Red Rock Resorts (NASDAQ:RRR) Given New $73.00 Price Target at JPMorgan Chase & Co.

Red Rock Resorts (NASDAQ:RRR) had its price target trimmed by JPMorgan Chase & Co. from $76.00 to $73.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Red Rock Resorts from $71.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Truist Financial reiterated a “buy” rating and set a $80.00 price objective (up from $75.00) on shares of Red Rock Resorts in a research report on Wednesday, February 11th. UBS Group set a $73.00 price objective on shares of Red Rock Resorts in a research report on Wednesday, December 24th. Mizuho set a $77.00 price objective on shares of Red Rock Resorts in a research report on Wednesday, February 11th. Finally, Barclays boosted their price objective on shares of Red Rock Resorts from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $71.36.

Red Rock Resorts Trading Down 0.1%

RRR stock opened at $56.55 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 10.26. Red Rock Resorts has a twelve month low of $39.45 and a twelve month high of $68.99. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 2.35 and a beta of 1.48. The firm’s fifty day simple moving average is $59.19 and its two-hundred day simple moving average is $59.50.

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

Red Rock Resorts Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. grew its holdings in Red Rock Resorts by 6.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 650,943 shares of the company’s stock worth $34,734,000 after acquiring an additional 40,295 shares in the last quarter. Baron Wealth Management LLC grew its holdings in Red Rock Resorts by 3.0% during the 1st quarter. Baron Wealth Management LLC now owns 15,718 shares of the company’s stock worth $839,000 after acquiring an additional 452 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Red Rock Resorts by 34.8% during the 4th quarter. Hsbc Holdings PLC now owns 32,355 shares of the company’s stock worth $2,007,000 after acquiring an additional 8,357 shares in the last quarter. 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 in the last quarter. Finally, Pacer Advisors Inc. bought a new position in Red Rock Resorts during the 4th quarter worth about $201,000. 47.84% of the stock is currently owned by institutional investors.

Red Rock Resorts Company Profile

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.