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

Red Rock Resorts (NASDAQ:RRR) had its price target lowered by Jefferies Financial Group from $79.00 to $74.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently commented on RRR. Truist Financial reissued a “buy” rating and set a $80.00 target price (up from $75.00) on shares of Red Rock Resorts in a research report on Wednesday, February 11th. Morgan Stanley set a $62.00 target price on shares of Red Rock Resorts in a research report on Thursday, February 12th. Citigroup reissued a “market outperform” rating on shares of Red Rock Resorts in a research report on Tuesday, March 10th. Wells Fargo & Company increased their target price on shares of Red Rock Resorts from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 11th. Finally, Stifel Nicolaus increased their target price 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. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Red Rock Resorts has an average rating of “Moderate Buy” and a consensus target price of $70.50.

Red Rock Resorts Trading Up 1.3%

NASDAQ:RRR opened at $55.74 on Monday. Red Rock Resorts has a 52 week low of $35.09 and a 52 week high of $68.99. The firm has a 50 day moving average of $60.15 and a 200 day moving average of $59.73. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 10.26. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.29 and a beta of 1.48.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Tuesday, February 10th. The company reported $0.75 EPS 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 company had revenue of $511.78 million during the quarter, compared to analysts’ expectations of $500.90 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. Red Rock Resorts’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. Red Rock Resorts’s dividend payout ratio (DPR) is currently 33.23%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC purchased a new position in shares of Red Rock Resorts in the fourth quarter worth $25,000. Kestra Advisory Services LLC purchased a new position in shares of Red Rock Resorts in the fourth quarter worth $27,000. Rockefeller Capital Management L.P. raised its holdings in shares of Red Rock Resorts by 1,924.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock worth $31,000 after buying an additional 481 shares during the last quarter. Strs Ohio purchased a new position in shares of Red Rock Resorts in the third quarter worth $37,000. Finally, GAMMA Investing LLC raised its holdings in shares of Red Rock Resorts by 53.8% in the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after buying an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

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.