BidaskClub downgraded shares of Red Rock Resorts (NASDAQ:RRR) from a hold rating to a sell rating in a report published on Wednesday.
Several other equities research analysts also recently weighed in on RRR. Telsey Advisory Group assumed coverage on Red Rock Resorts in a report on Tuesday, March 13th. They issued a market perform rating and a $32.00 price objective for the company. Zacks Investment Research downgraded Red Rock Resorts from a hold rating to a sell rating in a report on Wednesday, January 24th. ValuEngine raised Red Rock Resorts from a hold rating to a buy rating in a report on Saturday, February 17th. Macquarie downgraded Red Rock Resorts from an outperform rating to a neutral rating in a report on Tuesday. They noted that the move was a valuation call. Finally, Stifel Nicolaus downgraded Red Rock Resorts from a buy rating to a hold rating and increased their price objective for the company from $29.00 to $37.00 in a report on Friday, February 23rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Red Rock Resorts presently has an average rating of Buy and an average target price of $32.75.
Shares of Red Rock Resorts stock opened at $28.97 on Wednesday. The company has a market capitalization of $3,337.97, a price-to-earnings ratio of 46.73 and a beta of 1.56. Red Rock Resorts has a 52 week low of $21.41 and a 52 week high of $35.77. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.38 and a current ratio of 1.43.
Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. The company had revenue of $394.02 million for the quarter, compared to analyst estimates of $406.75 million. Red Rock Resorts had a net margin of 2.18% and a return on equity of 16.11%. analysts anticipate that Red Rock Resorts will post 1.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Thursday, March 15th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Wednesday, March 14th. Red Rock Resorts’s payout ratio is currently 64.52%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Red Rock Resorts by 763.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,964 shares of the company’s stock worth $134,000 after purchasing an additional 3,505 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of Red Rock Resorts by 302.0% during the third quarter. Cubist Systematic Strategies LLC now owns 5,801 shares of the company’s stock worth $134,000 after purchasing an additional 4,358 shares during the period. Verity Asset Management Inc. acquired a new stake in shares of Red Rock Resorts during the fourth quarter worth $211,000. Guggenheim Capital LLC acquired a new stake in shares of Red Rock Resorts during the fourth quarter worth $224,000. Finally, Solstein Capital LLC acquired a new stake in shares of Red Rock Resorts during the fourth quarter worth $280,000. 63.22% of the stock is owned by hedge funds and other institutional investors.
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About Red Rock Resorts
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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