Stay Ahead of Wall Street. Find out what is happening to Red Rock Resorts, Inc. (NASDAQ:RRR) stock today? Its price is nose-diving -0.71 points, trading at $26.4 levels, and is down -2.62% from its previous close of $27.11. The shares seem to have an active trading volume day with a reported 111107 contracts so far this session. RRR shares had a relatively better volume day versus average trading capacity of 500.22 thousand shares, but with a 67.52 million float and a 1.31% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for RRR stock indicates that the average analyst price target is $29.13 per share. This means the stock has a potential increase of 10.34% from where the RRR share price has been trading recently.
During the recent trading session for Red Rock Resorts, Inc. (NASDAQ:RRR), the company witnessed their stock drop by $-0.01 over a week and surge $2.4 from the price 20 days ago. When compared to their established 52-week high of $29.8, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/25/19. The recent low of $16.76 stood for a -11.41% since 07/08/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.08 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Red Rock Resorts, Inc., the two-week RSI stands at 57.5. This figure suggests that RRR stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current RRR readings is similarly very revealing as it has a stochastic reading of 73.94% at this stage. This figure means that RRR share price today is being oversold.
Technical chart claims that Red Rock Resorts, Inc. (RRR) would settle between $27.46/share to $27.82/share level. However, if the stock price goes below the $26.59 mark, then the market for Red Rock Resorts, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $26.08 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.1. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at SunTrust raised their recommendation on shares of RRR from Hold to Buy in their opinion released on February 04. BofA/Merrill analysts have lowered their rating of Red Rock Resorts, Inc. (NASDAQ:RRR) stock from Buy to Neutral in a separate flash note issued to investors on January 06. Analysts at Wolfe Research, made their first call for the equity with a Peer Perform recommendation, according to a research note that dated back to June 14.
RRR equity has an average rating of 2.3, with the figure leaning towards a bullish end. 10 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 6 analysts rated Red Rock Resorts, Inc. (NASDAQ:RRR) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, RRR stock price is currently trading at 33.39X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 33.7. Red Rock Resorts, Inc. current P/B ratio of 6.4 means it is trading at a premium against its industry’s 4.5.
Red Rock Resorts, Inc. (RRR)’s current-quarter revenues are projected to climb by nearly 5.5% to hit $470200, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 2.1% from $1.86 billion to a noteworthy $1.89 billion. At the other end of the current quarter income statement, Red Rock Resorts, Inc. is expected to see its adjusted earnings surge by roughly 131.2% to hit $0.37 per share. For the fiscal year, RRR’s earnings are projected to climb by roughly 2400% to hit $1.15 per share.