Red Rock Resorts (NASDAQ:RRR) Reaches New 52-Week Low – Here’s Why

Red Rock Resorts, Inc. (NASDAQ:RRR)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $41.46 and last traded at $42.22, with a volume of 22640 shares traded. The stock had previously closed at $43.12.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JMP Securities cut their price objective on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a report on Thursday, January 16th. Mizuho boosted their target price on Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Truist Financial decreased their target price on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Susquehanna raised their price target on shares of Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus upped their price target on Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $57.33.

Red Rock Resorts Stock Performance

The business’s fifty day moving average is $47.98 and its two-hundred day moving average is $49.56. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The company has a market capitalization of $4.49 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 4.32 and a beta of 2.01.

Red Rock Resorts (NASDAQ:RRR) last announced 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 net margin of 7.94% and a return on equity of 71.00%. Equities research analysts predict that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.25 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 2.36%. Red Rock Resorts’s payout ratio is presently 39.84%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RRR. Sterling Capital Management LLC lifted its position in shares of Red Rock Resorts by 654.7% in the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock worth $41,000 after buying an additional 766 shares in the last quarter. Quarry LP grew its holdings in shares of Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after purchasing an additional 930 shares in the last quarter. KBC Group NV increased its position in Red Rock Resorts by 37.1% in the fourth quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after purchasing an additional 540 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Red Rock Resorts by 47.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock valued at $95,000 after purchasing an additional 664 shares in the last quarter. Finally, Mayfair Advisory Group LLC grew its stake in shares of Red Rock Resorts by 15.1% in the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after buying an additional 591 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors.

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.