Red Rock Resorts (NASDAQ:RRR – Free Report) had its price target increased by JPMorgan Chase & Co. from $53.00 to $63.00 in a report released on Thursday, Benzinga reports. They currently have an overweight rating on the stock.
RRR has been the topic of several other research reports. Truist Financial boosted their price target on Red Rock Resorts from $46.00 to $55.00 and gave the stock a hold rating in a research note on Wednesday, December 20th. JMP Securities boosted their price target on Red Rock Resorts from $55.00 to $61.00 and gave the stock a market outperform rating in a research note on Thursday. Stifel Nicolaus boosted their price target on Red Rock Resorts from $47.00 to $54.00 and gave the stock a hold rating in a research note on Thursday, December 21st. Barclays boosted their price objective on Red Rock Resorts from $60.00 to $62.00 and gave the company an overweight rating in a report on Thursday. Finally, Macquarie raised Red Rock Resorts from a neutral rating to an outperform rating and boosted their price objective for the company from $51.00 to $58.00 in a report on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Red Rock Resorts presently has a consensus rating of Moderate Buy and a consensus target price of $59.10.
Red Rock Resorts Trading Up 1.6 %
Red Rock Resorts (NASDAQ:RRR – Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.40 by $0.55. Red Rock Resorts had a return on equity of 141.95% and a net margin of 10.21%. The business had revenue of $462.71 million for the quarter, compared to analysts’ expectations of $440.75 million. During the same quarter in the previous year, the firm posted $1.00 earnings per share. The company’s revenue was up 8.8% compared to the same quarter last year. Equities analysts forecast that Red Rock Resorts will post 1.86 earnings per share for the current fiscal year.
Red Rock Resorts Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, March 14th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 33.90%.
Hedge Funds Weigh In On Red Rock Resorts
Several institutional investors have recently made changes to their positions in the stock. Bamco Inc. NY grew its holdings in shares of Red Rock Resorts by 10.8% during the third quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock valued at $404,135,000 after purchasing an additional 962,841 shares during the last quarter. FMR LLC grew its holdings in Red Rock Resorts by 46.4% in the 3rd 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 in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Red Rock Resorts by 1.9% in the 3rd 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 in the last quarter. Sequoia Financial Advisors LLC bought a new position in Red Rock Resorts in the 2nd quarter worth approximately $173,703,000. Finally, Eminence Capital LP grew its holdings in Red Rock Resorts by 6.0% in the 3rd 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 in the last quarter. 51.21% of the stock is owned by 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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