BidaskClub Upgrades Red Rock Resorts (RRR) to Sell

BidaskClub upgraded shares of Red Rock Resorts (NASDAQ:RRR) from a strong sell rating to a sell rating in a research report released on Friday.

A number of other equities analysts also recently issued reports on RRR. ValuEngine downgraded shares of Red Rock Resorts from a hold rating to a sell rating in a report on Monday, October 8th. Zacks Investment Research downgraded shares of Red Rock Resorts from a hold rating to a sell rating in a report on Friday, October 5th. TheStreet downgraded shares of Red Rock Resorts from a b- rating to a c rating in a report on Monday, September 24th. Finally, SunTrust Banks reaffirmed a buy rating and set a $38.00 price objective on shares of Red Rock Resorts in a report on Thursday, August 16th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $35.30.

NASDAQ RRR opened at $24.58 on Friday. Red Rock Resorts has a 12-month low of $22.84 and a 12-month high of $36.99. The company has a debt-to-equity ratio of 3.23, a current ratio of 0.67 and a quick ratio of 0.63. The firm has a market capitalization of $3.10 billion, a P/E ratio of 39.65 and a beta of 1.59.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Tuesday, July 31st. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.08. Red Rock Resorts had a net margin of 10.74% and a return on equity of 13.23%. The business had revenue of $416.19 million during the quarter, compared to the consensus estimate of $408.46 million. On average, sell-side analysts expect that Red Rock Resorts will post 1.4 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, September 13th. Red Rock Resorts’s dividend payout ratio is 64.52%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Prudential Financial Inc. boosted its holdings in shares of Red Rock Resorts by 39.5% in the 1st quarter. Prudential Financial Inc. now owns 9,330 shares of the company’s stock worth $273,000 after buying an additional 2,640 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Red Rock Resorts by 5.3% in the 1st quarter. Northern Trust Corp now owns 808,710 shares of the company’s stock worth $23,679,000 after buying an additional 40,926 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Red Rock Resorts by 0.3% in the 1st quarter. BlackRock Inc. now owns 4,256,625 shares of the company’s stock worth $124,633,000 after buying an additional 12,673 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Red Rock Resorts by 0.6% in the 1st quarter. New York State Common Retirement Fund now owns 320,818 shares of the company’s stock worth $9,394,000 after buying an additional 1,800 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Red Rock Resorts by 507.4% in the 1st quarter. Barclays PLC now owns 74,426 shares of the company’s stock worth $2,180,000 after buying an additional 62,173 shares during the last quarter. 61.29% 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 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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