Red Rock Resorts (NASDAQ:RRR) Hits New 1-Year Low – Should You Sell?

Red Rock Resorts, Inc. (NASDAQ:RRR)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $35.09 and last traded at $35.80, with a volume of 67405 shares changing hands. The stock had previously closed at $37.62.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RRR. Mizuho boosted 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. Jefferies Financial Group restated a “hold” rating and issued a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Truist Financial lowered their price target on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Stifel Nicolaus lifted their price objective on Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Finally, Susquehanna upped their target price on shares of Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a research note on Wednesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $57.33.

Red Rock Resorts Stock Performance

The business’s 50-day moving average price is $47.37 and its 200-day moving average price is $49.12. The stock has a market cap of $3.96 billion, a P/E ratio of 14.97, a P/E/G ratio of 4.32 and a beta of 1.69. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. As a group, sell-side analysts expect that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.25 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.68%. Red Rock Resorts’s dividend payout ratio (DPR) is 39.84%.

Hedge Funds Weigh In On Red Rock Resorts

Several institutional investors have recently added to or reduced their stakes in the company. Bamco Inc. NY boosted its position in shares of Red Rock Resorts by 6.9% during the 4th quarter. Bamco Inc. NY now owns 11,356,201 shares of the company’s stock valued at $525,111,000 after acquiring an additional 732,917 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Red Rock Resorts by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 5,181,146 shares of the company’s stock worth $239,576,000 after buying an additional 50,193 shares during the period. Eminence Capital LP lifted its position in shares of Red Rock Resorts by 36.1% during the fourth quarter. Eminence Capital LP now owns 2,056,588 shares of the company’s stock worth $95,097,000 after purchasing an additional 546,047 shares during the last quarter. Long Pond Capital LP boosted its position in Red Rock Resorts by 142.5% in the 4th quarter. Long Pond Capital LP now owns 1,474,153 shares of the company’s stock valued at $68,165,000 after buying an additional 866,320 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Red Rock Resorts by 20.6% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock worth $62,149,000 after purchasing an additional 229,843 shares in the last quarter. Hedge funds and other 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.