Red Rock Resorts (NASDAQ:RRR) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Red Rock Resorts (NASDAQ:RRR) from a hold rating to a sell rating in a research report released on Saturday.

A number of other research analysts also recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Red Rock Resorts from $79.00 to $74.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Stifel Nicolaus set a $72.00 price objective on shares of Red Rock Resorts in a research report on Thursday, April 30th. Susquehanna lowered their price objective on shares of Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, April 30th. Benchmark reduced their target price on shares of Red Rock Resorts from $67.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Finally, Citizens Jmp reduced their target price on shares of Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating for the company in a report on Thursday, April 30th. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Red Rock Resorts presently has a consensus rating of “Moderate Buy” and an average target price of $67.67.

Red Rock Resorts Stock Down 0.2%

Shares of Red Rock Resorts stock opened at $51.44 on Friday. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 3.45 and a beta of 1.35. The company’s 50 day moving average is $55.86 and its 200 day moving average is $58.83. Red Rock Resorts has a twelve month low of $44.28 and a twelve month high of $68.99. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). The company had revenue of $507.32 million for the quarter, compared to the consensus estimate of $505.63 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $0.75 EPS. Research analysts anticipate that Red Rock Resorts will post 1.73 EPS for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, June 15th. Red Rock Resorts’s dividend payout ratio is currently 33.44%.

Institutional Trading of Red Rock Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RRR. Salomon & Ludwin LLC purchased a new stake in Red Rock Resorts during the fourth quarter valued at approximately $25,000. Kestra Advisory Services LLC purchased a new stake in shares of Red Rock Resorts in the fourth quarter worth $27,000. Rockefeller Capital Management L.P. increased its stake in shares of Red Rock Resorts by 1,924.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock worth $31,000 after purchasing an additional 481 shares in the last quarter. Strs Ohio purchased a new stake in shares of Red Rock Resorts in the third quarter worth $37,000. Finally, GAMMA Investing LLC increased its stake in shares of Red Rock Resorts by 53.8% in the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after purchasing an additional 263 shares in the last quarter. 47.84% of the stock is owned by hedge funds and other institutional investors.

About Red Rock Resorts

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.