Benchmark Issues Pessimistic Forecast for Red Rock Resorts (NASDAQ:RRR) Stock Price

Red Rock Resorts (NASDAQ:RRR) had its price objective cut by Benchmark from $67.00 to $63.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target points to a potential upside of 19.36% from the company’s current price.

Several other equities analysts also recently weighed in on the company. Jefferies Financial Group lowered their target price on Red Rock Resorts from $79.00 to $74.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Stifel Nicolaus lifted their target price on Red Rock Resorts from $71.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Truist Financial lowered their target price on Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley lifted their target price on Red Rock Resorts from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 8th. Finally, Citigroup reiterated an “outperform” rating on shares of Red Rock Resorts in a research report on Thursday. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.93.

Red Rock Resorts Price Performance

NASDAQ RRR opened at $52.78 on Thursday. The company has a market capitalization of $5.54 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 2.40 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 business’s fifty day moving average is $57.42 and its 200 day moving average is $59.23. Red Rock Resorts has a fifty-two week low of $42.25 and a fifty-two week high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.17). The company had revenue of $507.32 million for the quarter, compared to analysts’ expectations of $505.63 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 58.18%. Red Rock Resorts’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. Sell-side analysts predict that Red Rock Resorts will post 2.12 earnings per share for the current year.

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bamco Inc. NY raised its holdings in Red Rock Resorts by 2.0% during the fourth quarter. Bamco Inc. NY now owns 12,519,892 shares of the company’s stock valued at $775,607,000 after acquiring an additional 250,725 shares during the period. Vanguard Group Inc. raised its holdings in Red Rock Resorts by 6.7% during the third quarter. Vanguard Group Inc. now owns 5,564,421 shares of the company’s stock valued at $339,764,000 after acquiring an additional 349,822 shares during the period. State Street Corp raised its holdings in Red Rock Resorts by 62.1% during the fourth quarter. State Street Corp now owns 1,814,812 shares of the company’s stock valued at $112,428,000 after acquiring an additional 695,575 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Red Rock Resorts by 2,248.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock valued at $82,715,000 after acquiring an additional 1,296,956 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in Red Rock Resorts by 7.4% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,207,404 shares of the company’s stock valued at $74,799,000 after acquiring an additional 82,849 shares during the period. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts News Summary

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

• Positive Sentiment: Company announced a quarterly dividend of $0.26 per share (annualized yield ~1.9%), payable June 30 with an ex‑dividend date of June 15 — steady cash return that supports income investors.
• Positive Sentiment: Q1 showed record/solid revenue and beat some narrower estimates (Zacks reported an EPS beat vs its $0.54 est. and Yahoo highlighted record revenue despite construction activity), suggesting demand remains resilient. Earnings Call Highlights Zacks Q1 Beat
• Neutral Sentiment: Top‑line results were roughly in line with estimates (sales in line), so revenue growth alone isn’t driving the move; see coverage noting sales met expectations. MSN: Sales In Line
• Neutral Sentiment: Full Q1 release and call transcript are available for details on margins, construction spend and outlook — useful for investors digging into drivers of operating performance. Press Release Earnings Transcript
• Negative Sentiment: Multiple sell‑side firms cut price targets in the last two days — Citigroup lowered its PT from $76 to $62 while keeping a Buy rating, signaling reduced upside expectations. Benzinga: Citigroup Cut
• Negative Sentiment: JPMorgan trimmed its target to $66 (from $73) but remains Overweight, another sign analysts are moderating estimates after the quarter. Benzinga: JPMorgan Cut
• Negative Sentiment: Other firms (Citizens/JMP, Benchmark, Truist, Wells Fargo) also lowered targets (examples: Citizens JMP $71→$67, Benchmark $67→$63, Truist $70→$68, Wells Fargo $59→$55), which collectively adds downward pressure on the stock as street expectations are pulled in. Benzinga: Multiple Cuts The Fly

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.