Jefferies Financial Group Cuts Red Rock Resorts (NASDAQ:RRR) Price Target to $74.00

Red Rock Resorts (NASDAQ:RRR) had its target price cut by Jefferies Financial Group from $79.00 to $74.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also issued reports on the stock. UBS Group set a $73.00 price target on shares of Red Rock Resorts in a report on Wednesday, December 24th. Stifel Nicolaus boosted their price target on shares of Red Rock Resorts from $71.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Morgan Stanley set a $62.00 price target on shares of Red Rock Resorts in a report on Thursday, February 12th. Mizuho set a $77.00 price target on shares of Red Rock Resorts in a report on Wednesday, February 11th. Finally, Wells Fargo & Company increased their target price on shares of Red Rock Resorts from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.57.

Red Rock Resorts Trading Up 2.5%

Shares of Red Rock Resorts stock opened at $57.07 on Monday. The firm has a market capitalization of $5.99 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 2.29 and a beta of 1.48. The company has a debt-to-equity ratio of 10.26, a current ratio of 0.79 and a quick ratio of 0.74. The company’s fifty day moving average price is $59.97 and its two-hundred day moving average price is $59.67. Red Rock Resorts has a 52-week low of $36.85 and a 52-week high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.34. The firm had revenue of $511.78 million for the quarter, compared to analyst estimates of $500.90 million. Red Rock Resorts had a net margin of 9.35% and a return on equity of 58.13%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. On average, analysts expect that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, March 16th. Red Rock Resorts’s dividend payout ratio is currently 33.23%.

Institutional Trading of Red Rock Resorts

Large investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new stake in Red Rock Resorts during the fourth quarter worth about $25,000. Kestra Advisory Services LLC bought a new stake in Red Rock Resorts during the fourth quarter worth about $27,000. Rockefeller Capital Management L.P. grew its holdings in Red Rock Resorts by 1,924.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock worth $31,000 after acquiring an additional 481 shares during the last quarter. Strs Ohio bought a new stake in Red Rock Resorts during the 3rd quarter worth about $37,000. Finally, GAMMA Investing LLC grew its holdings in Red Rock Resorts by 53.8% during the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after acquiring an additional 263 shares during the last quarter. 47.84% of the stock is owned by institutional investors.

About Red Rock Resorts

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.