Red Rock Resorts (NASDAQ:RRR) Given New $62.00 Price Target at Citigroup

Key Points

• Citigroup cut its price target on Red Rock Resorts from $76 to $62 but kept a "buy" rating, and several other brokers trimmed targets too, leaving a consensus target around $67.93 and an overall "Moderate Buy" view.
• Red Rock missed Q1 expectations with EPS of $0.73 versus roughly $0.90 estimated, while revenue was roughly in line at $507.3M, which contributed to the stock falling to about $52.87 (market cap ≈ $5.6B, P/E ~17).

Red Rock Resorts (NASDAQ:RRR - Get Free Report) had its target price lowered by stock analysts at Citigroup from $76.00 to $62.00 in a report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price target would suggest a potential upside of 17.27% from the company's previous close.

Other equities research analysts have also issued reports about the stock. Morgan Stanley boosted their price objective on shares of Red Rock Resorts from $62.00 to $63.00 and gave the company an "equal weight" rating in a report on Wednesday, April 8th. Citizens Jmp lowered their price target on shares of Red Rock Resorts from $71.00 to $67.00 and set a "market outperform" rating on the stock in a report on Thursday. Benchmark lowered their price target on shares of Red Rock Resorts from $67.00 to $63.00 and set a "buy" rating on the stock in a report on Thursday. Mizuho set a $77.00 price target on shares of Red Rock Resorts in a report on Wednesday, February 11th. Finally, Weiss Ratings lowered shares of Red Rock Resorts from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, April 17th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $67.93.

Red Rock Resorts Stock Performance

Shares of RRR traded down $1.09 during trading hours on Friday, reaching $52.87. 613,102 shares of the company traded hands, compared to its average volume of 840,281. The stock has a market capitalization of $5.55 billion, a P/E ratio of 17.00, a P/E/G ratio of 2.49 and a beta of 1.48. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 10.26. Red Rock Resorts has a 12-month low of $42.25 and a 12-month high of $68.99. The business has a fifty day moving average price of $57.42 and a 200-day moving average price of $59.23.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing analysts' consensus estimates 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 quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. Equities analysts anticipate that Red Rock Resorts will post 2.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RRR. Arrowstreet Capital Limited Partnership raised its position in shares of Red Rock Resorts by 2,248.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company's stock worth $82,715,000 after acquiring an additional 1,296,956 shares during the period. Invesco Ltd. raised its position in shares of Red Rock Resorts by 345.6% in the fourth quarter. Invesco Ltd. now owns 1,054,086 shares of the company's stock worth $65,301,000 after acquiring an additional 817,524 shares during the period. Wellington Management Group LLP acquired a new position in shares of Red Rock Resorts in the fourth quarter worth about $45,724,000. State Street Corp raised its position in shares of Red Rock Resorts by 62.1% in the fourth quarter. State Street Corp now owns 1,814,812 shares of the company's stock worth $112,428,000 after acquiring an additional 695,575 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Red Rock Resorts by 6.7% in the third quarter. Vanguard Group Inc. now owns 5,564,421 shares of the company's stock worth $339,764,000 after acquiring an additional 349,822 shares during the period. Institutional investors and hedge funds own 47.84% of the company's stock.

Key Stories Impacting Red Rock Resorts

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

• Positive Sentiment: Company declared a quarterly dividend of $0.26/share (ex‑dividend June 15), supporting income investors and signaling confidence in cash flow.
• Neutral Sentiment: Q1 2026 revenue came in roughly in line with expectations at $507.3M, up 1.9% year‑over‑year — a modest top‑line improvement but not a catalyst for a re‑rating. PR Newswire: Q1 Results
• Neutral Sentiment: Management hosted an earnings call and released supporting materials/slide deck for Q1; useful for investors but no major new guidance changes were highlighted. Slide Deck
• Negative Sentiment: Reported EPS of $0.73 missed the consensus cited by some outlets (~$0.90), which disappointed investors and pressured the stock. MarketBeat: Earnings Recap
• Negative Sentiment: Several sell‑side firms lowered price targets the same day (JPMorgan $73→$66, Citizens JMP $71→$67, Benchmark $67→$63, Truist $70→$68, Wells Fargo $59→$55). Although many kept buy/overweight ratings, the PT cuts reduce near‑term upside expectations and likely contributed to the share decline. Benzinga: Analyst PT Changes

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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