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

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

Several other brokerages have also recently commented on RRR. Morgan Stanley raised their target price on shares of Red Rock Resorts from $51.00 to $53.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. Bank of America raised their target price on shares of Red Rock Resorts from $52.00 to $57.00 and gave the stock a buy rating in a report on Monday, April 8th. Susquehanna increased their price target on shares of Red Rock Resorts from $52.00 to $66.00 and gave the stock a positive rating in a research report on Thursday, February 8th. Wells Fargo & Company increased their price target on shares of Red Rock Resorts from $57.00 to $62.00 and gave the stock an overweight rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. increased their price target 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. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $61.25.

Red Rock Resorts Stock Performance

NASDAQ:RRR opened at $57.39 on Friday. Red Rock Resorts has a twelve month low of $37.82 and a twelve month high of $63.28. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 13.54. The company has a 50-day moving average of $58.30 and a 200-day moving average of $51.13. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 2.98 and a beta of 2.06.

Red Rock Resorts (NASDAQ:RRR) last announced its 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 net margin of 10.21% and a return on equity of 114.32%. The company had revenue of $462.71 million during the quarter, compared to analysts’ expectations of $440.75 million. During the same period last year, the company posted $1.00 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts forecast that Red Rock Resorts will post 1.93 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.74%. Red Rock Resorts’s dividend payout ratio is currently 33.90%.

Insiders Place Their Bets

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of Red Rock Resorts stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total transaction of $434,204.80. Following the completion of the transaction, the chief financial officer now directly owns 243,808 shares of the company’s stock, valued at $14,077,473.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 54.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Eminence Capital LP raised its holdings in shares of Red Rock Resorts by 6.0% in the third quarter. Eminence Capital LP now owns 1,959,685 shares of the company’s stock valued at $80,347,000 after buying an additional 111,651 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Red Rock Resorts in the fourth quarter valued at about $40,331,000. Swiss National Bank raised its holdings in shares of Red Rock Resorts by 1.0% in the third quarter. Swiss National Bank now owns 108,700 shares of the company’s stock valued at $4,457,000 after buying an additional 1,100 shares during the last quarter. Bamco Inc. NY raised its holdings in shares of Red Rock Resorts by 10.8% in the third quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock valued at $404,135,000 after buying an additional 962,841 shares during the last quarter. Finally, EJF Capital LLC raised its holdings in shares of Red Rock Resorts by 33.0% in the third quarter. EJF Capital LLC now owns 18,953 shares of the company’s stock valued at $777,000 after buying an additional 4,698 shares during the last quarter. 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.