Red Rock Resorts (NASDAQ:RRR) Trading Down 7.2% Following Analyst Downgrade

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) dropped 7.2% during trading on Thursday after Benchmark lowered their price target on the stock from $67.00 to $63.00. Benchmark currently has a buy rating on the stock. Red Rock Resorts traded as low as $52.21 and last traded at $52.00. Approximately 459,567 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 810,283 shares. The stock had previously closed at $56.06.

RRR has been the subject of several other reports. Citigroup restated an “outperform” rating on shares of Red Rock Resorts in a research report on Thursday. Mizuho set a $77.00 target price on Red Rock Resorts in a research report on Wednesday, February 11th. Stifel Nicolaus boosted their target price on Red Rock Resorts from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. JPMorgan Chase & Co. decreased their target price on Red Rock Resorts from $76.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. Finally, Jefferies Financial Group decreased their target price on Red Rock Resorts from $79.00 to $74.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.21.

Red Rock Resorts News Summary

Here are the key news stories impacting Red Rock Resorts this week:

• Positive Sentiment: Q1 EPS beat: Red Rock reported $0.73 EPS, well ahead of consensus (roughly $0.54–$0.56), which removes one immediate earnings concern and supports valuation. Red Rock Resorts (RRR) Surpasses Q1 Earnings Estimates
• Positive Sentiment: Dividend declared: the board approved a $0.26 quarterly dividend (annualized yield ~1.9%), payable June 30 with an ex-dividend/record date of June 15 — modest income support for the shares.
• Neutral Sentiment: Earnings call transcript posted: the full Q1 earnings call transcript is available for investors to parse management commentary on demand trends, costs and outlook. Red Rock Resorts, Inc. (RRR) Q1 2026 Earnings Call Transcript
• Neutral Sentiment: Analyst notes and metric reviews: industry write-ups highlight Red Rock’s history of beating estimates but emphasize mixed unit metrics and margin dynamics to watch next quarter. Red Rock Resorts (RRR) Reports Q1 Earnings: What Key Metrics Have to Say
• Negative Sentiment: Revenue essentially flat / slight miss: consolidated net revenue rose only 1.9% year‑over‑year to ~$507.3M and came in marginally below the Street’s revenue estimate, which likely disappointed growth-focused investors. Red Rock Resorts Announces First Quarter 2026 Results
• Negative Sentiment: Y/Y EPS decline and technical weakness: EPS of $0.73 was below last year’s $0.75, and the stock is trading under its 50- and 200-day moving averages with below-average intraday volume — factors that can amplify selling on mixed results.

Hedge Funds Weigh In On Red Rock Resorts

A number of large investors have recently bought and sold shares of RRR. Salomon & Ludwin LLC acquired a new position in Red Rock Resorts during the 4th quarter worth approximately $25,000. Kestra Advisory Services LLC acquired a new position in Red Rock Resorts during the 4th quarter worth approximately $27,000. Rockefeller Capital Management L.P. boosted its position in Red Rock Resorts by 1,924.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock worth $31,000 after acquiring an additional 481 shares during the last quarter. Strs Ohio acquired a new position in Red Rock Resorts during the 3rd quarter worth approximately $37,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Red Rock Resorts by 53.8% in the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after buying an additional 263 shares during the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Trading Down 7.8%

The company has a market cap of $5.43 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 2.42 and a beta of 1.48. The company has a debt-to-equity ratio of 10.26, a quick ratio of 0.74 and a current ratio of 0.79. The firm has a fifty day moving average price of $57.67 and a 200 day moving average price of $59.26.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.56 by $0.17. The company had revenue of $507.32 million during the quarter, compared to the consensus estimate of $507.77 million. Red Rock Resorts had a return on equity of 58.13% and a net margin of 9.35%.The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. As a group, equities analysts predict that Red Rock Resorts, Inc. will post 2.12 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. Red Rock Resorts’s dividend payout ratio is 33.23%.

About Red Rock Resorts

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.