Red Rock Resorts (NASDAQ:RRR) Hits New 1-Year Low – Should You Sell?

Red Rock Resorts, Inc. (NASDAQ:RRR)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $35.09 and last traded at $35.80, with a volume of 67405 shares. The stock had previously closed at $37.62.

Wall Street Analysts Forecast Growth

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

Red Rock Resorts Stock Performance

The firm’s fifty day simple moving average is $47.37 and its 200 day simple moving average is $49.12. The company has a market capitalization of $3.96 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 4.32 and a beta of 1.69. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96.

Red Rock Resorts (NASDAQ:RRR) last issued its 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 return on equity of 71.00% and a net margin of 7.94%. On average, research analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Monday, March 17th. Red Rock Resorts’s dividend payout ratio (DPR) is 39.84%.

Institutional Trading of Red Rock Resorts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised 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 acquiring an additional 766 shares during the period. Quarry LP raised its holdings in Red Rock Resorts by 479.4% in the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after purchasing an additional 930 shares during the period. KBC Group NV raised its holdings in Red Rock Resorts by 37.1% in the 4th 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 period. Tower Research Capital LLC TRC boosted its position 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 worth $95,000 after purchasing an additional 664 shares in the last quarter. Finally, Mayfair Advisory Group LLC grew its holdings in Red Rock Resorts by 15.1% in the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock valued at $208,000 after purchasing an additional 591 shares during the period. Institutional investors and hedge funds own 47.84% of the company’s stock.

About Red Rock Resorts

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.