Red Rock Resorts (RRR) Upgraded by Zacks Investment Research to “Strong-Buy”
Zacks Investment Research upgraded shares of Red Rock Resorts (NASDAQ:RRR) from a hold rating to a strong-buy rating in a research report released on Thursday morning. Zacks Investment Research currently has $39.00 target price on the stock.
According to Zacks, “Red Rock Resorts manage and own an indirect equity interest in Station Casinos LLC. Station is the provider of gaming and entertainment primarily in Las Vegas, Nevada. Red Rock Resorts is based in LAS VEGAS, United States. “
A number of other analysts have also commented on the company. Deutsche Bank reaffirmed a buy rating and issued a $35.00 target price on shares of Red Rock Resorts in a research report on Tuesday, November 28th. Union Gaming Research lowered Red Rock Resorts from a buy rating to a hold rating and decreased their target price for the company from $28.00 to $27.00 in a research report on Thursday, November 9th. JPMorgan Chase & Co. reaffirmed a buy rating and issued a $33.00 target price on shares of Red Rock Resorts in a research report on Tuesday, November 28th. ValuEngine raised Red Rock Resorts from a hold rating to a buy rating in a research report on Sunday, December 31st. Finally, BidaskClub lowered Red Rock Resorts from a strong-buy rating to a buy rating in a research report on Thursday, January 4th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Red Rock Resorts has a consensus rating of Buy and a consensus target price of $32.86.
Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, February 27th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Red Rock Resorts had a return on equity of 16.11% and a net margin of 2.18%. The business had revenue of $394.02 million during the quarter, compared to analyst estimates of $406.75 million. equities analysts forecast that Red Rock Resorts will post 1.19 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Wednesday, March 14th. Red Rock Resorts’s dividend payout ratio is currently 95.24%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Verition Fund Management LLC bought a new stake in Red Rock Resorts during the 4th quarter worth approximately $342,000. Millennium Management LLC purchased a new position in shares of Red Rock Resorts in the 4th quarter worth approximately $35,370,000. TIAA CREF Investment Management LLC boosted its stake in shares of Red Rock Resorts by 46.2% in the 4th quarter. TIAA CREF Investment Management LLC now owns 1,430,059 shares of the company’s stock worth $48,250,000 after buying an additional 451,588 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Red Rock Resorts by 125.5% in the 4th quarter. Teachers Advisors LLC now owns 1,942,818 shares of the company’s stock worth $65,551,000 after buying an additional 1,081,326 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Red Rock Resorts by 7.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,084,781 shares of the company’s stock valued at $36,600,000 after purchasing an additional 76,545 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.
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About Red Rock Resorts
Red Rock Resorts, Inc is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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