Red Rock Resorts (NASDAQ:RRR) Reaches New 12-Month Low – What’s Next?

Red Rock Resorts, Inc. (NASDAQ:RRR)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $44.18 and last traded at $44.72, with a volume of 577568 shares changing hands. The stock had previously closed at $46.24.

Wall Street Analyst Weigh In

Several research analysts recently commented on RRR shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $51.00 target price (down from $64.00) on shares of Red Rock Resorts in a research note on Friday. JMP Securities reiterated a “market outperform” rating and set a $65.00 target price on shares of Red Rock Resorts in a report on Monday, October 14th. Wells Fargo & Company reduced their price target on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Barclays cut their price objective on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Finally, Mizuho downgraded Red Rock Resorts from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $57.00 to $44.00 in a report on Monday, November 25th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Red Rock Resorts has a consensus rating of “Hold” and a consensus price target of $59.69.

Red Rock Resorts Price Performance

The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The company has a market cap of $4.74 billion, a P/E ratio of 16.63, a P/E/G ratio of 6.69 and a beta of 2.01. The firm’s fifty day moving average is $49.69 and its two-hundred day moving average is $53.07.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.23%. Red Rock Resorts’s dividend payout ratio (DPR) is 37.04%.

Institutional Investors Weigh In On Red Rock Resorts

Hedge funds have recently bought and sold shares of the business. Avior Wealth Management LLC increased its position in Red Rock Resorts by 3.0% during the third quarter. Avior Wealth Management LLC now owns 7,898 shares of the company’s stock valued at $430,000 after acquiring an additional 232 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Red Rock Resorts by 0.9% in the second quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock valued at $1,513,000 after purchasing an additional 241 shares during the period. Arizona State Retirement System grew its holdings in Red Rock Resorts by 3.3% during the 2nd quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock worth $774,000 after acquiring an additional 444 shares in the last quarter. WCG Wealth Advisors LLC boosted its stake in shares of Red Rock Resorts by 2.5% during the second quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company’s stock valued at $1,007,000 after purchasing an additional 450 shares in the last quarter. Finally, King Luther Capital Management Corp increased its holdings in Red Rock Resorts by 1.2% during the third quarter. King Luther Capital Management Corp now owns 64,043 shares of the company’s stock valued at $3,487,000 after buying an additional 765 shares during the period. Hedge funds and other institutional investors 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.