The stock of Red Rock Resorts Inc (NASDAQ: RRR) has increased by 0.34 when compared to last closing price of 49.52.Despite this, the company has seen a loss of -3.10% in its stock price over the last five trading days. seekingalpha.com reported 2024-11-09 that Red Rock Resorts, Inc. (NASDAQ:RRR ) Q3 2024 Earnings Conference Call November 7, 2024 6:00 PM ET Company Participants Stephen Cootey – Chief Financial Officer, Executive Vice President and Treasurer Scott Kreeger – President Lorenzo Fertitta – Vice Chairman, Board Conference Call Participants Joseph Greff – JPMorgan Carlo Santarelli – Deutsche Bank Steve Wieczynski – Stifel David Katz – Jefferies Stephen Grambling – Morgan Stanley Barry Jonas – Truist Securities Brandt Montour – Barclays John DeCree – CBRE Daniel Politzer – Wells Fargo Operator Good afternoon and welcome to Red Rock Resorts Third Quarter 2024 Conference Call. All participants will be in a listen-only mode.
Is It Worth Investing in Red Rock Resorts Inc (NASDAQ: RRR) Right Now?
Red Rock Resorts Inc (NASDAQ: RRR) has a price-to-earnings ratio that is above its average at 21.56x. The stock has a 36-month beta value of 2.04. Opinions on the stock are mixed, with 6 analysts rating it as a “buy,” 3 as “overweight,” 5 as “hold,” and 0 as “sell.”
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The public float for RRR is 50.52M, and at present, short sellers hold a 5.37% of that float. On November 21, 2024, the average trading volume of RRR was 534.70K shares.
RRR’s Market Performance
RRR stock saw a decrease of -3.10% in the past week, with a monthly decline of -3.55% and a quarterly a decrease of -9.36%. The volatility ratio for the week is 2.51%, and the volatility levels for the last 30 days are 3.07% for Red Rock Resorts Inc (RRR). The simple moving average for the past 20 days is -4.87% for RRR’s stock, with a -9.49% simple moving average for the past 200 days.
Analysts’ Opinion of RRR
Many brokerage firms have already submitted their reports for RRR stocks, with Wells Fargo repeating the rating for RRR by listing it as a “Equal Weight.” The predicted price for RRR in the upcoming period, according to Wells Fargo is $64 based on the research report published on July 24, 2024 of the current year 2024.
BofA Securities, on the other hand, stated in their research note that they expect to see RRR reach a price target of $55, previously predicting the price at $57. The rating they have provided for RRR stocks is “Neutral” according to the report published on May 13th, 2024.
Mizuho gave a rating of “Buy” to RRR, setting the target price at $69 in the report published on March 26th of the current year.
RRR Trading at -6.06% from the 50-Day Moving Average
After a stumble in the market that brought RRR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -21.48% of loss for the given period.
Volatility was left at 3.07%, however, over the last 30 days, the volatility rate increased by 2.51%, as shares sank -1.17% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -7.14% lower at present.
During the last 5 trading sessions, RRR fell by -3.10%, which changed the moving average for the period of 200-days by -9.70% in comparison to the 20-day moving average, which settled at $52.24. In addition, Red Rock Resorts Inc saw -5.19% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RRR starting from FERTITTA LORENZO J, who purchase 33,000 shares at the price of $52.91 back on Aug 06 ’24. After this action, FERTITTA LORENZO J now owns 47,579,301 shares of Red Rock Resorts Inc, valued at $1,746,096 using the latest closing price.
FERTITTA LORENZO J, the Vice President of Red Rock Resorts Inc, purchase 33,000 shares at $49.77 during a trade that took place back on Aug 05 ’24, which means that FERTITTA LORENZO J is holding 47,546,301 shares at $1,642,377 based on the most recent closing price.
Stock Fundamentals for RRR
Current profitability levels for the company are sitting at:
- 0.32 for the present operating margin
- 0.6 for the gross margin
The net margin for Red Rock Resorts Inc stands at 0.11. The total capital return value is set at 0.16. Equity return is now at value 109.60, with 4.17 for asset returns.
Based on Red Rock Resorts Inc (RRR), the company’s capital structure generated 0.95 points at debt to capital in total, while cash flow to debt ratio is standing at 0.16. The debt to equity ratio resting at 19.6. The interest coverage ratio of the stock is 2.71.
Currently, EBITDA for the company is 694.32 million with net debt to EBITDA at 4.42. When we switch over and look at the enterprise to sales, we see a ratio of 4.42. The receivables turnover for the company is 22.94for trailing twelve months and the total asset turnover is 0.48. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.02.
Conclusion
To sum up, Red Rock Resorts Inc (RRR) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
