Red Rock Resorts (NASDAQ:RRR) PT Raised to $66.00 at JMP Securities

Red Rock Resorts (NASDAQ:RRR) had its price target raised by JMP Securities from $61.00 to $66.00 in a research note released on Friday morning, Benzinga reports. They currently have a market outperform rating on the stock.

Several other research firms also recently commented on RRR. Barclays upped their target price on Red Rock Resorts from $60.00 to $62.00 and gave the company an overweight rating in a research report on Thursday, February 8th. Mizuho assumed coverage on shares of Red Rock Resorts in a research report on Tuesday, March 26th. They set a buy rating and a $69.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Red Rock Resorts from $57.00 to $62.00 and gave the company an overweight rating in a report on Thursday, February 8th. Stifel Nicolaus lifted their price target on shares of Red Rock Resorts from $47.00 to $54.00 and gave the company a hold rating in a research report on Thursday, December 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Red Rock Resorts from $54.00 to $62.00 and gave the stock a buy rating in a research note on Wednesday, January 24th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $61.25.

Red Rock Resorts Stock Up 1.7 %

Shares of Red Rock Resorts stock opened at $58.36 on Friday. Red Rock Resorts has a 52-week low of $37.82 and a 52-week high of $63.28. The company has a debt-to-equity ratio of 13.54, a quick ratio of 0.76 and a current ratio of 0.81. The business’s 50 day simple moving average is $58.28 and its 200 day simple moving average is $51.42. The firm has a market cap of $6.14 billion, a PE ratio of 19.78, a P/E/G ratio of 2.95 and a beta of 2.06.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.55. The company had revenue of $462.71 million for the quarter, compared to the consensus estimate of $440.75 million. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share. On average, analysts predict that Red Rock Resorts will post 1.93 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.71%. Red Rock Resorts’s payout ratio is currently 33.90%.

Insider Buying and Selling

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total value of $434,204.80. Following the transaction, the chief financial officer now owns 243,808 shares in the company, valued at $14,077,473.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 54.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Red Rock Resorts

Large investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in Red Rock Resorts during the fourth quarter valued at approximately $212,000. Core Wealth Partners LLC purchased a new position in shares of Red Rock Resorts during the 4th quarter valued at $213,000. Malaga Cove Capital LLC bought a new position in shares of Red Rock Resorts in the third quarter worth $242,000. Valeo Financial Advisors LLC purchased a new stake in shares of Red Rock Resorts in the fourth quarter worth $255,000. Finally, VELA Investment Management LLC bought a new stake in Red Rock Resorts during the fourth quarter valued at $256,000. 47.84% of the stock is owned by 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.