Red Rock Resorts (RRR) Lowered to C at TheStreet

TheStreet cut shares of Red Rock Resorts (NASDAQ:RRR) from a b- rating to a c rating in a research report sent to investors on Monday morning.

RRR has been the topic of several other research reports. BidaskClub lowered Red Rock Resorts from a hold rating to a sell rating in a research report on Friday, August 10th. Zacks Investment Research lowered Red Rock Resorts from a buy rating to a hold rating in a research report on Friday, August 3rd. ValuEngine lowered Red Rock Resorts from a buy rating to a hold rating in a research report on Friday, September 7th. Finally, SunTrust Banks reissued a buy rating and set a $38.00 target price on shares of Red Rock Resorts in a research report on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $35.30.

Shares of NASDAQ RRR opened at $27.39 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 3.23. Red Rock Resorts has a fifty-two week low of $22.67 and a fifty-two week high of $36.99. The stock has a market cap of $3.21 billion, a PE ratio of 44.18 and a beta of 1.43.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, July 31st. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.08. Red Rock Resorts had a return on equity of 13.23% and a net margin of 10.74%. The business had revenue of $416.19 million for the quarter, compared to analyst estimates of $408.46 million. equities analysts forecast that Red Rock Resorts will post 1.4 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.46%. The ex-dividend date is Thursday, September 13th. Red Rock Resorts’s dividend payout ratio (DPR) is 64.52%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRR. Northern Trust Corp grew its stake in shares of Red Rock Resorts by 8.5% in the 2nd quarter. Northern Trust Corp now owns 877,529 shares of the company’s stock valued at $29,399,000 after purchasing an additional 68,819 shares during the last quarter. Millennium Management LLC grew its stake in shares of Red Rock Resorts by 78.0% in the 2nd quarter. Millennium Management LLC now owns 1,772,281 shares of the company’s stock valued at $59,371,000 after purchasing an additional 776,617 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Red Rock Resorts in the 2nd quarter valued at approximately $20,864,000. Caerus Investors LLC grew its stake in shares of Red Rock Resorts by 265.7% in the 2nd quarter. Caerus Investors LLC now owns 216,576 shares of the company’s stock valued at $7,255,000 after purchasing an additional 157,352 shares during the last quarter. Finally, North Run Capital LP grew its stake in shares of Red Rock Resorts by 14.0% in the 2nd quarter. North Run Capital LP now owns 265,000 shares of the company’s stock valued at $8,878,000 after purchasing an additional 32,500 shares during the last quarter. 61.29% of the stock is currently owned by 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.

Featured Story: Average Daily Trade Volume – What You Need to Know

Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

Receive News & Ratings for Red Rock Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Rock Resorts and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply