Red Rock Resorts (NASDAQ:RRR) Shares Up 10.1%

Red Rock Resorts Inc (NASDAQ:RRR)’s stock price shot up 10.1% on Wednesday . The stock traded as high as $9.53 and last traded at $9.59, 125,712 shares changed hands during trading. A decline of 95% from the average session volume of 2,461,033 shares. The stock had previously closed at $8.71.

Several brokerages have weighed in on RRR. Nomura raised their price objective on Red Rock Resorts from to in a research note on Wednesday, February 5th. BidaskClub upgraded Red Rock Resorts from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Deutsche Bank restated a “buy” rating and set a $31.00 price objective (up from $25.00) on shares of Red Rock Resorts in a research note on Wednesday, February 5th. ValuEngine cut Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Wednesday, March 18th. Finally, Zacks Investment Research lowered Red Rock Resorts from a “hold” rating to a “sell” rating and set a $25.00 target price for the company. in a research report on Monday, January 20th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Red Rock Resorts currently has an average rating of “Hold” and an average target price of $27.11.

The stock has a market capitalization of $1.02 billion, a PE ratio of -156.26 and a beta of 2.03. The firm has a 50-day moving average price of $18.19 and a 200-day moving average price of $21.51. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 3.83.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.06). Red Rock Resorts had a negative net margin of 0.18% and a positive return on equity of 6.30%. The business had revenue of $460.80 million for the quarter, compared to analysts’ expectations of $464.30 million. During the same period in the prior year, the business earned $0.11 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Sell-side analysts expect that Red Rock Resorts Inc will post 0.92 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.66%. The ex-dividend date is Thursday, March 12th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 222.22%.

A number of institutional investors and hedge funds have recently made changes to their positions in RRR. Capital Research Global Investors bought a new position in Red Rock Resorts in the 4th quarter worth about $25,387,000. Goldman Sachs Group Inc. boosted its stake in Red Rock Resorts by 546.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,071,597 shares of the company’s stock worth $25,665,000 after purchasing an additional 905,891 shares during the period. Zimmer Partners LP bought a new position in Red Rock Resorts in the 3rd quarter worth about $16,716,000. Norges Bank bought a new position in Red Rock Resorts in the 4th quarter worth about $16,571,000. Finally, Cohen & Steers Inc. boosted its stake in Red Rock Resorts by 15.2% in the 4th quarter. Cohen & Steers Inc. now owns 5,147,080 shares of the company’s stock worth $123,273,000 after purchasing an additional 677,193 shares during the period. 61.95% of the stock is owned by institutional investors.

Red Rock Resorts Company Profile (NASDAQ:RRR)

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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