Barclays Has Lowered Expectations for Red Rock Resorts (NASDAQ:RRR) Stock Price

Red Rock Resorts (NASDAQ:RRR) had its price objective cut by Barclays from $58.00 to $54.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also weighed in on RRR. Jefferies Financial Group restated a “hold” rating and set a $51.00 price objective (down previously from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Truist Financial lowered their price objective on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Susquehanna cut their target price on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a research report on Wednesday, April 16th. JMP Securities reduced their target price on shares of Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating on the stock in a report on Thursday, April 17th. Finally, Mizuho raised their price target on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $54.67.

Red Rock Resorts Stock Performance

Red Rock Resorts stock opened at $41.45 on Tuesday. The stock has a market cap of $4.40 billion, a PE ratio of 16.51, a P/E/G ratio of 4.32 and a beta of 1.69. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 12-month low of $35.09 and a 12-month high of $61.73. The business’s 50-day moving average price is $44.85 and its two-hundred day moving average price is $47.84.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. As a group, analysts expect that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.41%. Red Rock Resorts’s payout ratio is currently 39.84%.

Hedge Funds Weigh In On Red Rock Resorts

A number of institutional investors and hedge funds have recently modified their holdings of RRR. Bamco Inc. NY raised its stake in Red Rock Resorts by 6.9% during the 4th quarter. Bamco Inc. NY now owns 11,356,201 shares of the company’s stock worth $525,111,000 after buying an additional 732,917 shares during the period. Vanguard Group Inc. raised its position in shares of Red Rock Resorts by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,181,146 shares of the company’s stock worth $239,576,000 after purchasing an additional 50,193 shares during the period. Eminence Capital LP lifted its holdings in shares of Red Rock Resorts by 36.1% in the 4th quarter. Eminence Capital LP now owns 2,056,588 shares of the company’s stock worth $95,097,000 after purchasing an additional 546,047 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Red Rock Resorts by 19.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company’s stock valued at $69,494,000 after purchasing an additional 258,310 shares during the period. Finally, Long Pond Capital LP increased its stake in Red Rock Resorts by 142.5% during the 4th quarter. Long Pond Capital LP now owns 1,474,153 shares of the company’s stock valued at $68,165,000 after purchasing an additional 866,320 shares in the last quarter. 47.84% of the stock is currently 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.