JMP Securities Cuts Red Rock Resorts (NASDAQ:RRR) Price Target to $55.00

Red Rock Resorts (NASDAQ:RRR) had its target price cut by JMP Securities from $59.00 to $55.00 in a research note released on Thursday morning,Benzinga reports. They currently have a market outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group restated a “hold” rating and set a $51.00 price objective (down previously from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Stifel Nicolaus upped their price objective on Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Truist Financial dropped their target price on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Mizuho raised their price target on shares of Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Finally, Susquehanna decreased their target price on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.33.

Red Rock Resorts Stock Performance

Shares of NASDAQ RRR opened at $40.70 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The company has a market capitalization of $4.32 billion, a P/E ratio of 16.22, a P/E/G ratio of 4.32 and a beta of 1.69. Red Rock Resorts has a 12 month low of $35.09 and a 12 month high of $61.73. The stock has a 50 day moving average of $45.29 and a 200-day moving average of $48.04.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. As a group, equities research analysts predict that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.46%. Red Rock Resorts’s dividend payout ratio is currently 39.84%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bamco Inc. NY grew its holdings in shares of Red Rock Resorts by 6.9% during the 4th quarter. Bamco Inc. NY now owns 11,356,201 shares of the company’s stock valued at $525,111,000 after purchasing an additional 732,917 shares during the last quarter. Vanguard Group Inc. boosted its position in Red Rock Resorts by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 5,181,146 shares of the company’s stock valued at $239,576,000 after buying an additional 50,193 shares in the last quarter. Eminence Capital LP boosted its position in Red Rock Resorts by 36.1% in the fourth quarter. Eminence Capital LP now owns 2,056,588 shares of the company’s stock valued at $95,097,000 after buying an additional 546,047 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Red Rock Resorts by 19.2% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company’s stock worth $69,494,000 after buying an additional 258,310 shares during the last quarter. Finally, Long Pond Capital LP increased its holdings in shares of Red Rock Resorts by 142.5% during the fourth quarter. Long Pond Capital LP now owns 1,474,153 shares of the company’s stock worth $68,165,000 after buying an additional 866,320 shares in the last quarter. Institutional investors 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.