Zacks Research Cuts Earnings Estimates for Red Rock Resorts

Red Rock Resorts, Inc. (NASDAQ:RRR) – Stock analysts at Zacks Research lowered their Q4 2024 EPS estimates for shares of Red Rock Resorts in a report issued on Wednesday, November 27th. Zacks Research analyst M. Kaushik now anticipates that the company will post earnings per share of $0.39 for the quarter, down from their previous estimate of $0.44. The consensus estimate for Red Rock Resorts’ current full-year earnings is $1.57 per share. Zacks Research also issued estimates for Red Rock Resorts’ Q1 2025 earnings at $0.51 EPS, Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $0.40 EPS, Q4 2025 earnings at $0.44 EPS, FY2025 earnings at $1.78 EPS, Q1 2026 earnings at $0.56 EPS, Q2 2026 earnings at $0.47 EPS, Q3 2026 earnings at $0.44 EPS and FY2026 earnings at $1.95 EPS.

A number of other equities research analysts have also issued reports on RRR. Barclays lowered their target price on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company decreased their price objective on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. Mizuho cut Red Rock Resorts from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $57.00 to $44.00 in a research report on Monday, November 25th. Macquarie reduced their target price on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Truist Financial lowered their price target on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Red Rock Resorts has an average rating of “Moderate Buy” and an average target price of $60.42.

Red Rock Resorts Stock Up 0.5 %

RRR stock opened at $50.09 on Monday. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The company’s 50 day simple moving average is $52.39 and its 200-day simple moving average is $53.60. Red Rock Resorts has a 12 month low of $43.38 and a 12 month high of $63.28. The firm has a market capitalization of $5.29 billion, a PE ratio of 18.55, a P/E/G ratio of 6.21 and a beta of 2.04.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 37.04%.

Institutional Investors Weigh In On Red Rock Resorts

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP lifted its stake in shares of Red Rock Resorts by 479.4% in the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after purchasing an additional 930 shares in the last quarter. US Bancorp DE grew its stake in Red Rock Resorts by 2,223.9% during the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after buying an additional 1,490 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Red Rock Resorts in the second quarter worth $98,000. nVerses Capital LLC purchased a new position in shares of Red Rock Resorts in the 2nd quarter valued at $154,000. Finally, Ritholtz Wealth Management acquired a new position in shares of Red Rock Resorts during the 3rd quarter valued at $215,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

About Red Rock Resorts

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.