Red Rock Resorts (NASDAQ:RRR) Lifted to “Hold” at ValuEngine

ValuEngine upgraded shares of Red Rock Resorts (NASDAQ:RRR) from a sell rating to a hold rating in a report released on Tuesday, ValuEngine reports.

Several other analysts have also recently commented on RRR. BidaskClub cut Walgreens Boots Alliance from a sell rating to a strong sell rating in a research report on Monday, June 24th. Telsey Advisory Group reissued a market perform rating and set a $5.00 price objective (down previously from $7.50) on shares of Tile Shop in a research report on Wednesday, May 1st. Deutsche Bank cut Hilton Hotels from a buy rating to a hold rating and set a $92.60 price objective for the company. in a research report on Wednesday, May 1st. They noted that the move was a valuation call. TheStreet raised Zimmer Biomet from a c rating to a b- rating in a research report on Friday, April 26th. Finally, Wolfe Research assumed coverage on Red Rock Resorts in a research report on Friday, June 14th. They set a peer perform rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $30.29.

Shares of NASDAQ RRR opened at $21.54 on Tuesday. 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 $21.79. 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 $2.57 billion, a price-to-earnings ratio of 16.44 and a beta of 2.11.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, April 30th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.16). Red Rock Resorts had a return on equity of 10.08% and a net margin of 6.89%. The firm had revenue of $447.00 million for the quarter, compared to the consensus estimate of $445.50 million. During the same period in the prior year, the business earned $0.65 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Red Rock Resorts will post 0.95 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Thursday, June 13th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 30.53%.

In related news, insider Joseph J. Hasson sold 12,891 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $23.24, for a total value of $299,586.84. Following the completion of the sale, the insider now directly owns 12,891 shares in the company, valued at approximately $299,586.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.40% of the company’s stock.

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in shares of Red Rock Resorts by 17.4% during 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 last quarter. Dimensional Fund Advisors LP raised its position in shares of Red Rock Resorts by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 671,700 shares of the company’s stock valued at $13,642,000 after acquiring an additional 15,763 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Red Rock Resorts by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 758,541 shares of the company’s stock valued at $15,405,000 after acquiring an additional 53,258 shares during the last quarter. Cohen & Steers Inc. raised its position in shares of Red Rock Resorts by 2.9% during the 4th quarter. Cohen & Steers Inc. now owns 5,919,209 shares of the company’s stock valued at $120,219,000 after acquiring an additional 165,784 shares during the last quarter. Finally, Shellback Capital LP bought a new stake in shares of Red Rock Resorts during the 4th quarter valued at $1,715,000. Institutional investors and hedge funds own 61.82% of the company’s stock.

About Red Rock Resorts

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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