Red Rock Resorts (NASDAQ:RRR – Free Report) had its price objective raised by Barclays from $60.00 to $62.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.
Other equities research analysts have also recently issued research reports about the company. JMP Securities increased their price target on Red Rock Resorts from $55.00 to $61.00 and gave the company a market outperform rating in a research note on Thursday. Stifel Nicolaus upped their target price on Red Rock Resorts from $47.00 to $54.00 and gave the company a hold rating in a research report on Thursday, December 21st. Morgan Stanley restated an equal weight rating and set a $48.00 target price (down previously from $49.00) on shares of Red Rock Resorts in a research report on Tuesday, January 9th. JPMorgan Chase & Co. cut their target price on Red Rock Resorts from $54.00 to $50.00 and set an overweight rating on the stock in a research report on Wednesday, November 8th. Finally, Macquarie raised Red Rock Resorts from a neutral rating to an outperform rating and increased their price objective for the stock from $51.00 to $58.00 in a research note on Wednesday, January 17th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Red Rock Resorts presently has a consensus rating of Moderate Buy and an average target price of $59.10.
Red Rock Resorts Trading Up 1.6 %
Red Rock Resorts (NASDAQ:RRR – Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.55. The company had revenue of $462.71 million during the quarter, compared to analysts’ expectations of $440.75 million. Red Rock Resorts had a return on equity of 141.95% and a net margin of 10.21%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 earnings per share. On average, equities research analysts forecast that Red Rock Resorts will post 1.86 earnings per share for the current year.
Red Rock Resorts Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, March 14th. Red Rock Resorts’s payout ratio is 33.90%.
Institutional Trading of Red Rock Resorts
A number of large investors have recently bought and sold shares of the company. Bamco Inc. NY increased its position in Red Rock Resorts by 10.8% in the third quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock worth $404,135,000 after buying an additional 962,841 shares during the last quarter. FMR LLC increased its position in Red Rock Resorts by 46.4% in the third quarter. FMR LLC now owns 5,249,335 shares of the company’s stock worth $215,223,000 after buying an additional 1,663,839 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in Red Rock Resorts by 1.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,827,336 shares of the company’s stock worth $197,921,000 after buying an additional 91,798 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Red Rock Resorts in the second quarter worth $173,703,000. Finally, Eminence Capital LP increased its position in Red Rock Resorts by 6.0% in the third quarter. Eminence Capital LP now owns 1,959,685 shares of the company’s stock worth $80,347,000 after buying an additional 111,651 shares during the last quarter. 51.21% of the stock is owned by hedge funds and other institutional investors.
About Red Rock Resorts
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, develops and operates casino and entertainment properties in the United States. It operates through two segments, Las Vegas Operations and Native American Management. The company owns and operates 6 gaming and entertainment facilities, and 9 smaller casinos in the Las Vegas regional market.
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