Red Rock Resorts (NASDAQ:RRR – Get Rating) had its price objective cut by Deutsche Bank Aktiengesellschaft from $54.00 to $45.00 in a report released on Wednesday morning, The Fly reports. They currently have a buy rating on the stock.
RRR has been the subject of several other research reports. StockNews.com downgraded shares of Red Rock Resorts from a buy rating to a hold rating in a research report on Thursday, May 5th. Berenberg Bank initiated coverage on shares of Red Rock Resorts in a research report on Thursday, May 12th. They issued a buy rating and a $50.00 price target for the company. Finally, Loop Capital initiated coverage on shares of Red Rock Resorts in a research report on Monday, July 11th. They set a hold rating and a $36.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $50.50.
Get Red Rock Resorts alerts:Red Rock Resorts Stock Up 3.9 %
Shares of NASDAQ:RRR opened at $34.13 on Wednesday. The firm has a 50 day simple moving average of $35.78 and a 200-day simple moving average of $43.25. Red Rock Resorts has a twelve month low of $30.98 and a twelve month high of $58.74. The company has a market capitalization of $3.67 billion, a PE ratio of 8.28 and a beta of 2.29. The company has a current ratio of 1.98, a quick ratio of 1.93 and a debt-to-equity ratio of 29.17.
Red Rock Resorts (NASDAQ:RRR – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.53 by $0.24. Red Rock Resorts had a net margin of 21.30% and a return on equity of 81.97%. The firm had revenue of $401.64 million during the quarter, compared to the consensus estimate of $408.32 million. During the same quarter in the prior year, the firm earned $0.98 EPS. Red Rock Resorts's revenue for the quarter was up 13.9% on a year-over-year basis. On average, equities analysts predict that Red Rock Resorts will post 2.04 EPS for the current fiscal year.Red Rock Resorts Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, June 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.93%. Red Rock Resorts's dividend payout ratio (DPR) is presently 24.27%.
Institutional Investors Weigh In On Red Rock Resorts
A number of large investors have recently added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. grew its stake in Red Rock Resorts by 2.2% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,137,767 shares of the company's stock valued at $249,490,000 after acquiring an additional 110,038 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Red Rock Resorts by 2.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,275,548 shares of the company's stock valued at $159,061,000 after acquiring an additional 81,242 shares during the last quarter. Invesco Ltd. grew its stake in Red Rock Resorts by 5.2% in the 4th quarter. Invesco Ltd. now owns 2,270,310 shares of the company's stock valued at $124,890,000 after acquiring an additional 112,958 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Red Rock Resorts by 9.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,047,839 shares of the company's stock valued at $50,883,000 after acquiring an additional 87,893 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Red Rock Resorts by 2.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 880,300 shares of the company's stock valued at $42,747,000 after purchasing an additional 18,672 shares in the last quarter. 99.30% of the stock is owned by institutional investors and hedge funds.
Red Rock Resorts Company Profile
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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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