Red Rock Resorts (NASDAQ:RRR) Price Target Raised to $69.00 at JPMorgan Chase & Co.

Red Rock Resorts (NASDAQ:RRRFree Report) had its price objective lifted by JPMorgan Chase & Co. from $63.00 to $69.00 in a report issued on Monday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

RRR has been the topic of several other reports. Mizuho initiated coverage on Red Rock Resorts in a research report on Tuesday, March 26th. They issued a buy rating and a $69.00 target price on the stock. Macquarie upgraded Red Rock Resorts from a neutral rating to an outperform rating and lifted their price target for the company from $51.00 to $58.00 in a research report on Wednesday, January 17th. Barclays lifted their price target on Red Rock Resorts from $60.00 to $62.00 and gave the company an overweight rating in a research report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft lifted their price target on Red Rock Resorts from $54.00 to $62.00 and gave the company a buy rating in a research report on Wednesday, January 24th. Finally, Morgan Stanley lifted their price target on Red Rock Resorts from $48.00 to $51.00 and gave the company an equal weight rating in a research report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Red Rock Resorts has a consensus rating of Moderate Buy and an average price target of $60.82.

View Our Latest Analysis on RRR

Red Rock Resorts Stock Up 2.5 %

RRR opened at $61.30 on Monday. Red Rock Resorts has a 12 month low of $37.82 and a 12 month high of $61.98. The company has a debt-to-equity ratio of 13.54, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market cap of $6.45 billion, a P/E ratio of 20.78, a P/E/G ratio of 4.09 and a beta of 2.06. The stock’s 50 day moving average price is $56.86 and its 200 day moving average price is $49.45.

Red Rock Resorts (NASDAQ:RRRGet Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.40 by $0.55. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The firm had revenue of $462.71 million for the quarter, compared to analysts’ expectations of $440.75 million. During the same period last year, the firm earned $1.00 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. As a group, research analysts predict that Red Rock Resorts will post 1.9 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.63%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 33.90%.

Insider Transactions at Red Rock Resorts

In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total value of $434,204.80. Following the completion of the sale, the chief financial officer now owns 243,808 shares of the company’s stock, valued at $14,077,473.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 54.20% of the stock is currently owned by insiders.

Institutional Trading of Red Rock Resorts

Several hedge funds and other institutional investors have recently modified their holdings of RRR. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in Red Rock Resorts during the first quarter valued at $30,000. Lazard Asset Management LLC acquired a new stake in Red Rock Resorts during the fourth quarter valued at $34,000. KBC Group NV bought a new position in Red Rock Resorts during the fourth quarter valued at about $56,000. Tower Research Capital LLC TRC raised its holdings in Red Rock Resorts by 601.1% during the first quarter. Tower Research Capital LLC TRC now owns 1,283 shares of the company’s stock valued at $57,000 after buying an additional 1,100 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Red Rock Resorts during the second quarter valued at about $92,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

About Red Rock Resorts

(Get Free Report)

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.

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