Stifel Nicolaus Cuts Red Rock Resorts (NASDAQ:RRR) Price Target to $44.00

Red Rock Resorts (NASDAQ:RRR - Free Report) had its price objective cut by Stifel Nicolaus from $54.00 to $44.00 in a report issued on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

Other analysts also recently issued research reports about the company. Truist Financial decreased their target price on Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Mizuho boosted their target price on shares of Red Rock Resorts from $44.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. JMP Securities dropped their target price on shares of Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating for the company in a research report on Thursday, April 17th. Jefferies Financial Group reissued a "hold" rating and set a $51.00 price objective (down previously from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Finally, Susquehanna cut their price objective on Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating for the company in a research report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Red Rock Resorts presently has a consensus rating of "Hold" and an average price target of $52.83.

Red Rock Resorts Stock Performance

Shares of NASDAQ:RRR traded down $0.13 during trading on Friday, hitting $43.68. The company's stock had a trading volume of 598,933 shares, compared to its average volume of 574,216. The company has a 50-day moving average of $43.33 and a 200-day moving average of $47.24. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 4.32 and a beta of 1.64. Red Rock Resorts has a 12 month low of $35.09 and a 12 month high of $61.73.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.33. The company had revenue of $497.86 million for the quarter, compared to analysts' expectations of $499.12 million. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. The firm's revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 EPS. On average, sell-side analysts expect that Red Rock Resorts will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The company also recently announced an annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 14th will be issued a dividend of $1.00 per share. This represents a dividend yield of 2.29%. The ex-dividend date is Wednesday, May 14th. Red Rock Resorts's dividend payout ratio (DPR) is 38.76%.

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors have recently modified their holdings of the business. Bamco Inc. NY grew its stake in Red Rock Resorts by 6.9% in the 4th quarter. Bamco Inc. NY now owns 11,356,201 shares of the company's stock valued at $525,111,000 after acquiring 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 4th 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 last quarter. Eminence Capital LP lifted its stake in Red Rock Resorts by 36.1% in the 4th quarter. Eminence Capital LP now owns 2,056,588 shares of the company's stock valued at $95,097,000 after buying an additional 546,047 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings 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 worth $69,494,000 after buying an additional 258,310 shares during the last quarter. Finally, Long Pond Capital LP raised its holdings in shares of Red Rock Resorts by 142.5% during the fourth quarter. Long Pond Capital LP now owns 1,474,153 shares of the company's stock valued at $68,165,000 after acquiring an additional 866,320 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

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.