TheStreet Lowers Red Rock Resorts (NASDAQ:RRR) to C+

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 Thursday, TheStreetRatingsTable reports.

Other equities analysts have also recently issued research reports about the company. Wolfe Research assumed coverage on Red Rock Resorts in a report on Friday, June 14th. They set a peer perform rating on the stock. Deutsche Bank cut Hilton Hotels from a buy rating to a hold rating and set a $92.60 target price on the stock. in a report on Wednesday, May 1st. They noted that the move was a valuation call. Telsey Advisory Group restated a market perform rating and set a $5.00 target price (down previously from $7.50) on shares of Tile Shop in a report on Wednesday, May 1st. Zacks Investment Research cut Great Portland Estates from a hold rating to a sell rating in a report on Tuesday, April 16th. Finally, ValuEngine upgraded XCel Brands from a sell rating to a hold rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Red Rock Resorts has an average rating of Hold and an average target price of $30.29.

Shares of NASDAQ:RRR opened at $22.36 on Thursday. Red Rock Resorts has a twelve month low of $18.78 and a twelve month high of $36.99. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 17.07 and a beta of 2.11. The company has a debt-to-equity ratio of 3.52, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a fifty day simple moving average of $21.78.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, April 30th. The company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.16). The business had revenue of $447.00 million during the quarter, compared to analyst estimates of $445.50 million. Red Rock Resorts had a net margin of 6.89% and a return on equity of 10.08%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. On average, analysts predict that Red Rock Resorts will post 0.95 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Thursday, June 13th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 30.53%.

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

Several large investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans acquired a new stake in Red Rock Resorts in the 4th quarter valued at approximately $27,092,000. Norges Bank acquired a new stake in Red Rock Resorts in the 4th quarter valued at approximately $14,052,000. FMR LLC raised its position in Red Rock Resorts by 28.1% in the 4th quarter. FMR LLC now owns 2,613,546 shares of the company’s stock valued at $53,081,000 after buying an additional 573,066 shares during the last quarter. Marshall Wace LLP raised its position in Red Rock Resorts by 124.1% in the 1st quarter. Marshall Wace LLP now owns 875,518 shares of the company’s stock valued at $22,632,000 after buying an additional 484,847 shares during the last quarter. Finally, Millennium Management LLC raised its position in Red Rock Resorts by 88.7% in the 4th quarter. Millennium Management LLC now owns 764,373 shares of the company’s stock valued at $15,524,000 after buying an additional 359,237 shares during the last quarter. 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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