Morgan Stanley Issues Pessimistic Forecast for Red Rock Resorts (NASDAQ:RRR) Stock Price

Red Rock Resorts (NASDAQ:RRR) had its target price cut by Morgan Stanley from $45.00 to $43.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also weighed in on the stock. Mizuho increased their target price on shares of Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Susquehanna reduced their price objective on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating for the company in a research note on Wednesday. Jefferies Financial Group restated a “hold” rating and set a $51.00 target price (down previously from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Truist Financial reduced their price target on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Finally, Stifel Nicolaus increased their price objective on Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $55.50.

Red Rock Resorts Trading Down 1.1 %

NASDAQ:RRR opened at $40.76 on Wednesday. Red Rock Resorts has a 12 month low of $35.09 and a 12 month high of $61.73. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The firm’s 50 day moving average is $45.69 and its 200 day moving average is $48.27. The stock has a market capitalization of $4.32 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 4.32 and a beta of 1.69.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Monday, March 17th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 39.84%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bamco Inc. NY boosted its holdings in shares of Red Rock Resorts by 6.9% in the 4th quarter. Bamco Inc. NY now owns 11,356,201 shares of the company’s stock worth $525,111,000 after purchasing an additional 732,917 shares in the last quarter. Vanguard Group Inc. lifted its position in Red Rock Resorts by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,181,146 shares of the company’s stock worth $239,576,000 after buying an additional 50,193 shares during the last quarter. Eminence Capital LP boosted its stake in Red Rock Resorts by 36.1% in the fourth quarter. Eminence Capital LP now owns 2,056,588 shares of the company’s stock worth $95,097,000 after buying an additional 546,047 shares in the last quarter. Long Pond Capital LP boosted its stake in Red Rock Resorts by 142.5% in the fourth quarter. Long Pond Capital LP now owns 1,474,153 shares of the company’s stock worth $68,165,000 after buying an additional 866,320 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in Red Rock Resorts by 20.6% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock valued at $62,149,000 after acquiring an additional 229,843 shares during the last quarter. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Company Profile

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.