BidaskClub Lowers Red Rock Resorts (NASDAQ:RRR) to Strong Sell

BidaskClub cut shares of Red Rock Resorts (NASDAQ:RRR) from a sell rating to a strong sell rating in a report released on Monday morning, BidAskClub reports.

A number of other brokerages have also recently commented on RRR. Telsey Advisory Group reiterated a market perform rating and issued a $26.00 target price (down previously from $28.00) on shares of Red Rock Resorts in a research report on Wednesday, May 1st. Zacks Investment Research upgraded shares of Red Rock Resorts from a sell rating to a hold rating in a research report on Tuesday, April 16th. Goldman Sachs Group upgraded shares of Red Rock Resorts from a neutral rating to a buy rating and decreased their target price for the stock from $31.00 to $29.00 in a research report on Tuesday, June 11th. TheStreet upgraded shares of Red Rock Resorts from a c+ rating to a b- rating in a research report on Friday, April 26th. Finally, Deutsche Bank reiterated a buy rating and issued a $31.00 target price on shares of Red Rock Resorts in a research report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Red Rock Resorts has a consensus rating of Hold and an average target price of $30.29.

Red Rock Resorts stock opened at $20.88 on Monday. The firm’s fifty day moving average is $22.45. The company has a debt-to-equity ratio of 3.52, a quick ratio of 0.82 and a current ratio of 0.86. The stock has a market cap of $2.44 billion, a PE ratio of 15.94 and a beta of 2.27. Red Rock Resorts has a fifty-two week low of $18.78 and a fifty-two week high of $36.99.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.16). The company had revenue of $447.00 million for the quarter, compared to analysts’ expectations of $445.50 million. Red Rock Resorts had a net margin of 6.89% and a return on equity of 10.08%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. On average, equities research analysts forecast that Red Rock Resorts will post 1 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, June 13th. Red Rock Resorts’s payout ratio is presently 30.53%.

In other Red Rock Resorts news, insider Joseph J. Hasson sold 12,891 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $23.24, for a total value of $299,586.84. Following the sale, the insider now owns 12,891 shares of the company’s stock, valued at approximately $299,586.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.40% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Bank of Montreal Can grew its holdings in Red Rock Resorts by 47.5% in the 4th quarter. Bank of Montreal Can now owns 1,437 shares of the company’s stock worth $29,000 after acquiring an additional 463 shares during the last quarter. First Quadrant L P CA bought a new stake in Red Rock Resorts in the 1st quarter worth $42,000. Creative Planning bought a new stake in Red Rock Resorts in the 1st quarter worth $222,000. NumerixS Investment Technologies Inc grew its holdings in Red Rock Resorts by 151.3% in the 1st quarter. NumerixS Investment Technologies Inc now owns 9,800 shares of the company’s stock worth $252,000 after acquiring an additional 5,900 shares during the last quarter. Finally, Amalgamated Bank bought a new stake in Red Rock Resorts in the 4th quarter worth $206,000. 61.82% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Company Profile

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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Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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