JMP Securities Increases Red Rock Resorts (NASDAQ:RRR) Price Target to $51.00


Red Rock Resorts (NASDAQ:RRRGet Rating) had its price objective lifted by JMP Securities from $50.00 to $51.00 in a research note issued to investors on Friday morning, The Fly reports. They currently have a market outperform rating on the stock.

Other analysts have also issued reports about the company. Morgan Stanley assumed coverage on Red Rock Resorts in a research report on Monday, November 21st. They set an overweight rating and a $52.00 target price on the stock. CBRE Group reaffirmed a hold rating and set a $44.00 target price on shares of Red Rock Resorts in a research report on Thursday, October 20th. StockNews.com downgraded Red Rock Resorts from a buy rating to a hold rating in a research note on Saturday, November 5th. Truist Financial downgraded Red Rock Resorts from a buy rating to a hold rating and decreased their price target for the stock from $46.00 to $45.00 in a research note on Wednesday, January 11th. Finally, ING Group initiated coverage on Red Rock Resorts in a research note on Thursday, October 20th. They issued a hold rating and a $44.00 price target for the company. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $47.50.

Red Rock Resorts Stock Up 3.5 %

Shares of NASDAQ RRR opened at $44.28 on Friday. Red Rock Resorts has a 1 year low of $30.98 and a 1 year high of $54.29. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 6.80 and a beta of 2.16. The company has a debt-to-equity ratio of 352.28, a quick ratio of 0.69 and a current ratio of 0.74. The stock’s 50-day simple moving average is $42.80 and its 200-day simple moving average is $40.00.

Red Rock Resorts (NASDAQ:RRRGet Rating) last announced its earnings results on Thursday, October 27th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.35. Red Rock Resorts had a return on equity of 753.52% and a net margin of 15.80%. The business had revenue of $414.44 million for the quarter, compared to analyst estimates of $407.55 million. As a group, equities analysts anticipate that Red Rock Resorts will post 1.69 earnings per share for the current fiscal year.

Red Rock Resorts Cuts Dividend

The business also recently announced a None dividend, which was paid on Friday, December 9th. Shareholders of record on Wednesday, November 30th were paid a $1.00 dividend. The ex-dividend date was Tuesday, November 29th. This represents a yield of 9.41%. Red Rock Resorts’s payout ratio is currently 31.65%.

Hedge Funds Weigh In On Red Rock Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in Red Rock Resorts by 32.9% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 13,413 shares of the company’s stock valued at $459,000 after acquiring an additional 3,324 shares during the period. Comerica Bank acquired a new position in Red Rock Resorts in the second quarter valued at approximately $6,368,000. AdvisorShares Investments LLC boosted its stake in Red Rock Resorts by 56.3% in the second quarter. AdvisorShares Investments LLC now owns 22,375 shares of the company’s stock valued at $747,000 after acquiring an additional 8,059 shares during the period. Long Pond Capital LP acquired a new position in Red Rock Resorts in the second quarter valued at approximately $27,421,000. Finally, SG Americas Securities LLC boosted its stake in Red Rock Resorts by 222.7% in the second quarter. SG Americas Securities LLC now owns 15,024 shares of the company’s stock valued at $501,000 after acquiring an additional 10,368 shares during the period. 52.45% of the stock is currently owned by institutional investors and hedge funds.

About Red Rock Resorts

(Get Rating)

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 9 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

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