Red Rock Resorts (NASDAQ:RRR) Hits New 12-Month Low – Here’s Why

Red Rock Resorts, Inc. (NASDAQ:RRR)’s stock price hit a new 52-week low on Monday . The company traded as low as $41.46 and last traded at $42.22, with a volume of 22640 shares. The stock had previously closed at $43.12.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RRR. Mizuho raised their price objective on shares of Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Stifel Nicolaus raised their price target on shares of Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. JMP Securities dropped their price objective on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 16th. Susquehanna raised their target price on Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $51.00 target price (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Red Rock Resorts currently has a consensus rating of “Hold” and a consensus target price of $57.33.

Red Rock Resorts Stock Down 2.9 %

The stock has a market capitalization of $4.47 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 4.32 and a beta of 2.01. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The stock has a fifty day moving average price of $47.81 and a 200 day moving average price of $49.41.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. On average, research analysts forecast that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.25 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. Red Rock Resorts’s dividend payout ratio (DPR) is currently 39.84%.

Institutional Trading of Red Rock Resorts

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its holdings in Red Rock Resorts by 654.7% in the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock valued at $41,000 after purchasing an additional 766 shares during the period. Quarry LP increased its holdings in shares of Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after purchasing an additional 930 shares during the period. KBC Group NV raised its position in shares of Red Rock Resorts by 37.1% in the fourth quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after buying an additional 540 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Red Rock Resorts by 47.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock valued at $95,000 after buying an additional 664 shares during the period. Finally, Mayfair Advisory Group LLC grew its position in Red Rock Resorts by 15.1% during the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after buying an additional 591 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.