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Red Rock Resorts Analysts Cut Their Forecasts After Q1 Results

Red Rock Resorts, Inc. (NASDAQ:RRR) posted weaker-than-expected sales for its first quarter on Tuesday. Red Rock Resorts posted…
byAvi Kapoor
May 8, 2024
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Red Rock Resorts, Inc. (NASDAQ:RRR) posted weaker-than-expected sales for its first quarter on Tuesday.

Red Rock Resorts posted GAAP earnings of 68 cents per share, versus market estimates of 69 cents per share. The company posted quarterly sales of $488.900 million, missing expectations of $489.641 million, according to data from Benzinga Pro.

Adjusted EBITDA rose 7.7% year-over-year to $209.1 million for the first quarter.

Red Rock Resorts shares fell 4.3% to trade at $52.05 on Wednesday.

These analysts made changes to their price targets on Red Rock Resorts following earnings announcement.

  • Mizuho cut the price target on Red Rock Resorts from $69 to $66. Mizuho analyst Ben Chaiken maintained a Buy rating.
  • Stifel slashed the price target on Red Rock Resorts from $61 to $59. Stifel analyst Steve Wieczynski maintained a Hold rating.

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