Red Rock Resorts (NASDAQ:RRR) Reaches New 12-Month Low – Time to Sell?

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

Analyst Ratings Changes

Several equities analysts have weighed in on RRR shares. JMP Securities dropped their price objective on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a report on Thursday, January 16th. Jefferies Financial Group reaffirmed a “hold” rating and set a $51.00 price objective (down previously from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Mizuho raised their target price on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Truist Financial cut their price target on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Finally, Stifel Nicolaus lifted their price objective on shares of Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $57.33.

Red Rock Resorts Stock Down 1.9 %

The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The stock’s 50-day simple moving average is $47.98 and its 200 day simple moving average is $49.56. The firm has a market cap of $4.49 billion, a P/E ratio of 16.86, a PEG ratio of 4.32 and a beta of 2.01.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, beating 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, research analysts forecast that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Monday, March 17th. Red Rock Resorts’s dividend payout ratio (DPR) is 39.84%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jefferies Financial Group Inc. bought a new stake in Red Rock Resorts in the 4th quarter valued at about $1,826,000. Voloridge Investment Management LLC raised its position in shares of Red Rock Resorts by 63.4% during the fourth quarter. Voloridge Investment Management LLC now owns 229,792 shares of the company’s stock worth $10,626,000 after purchasing an additional 89,169 shares during the period. ProShare Advisors LLC raised its position in shares of Red Rock Resorts by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 13,855 shares of the company’s stock worth $641,000 after purchasing an additional 4,560 shares during the period. Malaga Cove Capital LLC lifted its holdings in shares of Red Rock Resorts by 46.8% in the 4th quarter. Malaga Cove Capital LLC now owns 13,377 shares of the company’s stock worth $619,000 after purchasing an additional 4,263 shares in the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in Red Rock Resorts in the 4th quarter valued at $269,000. Institutional investors and hedge funds 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.