Red Rock Resorts (NASDAQ:RRR) Trading Up 10.1%

Red Rock Resorts Inc (NASDAQ:RRR)’s share price was up 10.1% during trading on Wednesday . The company traded as high as $9.53 and last traded at $9.59, approximately 125,712 shares were traded during mid-day trading. A decline of 95% from the average daily volume of 2,461,033 shares. The stock had previously closed at $8.71.

A number of equities analysts have commented on RRR shares. Zacks Investment Research cut Red Rock Resorts from a “hold” rating to a “sell” rating and set a $25.00 price target on the stock. in a research note on Monday, January 20th. Deutsche Bank reaffirmed a “buy” rating and issued a $31.00 price target (up from $25.00) on shares of Red Rock Resorts in a research note on Wednesday, February 5th. BidaskClub raised Red Rock Resorts from a “strong sell” rating to a “sell” rating in a research note on Tuesday. ValuEngine cut Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Wednesday, March 18th. Finally, SunTrust Banks raised Red Rock Resorts from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.11.

The company has a debt-to-equity ratio of 3.83, a current ratio of 1.02 and a quick ratio of 0.96. The stock has a market capitalization of $1.02 billion, a PE ratio of -156.26 and a beta of 2.03. The company has a 50 day moving average price of $18.19 and a 200-day moving average price of $21.51.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.06). Red Rock Resorts had a negative net margin of 0.18% and a positive return on equity of 6.30%. The business had revenue of $460.80 million for the quarter, compared to analysts’ expectations of $464.30 million. During the same period last year, the firm posted $0.11 earnings per share. Red Rock Resorts’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities analysts anticipate that Red Rock Resorts Inc will post 0.92 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.40 annualized dividend and a dividend yield of 3.66%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 222.22%.

Several institutional investors and hedge funds have recently bought and sold shares of RRR. First Trust Advisors LP purchased a new position in shares of Red Rock Resorts during the first quarter valued at approximately $486,000. SG Americas Securities LLC purchased a new stake in Red Rock Resorts in the third quarter worth $286,000. Tower Research Capital LLC TRC grew its stake in Red Rock Resorts by 1,848.4% in the third quarter. Tower Research Capital LLC TRC now owns 1,812 shares of the company’s stock worth $37,000 after purchasing an additional 1,719 shares during the period. Voya Investment Management LLC grew its stake in Red Rock Resorts by 6.4% in the third quarter. Voya Investment Management LLC now owns 341,929 shares of the company’s stock worth $6,943,000 after purchasing an additional 20,589 shares during the period. Finally, State Street Corp grew its stake in Red Rock Resorts by 1.2% in the third quarter. State Street Corp now owns 1,438,093 shares of the company’s stock worth $29,200,000 after purchasing an additional 17,234 shares during the period. 61.95% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Company Profile (NASDAQ:RRR)

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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