BidaskClub lowered shares of Red Rock Resorts (NASDAQ:RRR) from a hold rating to a sell rating in a research note released on Wednesday.

Other equities research analysts have also issued reports about the company. SunTrust Banks reiterated a buy rating and issued a $38.00 price objective on shares of Red Rock Resorts in a research report on Thursday, August 16th. TheStreet lowered Red Rock Resorts from a b- rating to a c rating in a research report on Monday, September 24th. ValuEngine lowered Red Rock Resorts from a hold rating to a sell rating in a research report on Monday, October 8th. Finally, Zacks Investment Research lowered Red Rock Resorts from a hold rating to a sell rating in a research report on Friday, October 5th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $35.30.

RRR traded down $0.64 on Wednesday, hitting $22.54. 1,356,407 shares of the company were exchanged, compared to its average volume of 1,131,513. The company has a debt-to-equity ratio of 3.23, a current ratio of 0.67 and a quick ratio of 0.63. Red Rock Resorts has a 12 month low of $21.52 and a 12 month high of $36.99. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 36.35 and a beta of 1.56.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, July 31st. The company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.08. The firm had revenue of $416.19 million for the quarter, compared to analyst estimates of $408.46 million. Red Rock Resorts had a return on equity of 13.23% and a net margin of 10.74%. As a group, sell-side analysts anticipate that Red Rock Resorts will post 1.27 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.77%. Red Rock Resorts’s dividend payout ratio is presently 64.52%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Diamond Hill Capital Management Inc. boosted its position in shares of Red Rock Resorts by 1.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 4,785,077 shares of the company’s stock valued at $160,300,000 after purchasing an additional 55,976 shares in the last quarter. BlackRock Inc. boosted its position in shares of Red Rock Resorts by 7.5% during the second quarter. BlackRock Inc. now owns 4,575,902 shares of the company’s stock valued at $153,294,000 after purchasing an additional 319,277 shares in the last quarter. Millennium Management LLC boosted its position in shares of Red Rock Resorts by 78.0% during the second quarter. Millennium Management LLC now owns 1,772,281 shares of the company’s stock valued at $59,371,000 after purchasing an additional 776,617 shares in the last quarter. Northern Trust Corp boosted its position in shares of Red Rock Resorts by 8.5% during the second quarter. Northern Trust Corp now owns 877,529 shares of the company’s stock valued at $29,399,000 after purchasing an additional 68,819 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Red Rock Resorts by 4.8% during the second quarter. Victory Capital Management Inc. now owns 845,987 shares of the company’s stock valued at $28,340,000 after purchasing an additional 38,690 shares in the last quarter. Institutional investors own 61.12% of the company’s stock.

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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