Red Rock Resorts (RRR) Trading Up 5.8%

Red Rock Resorts Inc (NASDAQ:RRR) was up 5.8% during trading on Thursday . The stock traded as high as $26.30 and last traded at $25.47. Approximately 2,493,189 shares were traded during trading, an increase of 240% from the average daily volume of 732,507 shares. The stock had previously closed at $24.08.

Several equities research analysts have commented on RRR shares. SunTrust Banks restated a “buy” rating and set a $38.00 price target on shares of Red Rock Resorts in a research note on Thursday, August 16th. BidaskClub lowered Red Rock Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Zacks Investment Research lowered Red Rock Resorts from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. ValuEngine lowered Red Rock Resorts from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Finally, TheStreet lowered Red Rock Resorts from a “b-” rating to a “c” rating in a research note on Monday, September 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $35.38.

The company has a debt-to-equity ratio of 3.23, a current ratio of 0.67 and a quick ratio of 0.63. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 38.35 and a beta of 1.65.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Wednesday, November 7th. The company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.04). Red Rock Resorts had a return on equity of 12.71% and a net margin of 10.84%. The company had revenue of $412.30 million during the quarter, compared to analysts’ expectations of $409.03 million. During the same period in the previous year, the company earned $0.16 EPS. Red Rock Resorts’s quarterly revenue was up 1.6% on a year-over-year basis. On average, analysts predict that Red Rock Resorts Inc will post 1.29 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Thursday, December 13th. Red Rock Resorts’s payout ratio is 64.52%.

Several hedge funds and other institutional investors have recently modified their holdings of RRR. American Century Companies Inc. boosted its position in shares of Red Rock Resorts by 775.7% in the third quarter. American Century Companies Inc. now owns 1,779,473 shares of the company’s stock worth $47,423,000 after buying an additional 1,576,277 shares during the period. Millennium Management LLC boosted its position in shares of Red Rock Resorts by 78.0% in the second quarter. Millennium Management LLC now owns 1,772,281 shares of the company’s stock worth $59,371,000 after buying an additional 776,617 shares during the period. Marshall Wace LLP purchased a new stake in shares of Red Rock Resorts in the second quarter worth about $20,864,000. BlackRock Inc. boosted its position in shares of Red Rock Resorts by 7.5% in the second quarter. BlackRock Inc. now owns 4,575,902 shares of the company’s stock worth $153,294,000 after buying an additional 319,277 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Red Rock Resorts by 33.5% in the third quarter. Victory Capital Management Inc. now owns 1,128,972 shares of the company’s stock worth $30,087,000 after buying an additional 282,985 shares during the period. 61.16% of the stock is owned by institutional investors.

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About Red Rock Resorts (NASDAQ:RRR)

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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