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Red Rock Resorts Inc. (NASDAQ: RRR): What’s Next In 2022?

Red Rock Resorts Inc. (NASDAQ:RRR) shares, rose in value on Friday, 05/13/22, with the stock price up by 2.62% to the previous day’s close as strong demand from buyers drove the stock to $38.39.

Actively observing the price movement in the last trading, the stock closed the session at $37.41, falling within a range of $37.77 and $39.45. The value of beta (5-year monthly) was 2.48 whereas the PE ratio was 12.38 over 12-month period. Referring to stock’s 52-week performance, its high was $55.84, and the low was $34.61. On the whole, RRR has fluctuated by -17.49% over the past month.

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With the market capitalization of Red Rock Resorts Inc. currently standing at about $4.17 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2022 – May 06, 2022. The company’s Forward Dividend Ratio is 1.00, with its dividend yield at 2.60%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.68, which is expected to increase to $0.62 for fiscal year $1.29 and then to about $2.43 by fiscal year 2022. Data indicates that the EPS growth is expected to be 160.60% in 2022, while the next year’s EPS growth is forecast to be 88.40%.

Analysts have estimated the company’s revenue for the quarter at $410.46 million, with a low estimate of $393.7 million and a high estimate of $427.98 million. According to the average forecast, sales growth in current quarter could jump up 19.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $1.61 billion, representing an increase of 35.80% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that RRR’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of RRR currently trading nearly -11.15% and -14.41% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 37.28, while the 7-day volatility ratio is showing 6.32% which for the 30-day chart, stands at 5.91%. Furthermore, Red Rock Resorts Inc. (RRR)’s beta value is 2.28, and its average true range (ATR) is 2.56.

A comparison of Red Rock Resorts Inc. (RRR) with its peers suggests the former has fared considerably weaker in the market. RRR showed an intraday change of 2.62% in last session, and over the past year, it shrunk by -1.11%%. Additionally, there is a gain of 2.62% for Red Rock Resorts Inc. (RRR) in last trading while the stock has seen an overall depriciation of -1.11%% over the past year. The PE ratio stands at 12.38 for Red Rock Resorts Inc. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 2.39%. Meanwhile, the Dow Jones Industrial Improved by 1.47%.

Data on historical trading for Red Rock Resorts Inc. (NASDAQ:RRR) indicates that the trading volumes over the past 3 months, they’ve averaged 734.72K. According to company’s latest data on outstanding shares, there are 66.32 million shares outstanding.

Nearly 1.00% of Red Rock Resorts Inc.’s shares belong to company insiders and institutional investors own 99.00% of the company’s shares. The stock has fallen by -30.21% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RRR stock heading into the next quarter.

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