Red Rock Resorts (NASDAQ:RRR) Lowered to “Sell” at BidaskClub

BidaskClub lowered shares of Red Rock Resorts (NASDAQ:RRR) from a hold rating to a sell rating in a research note published on Saturday, BidAskClub reports.

A number of other research analysts have also recently commented on the stock. SunTrust Banks reissued a buy rating and set a $14.00 target price on shares of Red Rock Resorts in a research report on Wednesday, May 20th. Nomura reduced their target price on shares of Red Rock Resorts from $30.00 to $14.00 in a research report on Wednesday, May 20th. Deutsche Bank reduced their target price on shares of Red Rock Resorts from $31.00 to $14.00 and set a buy rating on the stock in a research report on Wednesday, May 20th. Nomura Instinet reduced their target price on shares of Red Rock Resorts from $30.00 to $14.00 and set a buy rating on the stock in a research report on Wednesday, May 20th. Finally, ValuEngine raised shares of Red Rock Resorts from a hold rating to a buy rating in a research report on Friday, May 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $17.67.

RRR opened at $10.91 on Friday. The company has a quick ratio of 4.79, a current ratio of 4.86 and a debt-to-equity ratio of 6.68. Red Rock Resorts has a 52-week low of $2.76 and a 52-week high of $27.91. The company has a 50 day moving average of $12.54 and a two-hundred day moving average of $16.64. The company has a market cap of $1.20 billion, a P/E ratio of -4.53 and a beta of 2.63.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, May 19th. The company reported ($2.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($2.31). Red Rock Resorts had a positive return on equity of 4.27% and a negative net margin of 9.34%. The business had revenue of $377.40 million for the quarter, compared to analysts’ expectations of $393.43 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Red Rock Resorts’s quarterly revenue was down 15.6% compared to the same quarter last year. Research analysts anticipate that Red Rock Resorts will post -3.25 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP acquired a new stake in shares of Red Rock Resorts during the first quarter worth $486,000. Rhumbline Advisers raised its holdings in shares of Red Rock Resorts by 3.0% during the fourth quarter. Rhumbline Advisers now owns 95,242 shares of the company’s stock worth $2,281,000 after purchasing an additional 2,803 shares during the period. Swiss National Bank raised its holdings in shares of Red Rock Resorts by 2.1% during the fourth quarter. Swiss National Bank now owns 134,700 shares of the company’s stock worth $3,226,000 after purchasing an additional 2,800 shares during the period. State Street Corp raised its holdings in shares of Red Rock Resorts by 1.0% during the fourth quarter. State Street Corp now owns 1,452,299 shares of the company’s stock worth $34,783,000 after purchasing an additional 14,206 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Red Rock Resorts by 10.0% during the fourth quarter. Victory Capital Management Inc. now owns 11,370 shares of the company’s stock worth $272,000 after purchasing an additional 1,033 shares during the period. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

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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