Red Rock Resorts (NASDAQ:RRR – Get Free Report) had its price objective boosted by research analysts at Citizens Jmp from $69.00 to $71.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s price objective would indicate a potential upside of 10.66% from the company’s previous close.
A number of other research analysts have also recently commented on RRR. Jefferies Financial Group reissued a “buy” rating on shares of Red Rock Resorts in a research report on Thursday, July 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Red Rock Resorts from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Benchmark upped their price objective on shares of Red Rock Resorts from $63.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. UBS Group set a $75.00 target price on Red Rock Resorts in a research note on Thursday, July 2nd. Finally, Susquehanna cut their price target on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, April 30th. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Red Rock Resorts presently has a consensus rating of “Moderate Buy” and an average target price of $71.88.
Read Our Latest Stock Analysis on RRR
Red Rock Resorts Stock Down 0.2%
Red Rock Resorts (NASDAQ:RRR – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.67 EPS for the quarter, topping the consensus estimate 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 return on equity of 61.67% and a net margin of 9.21%.Red Rock Resorts’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. On average, equities analysts anticipate that Red Rock Resorts will post 1.52 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in RRR. Valeo Financial Advisors LLC increased its position in shares of Red Rock Resorts by 4.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 5,201 shares of the company’s stock worth $338,000 after purchasing an additional 234 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Red Rock Resorts by 3.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,383 shares of the company’s stock worth $643,000 after purchasing an additional 324 shares during the last quarter. California State Teachers Retirement System grew its stake in Red Rock Resorts by 0.7% in the second quarter. California State Teachers Retirement System now owns 46,720 shares of the company’s stock worth $2,431,000 after purchasing an additional 343 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Red Rock Resorts by 3.9% in the third quarter. CANADA LIFE ASSURANCE Co now owns 10,022 shares of the company’s stock valued at $628,000 after buying an additional 378 shares during the last quarter. Finally, Osaic Holdings Inc. increased its holdings in Red Rock Resorts by 14.8% in the second quarter. Osaic Holdings Inc. now owns 2,996 shares of the company’s stock valued at $149,000 after buying an additional 387 shares during the last quarter. 47.84% of the stock is owned by institutional investors and hedge funds.
Key Stories Impacting Red Rock Resorts
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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