Stifel Nicolaus Issues Positive Forecast for Red Rock Resorts (NASDAQ:RRR) Stock Price

Red Rock Resorts (NASDAQ:RRR) had its price objective lifted by Stifel Nicolaus from $50.00 to $54.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other equities research analysts also recently weighed in on RRR. Macquarie cut their price target on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Susquehanna upped their target price on shares of Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a research note on Wednesday. Truist Financial reduced their target price on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Wells Fargo & Company lowered their price target on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Red Rock Resorts presently has an average rating of “Hold” and an average price target of $57.33.

Red Rock Resorts Price Performance

Shares of RRR opened at $51.57 on Wednesday. The company has a market cap of $5.45 billion, a P/E ratio of 19.10, a PEG ratio of 5.28 and a beta of 2.02. Red Rock Resorts has a fifty-two week low of $42.46 and a fifty-two week high of $63.28. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The firm’s 50 day moving average price is $47.34 and its 200 day moving average price is $51.35.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a net margin of 8.59% and a return on equity of 73.20%. On average, research analysts forecast that Red Rock Resorts will post 1.44 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th 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 1.94%. The ex-dividend date of this dividend is Monday, March 17th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 37.04%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RRR. Ritholtz Wealth Management acquired a new stake in shares of Red Rock Resorts during the third quarter worth about $215,000. Creative Planning raised its stake in Red Rock Resorts by 19.7% during the 3rd quarter. Creative Planning now owns 19,029 shares of the company’s stock valued at $1,036,000 after acquiring an additional 3,127 shares during the last quarter. nVerses Capital LLC lifted its position in Red Rock Resorts by 28.6% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $196,000 after acquiring an additional 800 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Red Rock Resorts by 4,050.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company’s stock valued at $18,170,000 after purchasing an additional 325,727 shares during the last quarter. Finally, Mayfair Advisory Group LLC purchased a new position in shares of Red Rock Resorts in the 3rd quarter valued at approximately $218,000. 47.84% 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 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.