Red Rock Resorts (NASDAQ:RRR) Hits New 1-Year Low - Here's What Happened

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) reached a new 52-week low during trading on Tuesday . The stock traded as low as $42.44 and last traded at $42.44, with a volume of 400006 shares trading hands. The stock had previously closed at $44.47.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Mizuho boosted their price target on Red Rock Resorts from $44.00 to $52.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Jefferies Financial Group reissued a "hold" rating and set a $51.00 target price (down from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Stifel Nicolaus boosted their target price on Red Rock Resorts from $50.00 to $54.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. Susquehanna boosted their target price on Red Rock Resorts from $60.00 to $61.00 and gave the stock a "positive" rating in a report on Wednesday, February 12th. Finally, Truist Financial lowered their price objective on Red Rock Resorts from $56.00 to $49.00 and set a "hold" rating on the stock in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $57.33.

Red Rock Resorts Stock Down 1.9 %

The company has a fifty day moving average price of $48.10 and a 200-day moving average price of $50.60. The stock has a market capitalization of $4.59 billion, a P/E ratio of 17.30, a PEG ratio of 4.32 and a beta of 2.01. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28.

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Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share (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%. As a group, research analysts forecast that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.25 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.31%. Red Rock Resorts's payout ratio is 39.84%.

Hedge Funds Weigh In On Red Rock Resorts

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC raised its holdings 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 valued at $41,000 after buying an additional 766 shares during the last quarter. Quarry LP raised its holdings in shares of Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company's stock valued at $61,000 after buying an additional 930 shares during the last quarter. US Bancorp DE raised its holdings in shares of Red Rock Resorts by 2,223.9% in the third quarter. US Bancorp DE now owns 1,557 shares of the company's stock valued at $85,000 after buying an additional 1,490 shares during the last quarter. KBC Group NV raised its holdings in shares of Red Rock Resorts by 37.1% in the fourth quarter. KBC Group NV now owns 1,996 shares of the company's stock valued at $92,000 after buying an additional 540 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Red Rock Resorts by 47.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock valued at $95,000 after buying an additional 664 shares during the last quarter. 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.