Red Rock Resorts (NASDAQ:RRR) PT Raised to $65.00 at Macquarie

Red Rock Resorts (NASDAQ:RRR) had its price objective raised by Macquarie from $62.00 to $65.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts also recently issued reports about the stock. Bank of America raised shares of Red Rock Resorts from an underperform rating to a neutral rating and reduced their target price for the stock from $57.00 to $55.00 in a research report on Monday, May 13th. JMP Securities reduced their target price on shares of Red Rock Resorts from $66.00 to $65.00 and set a market outperform rating on the stock in a research report on Wednesday, May 8th. Stifel Nicolaus reduced their target price on shares of Red Rock Resorts from $61.00 to $59.00 and set a hold rating on the stock in a research report on Wednesday, May 8th. Barclays reduced their target price on shares of Red Rock Resorts from $64.00 to $63.00 and set an overweight rating on the stock in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Red Rock Resorts from $63.00 to $69.00 and gave the stock an overweight rating in a research report on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Red Rock Resorts has an average rating of Moderate Buy and an average price target of $63.33.

Red Rock Resorts Stock Up 2.2 %

Shares of NASDAQ RRR opened at $57.76 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 18.49. Red Rock Resorts has a 12 month low of $37.82 and a 12 month high of $63.28. The firm has a market capitalization of $6.10 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 4.23 and a beta of 2.04. The firm has a fifty day simple moving average of $53.72 and a two-hundred day simple moving average of $55.32.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.43 by $0.16. Red Rock Resorts had a net margin of 9.21% and a return on equity of 87.05%. The business had revenue of $486.40 million during the quarter, compared to analyst estimates of $475.80 million. During the same period in the prior year, the business earned $0.65 EPS. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. Equities analysts expect that Red Rock Resorts will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Monday, September 16th. Red Rock Resorts’s dividend payout ratio (DPR) is 34.72%.

Insider Activity

In other news, CEO Frank J. Fertitta III sold 800,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $50.39, for a total transaction of $40,312,000.00. Following the sale, the chief executive officer now owns 45,847,301 shares of the company’s stock, valued at approximately $2,310,245,497.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 53.28% of the company’s stock.

Institutional Trading of Red Rock Resorts

Institutional investors have recently made changes to their positions in the stock. Covestor Ltd boosted its holdings in shares of Red Rock Resorts by 16,666.7% during the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Red Rock Resorts in the 1st quarter worth approximately $78,000. SG Americas Securities LLC bought a new position in shares of Red Rock Resorts in the 1st quarter worth approximately $236,000. Virtu Financial LLC bought a new position in shares of Red Rock Resorts in the 4th quarter worth approximately $212,000. Finally, Core Wealth Partners LLC bought a new position in shares of Red Rock Resorts in the 4th quarter worth approximately $213,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Company Profile

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.