Stifel Nicolaus Lowers Red Rock Resorts (NASDAQ:RRR) Price Target to $44.00

Red Rock Resorts (NASDAQ:RRR) had its target price trimmed by Stifel Nicolaus from $54.00 to $44.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

RRR has been the topic of a number of other reports. Susquehanna decreased their price objective on Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a research note on Wednesday, April 16th. Morgan Stanley decreased their price target on Red Rock Resorts from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Mizuho raised their price objective on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Truist Financial decreased their target price on shares of Red Rock Resorts from $56.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $52.83.

Red Rock Resorts Trading Up 3.6 %

Shares of RRR opened at $43.81 on Friday. Red Rock Resorts has a fifty-two week low of $35.09 and a fifty-two week high of $61.73. The business has a 50-day moving average of $43.33 and a 200 day moving average of $47.24. The firm has a market cap of $4.65 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 4.32 and a beta of 1.64. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.33. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. The company had revenue of $497.86 million for the quarter, compared to analysts’ expectations of $499.12 million. During the same period in the prior year, the company posted $0.68 EPS. Red Rock Resorts’s revenue was up 1.8% compared to the same quarter last year. As a group, research analysts forecast that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. Red Rock Resorts’s dividend payout ratio (DPR) is 38.76%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Long Pond Capital LP boosted its holdings in Red Rock Resorts by 142.5% during the 4th quarter. Long Pond Capital LP now owns 1,474,153 shares of the company’s stock valued at $68,165,000 after acquiring an additional 866,320 shares during the period. Bamco Inc. NY grew its holdings in shares of Red Rock Resorts by 6.9% in the fourth quarter. Bamco Inc. NY now owns 11,356,201 shares of the company’s stock worth $525,111,000 after purchasing an additional 732,917 shares during the last quarter. Eminence Capital LP grew its holdings in shares of Red Rock Resorts by 36.1% in the fourth quarter. Eminence Capital LP now owns 2,056,588 shares of the company’s stock worth $95,097,000 after purchasing an additional 546,047 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Red Rock Resorts by 167.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company’s stock worth $19,534,000 after buying an additional 264,609 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Red Rock Resorts by 19.2% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company’s stock valued at $69,494,000 after buying an additional 258,310 shares during the last quarter. 47.84% of the stock is owned by institutional investors.

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.