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

Red Rock Resorts (NASDAQ:RRR) had its target price reduced by Susquehanna from $66.00 to $60.00 in a report published on Tuesday,Benzinga reports. They currently have a positive rating on the stock.

A number of other analysts have also issued reports on the stock. Barclays dropped their price target on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Mizuho lowered shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and cut their target price for the company from $57.00 to $44.00 in a research note on Monday, November 25th. JMP Securities decreased their price target on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research note on Thursday, January 16th. 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 note on Friday, January 3rd. Finally, Wells Fargo & Company decreased their target price on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Red Rock Resorts currently has a consensus rating of “Hold” and a consensus target price of $57.25.

Red Rock Resorts Stock Performance

NASDAQ:RRR opened at $48.54 on Tuesday. Red Rock Resorts has a 1-year low of $42.46 and a 1-year high of $63.28. The stock has a market cap of $5.13 billion, a P/E ratio of 17.98, a PEG ratio of 5.30 and a beta of 2.02. 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 50-day moving average of $47.36 and a two-hundred day moving average of $51.64.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.11. Red Rock Resorts had a return on equity of 73.20% and a net margin of 8.59%. The firm had revenue of $468.02 million during the quarter, compared to analyst estimates of $460.73 million. During the same quarter last year, the firm earned $0.60 EPS. On average, research analysts expect that Red Rock Resorts will post 1.44 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.06%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 37.04%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP raised its holdings in shares of Red Rock Resorts by 479.4% during the third quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after buying an additional 930 shares during the last quarter. US Bancorp DE raised its stake in Red Rock Resorts by 2,223.9% during the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after acquiring an additional 1,490 shares in the last quarter. KBC Group NV boosted its position in Red Rock Resorts by 37.1% during the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after acquiring an additional 540 shares during the period. nVerses Capital LLC grew its stake in shares of Red Rock Resorts by 28.6% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $196,000 after purchasing an additional 800 shares in the last quarter. Finally, Mayfair Advisory Group LLC increased its holdings in shares of Red Rock Resorts by 15.1% during the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock valued at $208,000 after purchasing an additional 591 shares during the period. 47.84% of the stock is 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.