Benchmark Cuts Red Rock Resorts (NASDAQ:RRR) Price Target to $63.00

Key Points

• Benchmark cut its price target to $63 (from $67) but maintained a "buy" rating, implying roughly a 21% upside from the current share price; the Street consensus remains a "Moderate Buy" with a $69.21 average target.
• Q1 results showed an EPS beat of $0.73 versus roughly $0.56 expected, while revenue was essentially flat year-over-year and EPS was slightly below last year's level; the board also declared a $0.26 quarterly dividend.
• Shares fell 7.2% to $52.02, trading below both the 50- and 200-day moving averages on lighter volume, even as institutional ownership stands near 47.8% with several funds adding to positions.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) had its price objective decreased by research analysts at Benchmark from $67.00 to $63.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Benchmark's price objective would suggest a potential upside of 21.11% from the company's current price.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group lowered their price target on shares of 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. Mizuho set a $77.00 price target on shares of Red Rock Resorts in a research report on Wednesday, February 11th. Barclays increased their target price on shares of Red Rock Resorts from $65.00 to $69.00 and gave the company an "overweight" rating in a research report on Friday, January 16th. Citizens Jmp increased their target price on shares of Red Rock Resorts from $65.00 to $68.00 and gave the company a "market outperform" rating in a research report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. decreased their target price on shares of 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. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Red Rock Resorts currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.21.

Red Rock Resorts Trading Down 7.2%

NASDAQ:RRR traded down $4.04 during mid-day trading on Thursday, hitting $52.02. 578,091 shares of the stock traded hands, compared to its average volume of 811,136. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 10.26. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 2.42 and a beta of 1.48. The firm's 50 day moving average is $57.67 and its two-hundred day moving average is $59.26. Red Rock Resorts has a 52 week low of $41.90 and a 52 week high of $68.99.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.17. The business had revenue of $507.32 million for the quarter, compared to the consensus estimate of $507.77 million. Red Rock Resorts had a net margin of 9.35% and a return on equity of 58.13%. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 EPS. On average, equities research analysts predict that Red Rock Resorts will post 2.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RRR. AQR Capital Management LLC purchased a new position in shares of Red Rock Resorts during the first quarter worth $308,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Red Rock Resorts by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,272 shares of the company's stock worth $1,270,000 after purchasing an additional 1,282 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Red Rock Resorts by 56.2% during the first quarter. Millennium Management LLC now owns 430,150 shares of the company's stock worth $18,656,000 after purchasing an additional 154,839 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Red Rock Resorts by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 106,275 shares of the company's stock worth $4,609,000 after purchasing an additional 4,699 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Red Rock Resorts by 9.1% during the second quarter. American Century Companies Inc. now owns 25,884 shares of the company's stock worth $1,347,000 after purchasing an additional 2,166 shares during the last quarter. Hedge funds and other institutional investors own 47.84% of the company's stock.

Key Headlines Impacting Red Rock Resorts

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.

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.

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