Red Rock Resorts (NASDAQ:RRR) Cut to “Strong Sell” at BidaskClub

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

A number of other research analysts also recently commented on the company. ValuEngine downgraded Red Rock Resorts from a hold rating to a sell rating in a report on Saturday, June 1st. Telsey Advisory Group reaffirmed a market perform rating and set a $26.00 target price (down previously from $28.00) on shares of Red Rock Resorts in a report on Wednesday, May 1st. Wolfe Research assumed coverage on Red Rock Resorts in a report on Friday, June 14th. They set a peer perform rating on the stock. Zacks Investment Research raised Red Rock Resorts from a sell rating to a hold rating in a report on Tuesday, April 16th. Finally, TheStreet raised Red Rock Resorts from a c+ rating to a b- rating in a report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $30.29.

Shares of NASDAQ RRR opened at $21.39 on Monday. Red Rock Resorts has a fifty-two week low of $18.78 and a fifty-two week high of $36.99. The company’s 50 day simple moving average is $22.35. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 3.52. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 16.33 and a beta of 2.27.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, June 13th. Red Rock Resorts’s dividend payout ratio (DPR) is 30.53%.

In related news, insider Joseph J. Hasson sold 12,891 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was 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 document filed with the SEC, which is available at the SEC website. Company insiders own 0.40% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can increased its position 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 valued at $29,000 after acquiring an additional 463 shares during the period. Rhumbline Advisers increased its position in Red Rock Resorts by 46.9% in the 4th quarter. Rhumbline Advisers now owns 92,466 shares of the company’s stock valued at $1,878,000 after acquiring an additional 29,522 shares during the period. Bank of New York Mellon Corp increased its position in Red Rock Resorts by 17.4% in the 4th quarter. Bank of New York Mellon Corp now owns 533,719 shares of the company’s stock valued at $10,839,000 after acquiring an additional 79,099 shares during the period. Eagle Asset Management Inc. increased its position in Red Rock Resorts by 20.2% in the 4th quarter. Eagle Asset Management Inc. now owns 440,700 shares of the company’s stock valued at $8,950,000 after acquiring an additional 74,166 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its position in Red Rock Resorts by 10.6% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 6,572,518 shares of the company’s stock valued at $133,488,000 after acquiring an additional 629,672 shares during the period. 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.

See Also: Systematic Risk

Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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