Zacks Investment Research Upgrades Red Rock Resorts Inc (RRR) to Hold
Red Rock Resorts Inc (NASDAQ:RRR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Red Rock Resorts manage and own an indirect equity interest in Station Casinos LLC. Station is the provider of gaming and entertainment primarily in Las Vegas, Nevada. Red Rock Resorts is based in LAS VEGAS, United States. “
RRR has been the subject of several other research reports. Wells Fargo & Co reaffirmed an “outperform” rating on shares of Red Rock Resorts in a report on Wednesday, March 8th. Buckingham Research began coverage on Red Rock Resorts in a report on Friday, January 27th. They issued a “buy” rating and a $27.00 price objective for the company. Stifel Nicolaus cut their price objective on Red Rock Resorts from $26.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, March 8th. Finally, Aegis began coverage on Red Rock Resorts in a report on Monday, February 13th. They issued a “buy” rating and a $27.50 price objective for the company. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Red Rock Resorts presently has a consensus rating of “Buy” and an average price target of $25.71.
Shares of Red Rock Resorts (NASDAQ:RRR) traded up 3.22% on Wednesday, reaching $24.03. The company’s stock had a trading volume of 2,402,632 shares. The stock has a 50-day moving average of $22.67 and a 200 day moving average of $22.79. The company’s market cap is $1.58 billion. Red Rock Resorts has a 52-week low of $19.03 and a 52-week high of $24.67.
Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Thursday, May 4th. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.07. Red Rock Resorts had a return on equity of 21.98% and a net margin of 10.19%. The firm had revenue of $417.73 million during the quarter, compared to the consensus estimate of $402.88 million. During the same period in the previous year, the firm earned $0.64 EPS. The business’s revenue was up 16.3% on a year-over-year basis. On average, equities research analysts forecast that Red Rock Resorts will post $1.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 30th. Shareholders of record on Tuesday, May 16th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, May 12th.
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Hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its stake in Red Rock Resorts by 100.9% in the first quarter. Fifth Third Bancorp now owns 5,022 shares of the company’s stock valued at $111,000 after buying an additional 2,522 shares in the last quarter. Sei Investments Co. raised its stake in Red Rock Resorts by 559.5% in the third quarter. Sei Investments Co. now owns 6,377 shares of the company’s stock valued at $150,000 after buying an additional 5,410 shares in the last quarter. UBS Group AG raised its stake in Red Rock Resorts by 340.6% in the first quarter. UBS Group AG now owns 8,698 shares of the company’s stock valued at $193,000 after buying an additional 6,724 shares in the last quarter. SG Americas Securities LLC raised its stake in Red Rock Resorts by 29.8% in the first quarter. SG Americas Securities LLC now owns 11,177 shares of the company’s stock valued at $248,000 after buying an additional 2,568 shares in the last quarter. Finally, Guggenheim Capital LLC bought a new stake in Red Rock Resorts during the fourth quarter valued at about $275,000.
About Red Rock Resorts
Red Rock Resorts, Inc is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements.
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