Red Rock Resorts (NASDAQ:RRR) Given New $71.00 Price Target at Citizens Jmp

Key Points

• Citizens JMP raised Red Rock Resorts’ price target to $71 from $69 while maintaining a “market outperform” rating, implying 10.66% upside from the prior close. The broader analyst consensus is “Moderate Buy,” with an average target of $71.88.
• Red Rock Resorts reported quarterly EPS of $0.67 and revenue of $510.26 million, beating estimates of $0.51 and $500.08 million, respectively. However, revenue declined 3% year over year and EPS fell from $0.95 in the prior-year quarter.
• Shares recently traded at $64.16, down 0.2%, while institutional investors and hedge funds own 47.84% of the stock. Other analysts remain generally positive, including JPMorgan’s $72 target and UBS’s $75 target, although ratings range from “strong sell” to “overweight.”

Red Rock Resorts (NASDAQ:RRR - Get Free Report) had its price target hoisted by investment analysts at Citizens Jmp from $69.00 to $71.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. Citizens Jmp's price objective points to a potential upside of 10.66% from the stock's previous close.

Several other research firms have also recently issued reports on RRR. Bank of America raised their price objective on Red Rock Resorts from $60.00 to $70.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. UBS Group set a $75.00 price target on Red Rock Resorts in a research note on Thursday, July 2nd. Zacks Research downgraded shares of Red Rock Resorts from a "hold" rating to a "strong sell" rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised their target price on shares of Red Rock Resorts from $66.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Finally, Morgan Stanley set a $61.00 target price on shares of Red Rock Resorts in a report on Wednesday, July 22nd. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $71.88.

Red Rock Resorts Trading Down 0.2%

Shares of NASDAQ:RRR traded down $0.11 during trading on Wednesday, reaching $64.16. The stock had a trading volume of 230,241 shares, compared to its average volume of 811,896. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42. The stock has a market cap of $6.74 billion, a P/E ratio of 20.63, a PEG ratio of 4.82 and a beta of 1.36. The business has a fifty day moving average price of $62.69 and a 200-day moving average price of $59.84. Red Rock Resorts has a fifty-two week low of $50.52 and a fifty-two week high of $68.99.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.16. The firm had revenue of $510.26 million for the quarter, compared to analyst estimates of $500.08 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. Red Rock Resorts's revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 earnings per share. As a group, analysts anticipate that Red Rock Resorts will post 1.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Red Rock Resorts

Hedge funds and other institutional investors have recently modified their holdings of the company. Salomon & Ludwin LLC acquired a new stake 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 fourth quarter valued at approximately $27,000. Rockefeller Capital Management L.P. lifted its position in Red Rock Resorts by 1,924.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company's stock valued at $31,000 after buying an additional 481 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Red Rock Resorts by 98.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company's stock worth $91,000 after buying an additional 733 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in Red Rock Resorts during the second quarter worth approximately $94,000. 47.84% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts News Roundup

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

• Positive Sentiment: Wells Fargo raises price target: Wells Fargo increased its price target for Red Rock Resorts from $75 to $77 and reiterated an “overweight” rating, implying approximately 18% upside from the reference price. Benzinga
• Positive Sentiment: Quarterly earnings beat estimates: Second-quarter 2026 adjusted earnings were $0.67 per share, exceeding the $0.51 consensus estimate. Revenue of $510.3 million also surpassed expectations of approximately $500.1 million. Red Rock Resorts Second Quarter 2026 Results
• Positive Sentiment: Dividend declared: Red Rock Resorts declared a quarterly dividend of $0.26 per share, payable September 30 to shareholders of record as of September 15. The annualized payout is $1.04 per share, representing a yield of approximately 1.6%.
• Neutral Sentiment: Profitability remained solid: The company reported a 9.21% net margin and a 61.67% return on equity for the quarter, providing support for its dividend and valuation despite mixed year-over-year trends. Red Rock Resorts Earnings Report
• Negative Sentiment: Year-over-year performance weakened: Second-quarter revenue declined 3.0% from $526.3 million a year earlier, while earnings fell from $0.95 per share. The results suggest continued pressure on operating momentum even though they beat current estimates. Zacks Red Rock Resorts Q2 Earnings

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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