Red Rock Resorts (NASDAQ:RRR) Lowered to “Sell” at BidaskClub

BidaskClub cut shares of Red Rock Resorts (NASDAQ:RRR) from a hold rating to a sell rating in a report released on Saturday, BidAskClub reports.

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Red Rock Resorts from $30.00 to $13.00 and set an overweight rating on the stock in a report on Wednesday, May 20th. Nomura reduced their target price on shares of Red Rock Resorts from $30.00 to $14.00 in a report on Wednesday, May 20th. ValuEngine upgraded shares of Red Rock Resorts from a hold rating to a buy rating in a report on Friday, May 22nd. Stifel Nicolaus reduced their price objective on shares of Red Rock Resorts from $28.00 to $13.00 and set a hold rating on the stock in a report on Wednesday, May 20th. Finally, SunTrust Banks restated a buy rating and issued a $14.00 price objective on shares of Red Rock Resorts in a report on Wednesday, May 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $17.67.

Red Rock Resorts stock opened at $10.91 on Friday. The firm has a market cap of $1.20 billion, a PE ratio of -4.53 and a beta of 2.63. Red Rock Resorts has a 52-week low of $2.76 and a 52-week high of $27.91. The company has a quick ratio of 4.79, a current ratio of 4.86 and a debt-to-equity ratio of 6.68. The company’s 50 day moving average is $12.54 and its two-hundred day moving average is $16.64.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, May 19th. The company reported ($2.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($2.31). The business had revenue of $377.40 million for the quarter, compared to analyst estimates of $393.43 million. Red Rock Resorts had a positive return on equity of 4.27% and a negative net margin of 9.34%. Red Rock Resorts’s quarterly revenue was down 15.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 earnings per share. On average, equities research analysts anticipate that Red Rock Resorts will post -3.25 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its position in shares of Red Rock Resorts by 93.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,115 shares of the company’s stock valued at $27,000 after buying an additional 1,507 shares during the last quarter. Synovus Financial Corp purchased a new position in shares of Red Rock Resorts in the 1st quarter valued at $28,000. UBS Group AG grew its position in Red Rock Resorts by 121.0% during the 4th quarter. UBS Group AG now owns 1,421 shares of the company’s stock worth $35,000 after purchasing an additional 8,200 shares during the last quarter. Fifth Third Bancorp grew its position in Red Rock Resorts by 13.3% during the 1st quarter. Fifth Third Bancorp now owns 9,411 shares of the company’s stock worth $80,000 after purchasing an additional 1,105 shares during the last quarter. Finally, Advisor Group Holdings Inc. purchased a new position in Red Rock Resorts during the 1st quarter worth $82,000. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Company Profile

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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