Red Rock Resorts (NASDAQ:RRR) Price Target Increased to $66.00 by Analysts at JMP Securities

Red Rock Resorts (NASDAQ:RRR) had its price target upped by JMP Securities from $61.00 to $66.00 in a research report report published on Friday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company lifted their price objective on shares of Red Rock Resorts from $57.00 to $62.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Bank of America lifted their price target on Red Rock Resorts from $52.00 to $57.00 and gave the stock a buy rating in a research report on Monday, April 8th. Mizuho initiated coverage on Red Rock Resorts in a research report on Tuesday, March 26th. They set a buy rating and a $69.00 price objective on the stock. Stifel Nicolaus lifted their target price on Red Rock Resorts from $47.00 to $54.00 and gave the stock a hold rating in a report on Thursday, December 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Red Rock Resorts from $54.00 to $62.00 and gave the company a buy rating in a report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $61.25.

Red Rock Resorts Stock Performance

Shares of NASDAQ RRR opened at $58.36 on Friday. The stock has a market cap of $6.14 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 2.95 and a beta of 2.06. Red Rock Resorts has a 1 year low of $37.82 and a 1 year high of $63.28. The firm has a fifty day moving average price of $58.28 and a 200-day moving average price of $51.42. The company has a debt-to-equity ratio of 13.54, a current ratio of 0.81 and a quick ratio of 0.76.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.55. The business had revenue of $462.71 million during the quarter, compared to analyst estimates of $440.75 million. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. Red Rock Resorts’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 EPS. Equities analysts anticipate that Red Rock Resorts will post 1.93 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.71%. Red Rock Resorts’s payout ratio is 33.90%.

Insiders Place Their Bets

In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were 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 approximately $14,077,473.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 54.20% of the company’s stock.

Institutional Trading of Red Rock Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Red Rock Resorts by 24.9% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 944,340 shares of the company’s stock valued at $56,491,000 after purchasing an additional 188,095 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Red Rock Resorts in the fourth quarter worth approximately $212,000. Eminence Capital LP increased its position in shares of Red Rock Resorts by 21.1% during the fourth quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock worth $126,582,000 after purchasing an additional 413,871 shares in the last quarter. Capital World Investors acquired a new position in Red Rock Resorts in the 4th quarter valued at $24,897,000. Finally, Capstone Investment Advisors LLC lifted its holdings in Red Rock Resorts by 44.9% in the 4th quarter. Capstone Investment Advisors LLC now owns 17,038 shares of the company’s stock valued at $909,000 after purchasing an additional 5,276 shares in the last quarter. Institutional investors and hedge funds 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.