 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 net margin of 8.59% and a return on equity of 73.20%. Equities analysts anticipate that Red Rock Resorts will post 1.44 EPS for the current year.

Red Rock Resorts Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 1.94%. Red Rock Resorts’s payout ratio is presently 37.04%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RRR. Barclays PLC raised its holdings in shares of Red Rock Resorts by 227.9% during the third quarter. Barclays PLC now owns 78,932 shares of the company’s stock valued at $4,297,000 after acquiring an additional 54,863 shares during the period. GSA Capital Partners LLP purchased a new position in Red Rock Resorts during the 3rd quarter worth approximately $842,000. Westfield Capital Management Co. LP raised its stake in Red Rock Resorts by 3.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock valued at $61,763,000 after purchasing an additional 38,443 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Red Rock Resorts by 18.9% in the third quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company’s stock valued at $4,856,000 after purchasing an additional 14,148 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Red Rock Resorts by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after purchasing an additional 14,029 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.