Red Rock Resorts (NASDAQ:RRR) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Red Rock Resorts (NASDAQ:RRR) from a hold rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other research analysts have also recently issued research reports about the company. Zacks Research upgraded Red Rock Resorts from a “strong sell” rating to a “hold” rating in a research note on Friday, August 7th. Wolfe Research assumed coverage on Red Rock Resorts in a research report on Wednesday, September 2nd. They set an “outperform” rating and a $73.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Red Rock Resorts in a research report on Tuesday, October 6th. Stifel Nicolaus set a $74.00 price objective on Red Rock Resorts in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $65.00 target price on shares of Red Rock Resorts in a research report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $69.35.

Red Rock Resorts Price Performance

Shares of RRR opened at $49.85 on Friday. The company has a market capitalization of $5.24 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 4.47 and a beta of 1.42. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 12.33. The firm has a 50 day moving average of $51.38 and a 200 day moving average of $57.79. Red Rock Resorts has a twelve month low of $46.29 and a twelve month high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.62). The business had revenue of $488.70 million during the quarter, compared to the consensus estimate of $478.13 million. Red Rock Resorts had a net margin of 5.79% and a return on equity of 44.10%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.68 earnings per share. As a group, equities research analysts anticipate that Red Rock Resorts will post 1.39 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, December 15th. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. Red Rock Resorts’s payout ratio is currently 52.53%.

Hedge Funds Weigh In On Red Rock Resorts

A number of institutional investors and hedge funds have recently modified their holdings of RRR. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Red Rock Resorts during the 2nd quarter valued at about $3,220,000. Principal Financial Group Inc. increased its position in shares of Red Rock Resorts by 24.1% during the 1st quarter. Principal Financial Group Inc. now owns 287,633 shares of the company’s stock valued at $15,348,000 after purchasing an additional 55,845 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Red Rock Resorts by 168.3% in the 1st quarter. Hsbc Holdings PLC now owns 86,798 shares of the company’s stock worth $4,642,000 after purchasing an additional 54,443 shares during the period. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Red Rock Resorts in the 2nd quarter worth approximately $120,743,000. Finally, SWP Investment Management LLC bought a new position in shares of Red Rock Resorts in the 2nd quarter worth approximately $2,782,000. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

About Red Rock Resorts

Red Rock Resorts, Inc is a gaming, entertainment and hospitality company focused on the Las Vegas market. Through its subsidiary Station Casinos LLC, it owns and operates casino resorts and other gaming and entertainment properties, primarily serving residents of the Las Vegas area.

Its properties include casino gaming, restaurants, bars, hotels and entertainment venues. The company’s portfolio includes resorts such as Red Rock Casino Resort & Spa, Green Valley Ranch Resort Spa & Casino, and Durango Casino & Resort, along with several Station-branded properties.

The company traces its roots to Station Casinos, founded in 1976.