Red Rock Resorts (NASDAQ:RRR – Free Report) had its price target raised by Susquehanna from $52.00 to $66.00 in a research note released on Thursday, Benzinga reports. They currently have a positive rating on the stock.
RRR has been the subject of several other reports. Truist Financial boosted their price target on Red Rock Resorts from $46.00 to $55.00 and gave the company a hold rating in a report on Wednesday, December 20th. Macquarie upgraded Red Rock Resorts from a neutral rating to an outperform rating and upped their price objective for the stock from $51.00 to $58.00 in a report on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft upped their price objective on Red Rock Resorts from $54.00 to $62.00 and gave the stock a buy rating in a report on Wednesday, January 24th. Barclays assumed coverage on Red Rock Resorts in a report on Thursday, January 18th. They set an overweight rating and a $60.00 price objective for the company. Finally, Wells Fargo & Company upped their price objective on Red Rock Resorts from $57.00 to $62.00 and gave the stock an overweight rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Red Rock Resorts currently has a consensus rating of Moderate Buy and a consensus price target 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 the consensus estimate of $440.75 million. Red Rock Resorts had a return on equity of 141.95% and a net margin of 10.21%. Red Rock Resorts’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 EPS. As a group, analysts forecast that Red Rock Resorts will post 1.86 EPS for the current year.
Red Rock Resorts Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.70%. Red Rock Resorts’s payout ratio is currently 33.90%.
Hedge Funds Weigh In On Red Rock Resorts
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its position in Red Rock Resorts by 3.8% in the 2nd quarter. ProShare Advisors LLC now owns 6,196 shares of the company’s stock valued at $290,000 after buying an additional 225 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in Red Rock Resorts by 1.1% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 27,588 shares of the company’s stock valued at $1,131,000 after buying an additional 300 shares during the last quarter. Creative Planning boosted its position in Red Rock Resorts by 5.3% in the 2nd quarter. Creative Planning now owns 6,048 shares of the company’s stock valued at $202,000 after buying an additional 305 shares during the last quarter. Institute for Wealth Management LLC. boosted its position in Red Rock Resorts by 4.2% in the 4th quarter. Institute for Wealth Management LLC. now owns 7,557 shares of the company’s stock valued at $403,000 after buying an additional 308 shares during the last quarter. Finally, State of Wyoming boosted its position in Red Rock Resorts by 9.7% in the 2nd quarter. State of Wyoming now owns 3,818 shares of the company’s stock valued at $179,000 after buying an additional 339 shares during the last quarter. 51.21% of the stock is owned by hedge funds and other institutional investors.
Red Rock Resorts Company Profile
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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