Red Rock Resorts (NASDAQ:RRR) Given Outperform Rating at Mizuho

Mizuho reiterated their outperform rating on shares of Red Rock Resorts (NASDAQ:RRR) in a research note released on Tuesday,Benzinga reports. They currently have a $57.00 price objective on the stock, down from their previous price objective of $67.00.

Several other brokerages also recently commented on RRR. Stifel Nicolaus increased their target price on shares of Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Truist Financial cut their price target on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Susquehanna raised their price objective on shares of Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Morgan Stanley increased their target price on shares of Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 price target on shares of Red Rock Resorts in a report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Red Rock Resorts has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

Red Rock Resorts Stock Down 0.2 %

Shares of NASDAQ RRR opened at $52.41 on Tuesday. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.89. The company has a 50-day moving average price of $53.50 and a 200-day moving average price of $53.82. The stock has a market capitalization of $5.54 billion, a P/E ratio of 19.41, a P/E/G ratio of 6.50 and a beta of 2.04. Red Rock Resorts has a 1 year low of $40.22 and a 1 year high of $63.28.

Red Rock Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s payout ratio is 37.04%.

Hedge Funds Weigh In On Red Rock Resorts

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in Red Rock Resorts by 35.5% in the 1st quarter. BNP Paribas Financial Markets now owns 32,080 shares of the company’s stock worth $1,919,000 after acquiring an additional 8,402 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Red Rock Resorts in the first quarter valued at approximately $236,000. Headlands Technologies LLC bought a new stake in Red Rock Resorts during the first quarter valued at approximately $78,000. ProShare Advisors LLC grew its stake in Red Rock Resorts by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,559 shares of the company’s stock worth $512,000 after buying an additional 674 shares in the last quarter. Finally, HBK Sorce Advisory LLC bought a new stake in shares of Red Rock Resorts during the 1st quarter worth $434,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

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.