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

Red Rock Resorts (NASDAQ:RRR) had its price objective cut by equities researchers at Truist Financial from $70.00 to $68.00 in a note issued to investors on Thursday, Marketbeat reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 28.84% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Citizens Jmp increased their target price on Red Rock Resorts from $65.00 to $68.00 and gave the company a “market outperform” rating in a report on Wednesday, January 14th. Weiss Ratings cut Red Rock Resorts from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, April 17th. Mizuho set a $77.00 target price on Red Rock Resorts in a report on Wednesday, February 11th. Jefferies Financial Group lowered their price target on 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. Finally, Barclays upped their price target on Red Rock Resorts from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.93.

Red Rock Resorts Trading Down 2.2%

Shares of RRR stock opened at $52.78 on Thursday. The stock has a market capitalization of $5.54 billion, a PE ratio of 16.97, a P/E/G ratio of 2.40 and a beta of 1.48. Red Rock Resorts has a 1-year low of $42.25 and a 1-year high of $68.99. The business has a 50-day moving average of $57.42 and a 200 day moving average of $59.23. The company has a debt-to-equity ratio of 10.26, a current ratio of 0.79 and a quick ratio of 0.74.

Red Rock Resorts (NASDAQ:RRR) last issued 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%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. As a group, sell-side analysts anticipate that Red Rock Resorts will post 2.12 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Salomon & Ludwin LLC bought a new position in Red Rock Resorts during the 4th quarter valued at approximately $25,000. Kestra Advisory Services LLC bought a new position in shares of Red Rock Resorts in the 4th quarter worth approximately $27,000. Rockefeller Capital Management L.P. raised its position in shares of Red Rock Resorts by 1,924.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock worth $31,000 after acquiring an additional 481 shares in the last quarter. Strs Ohio bought a new position in shares of Red Rock Resorts in the 3rd quarter worth approximately $37,000. Finally, GAMMA Investing LLC raised its position in shares of Red Rock Resorts by 53.8% in the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after acquiring an additional 263 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

Key Red Rock Resorts News

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.