Red Rock Resorts Analysts Cut Their Forecasts After Q1 Results
Portfolio Pulse from Avi Kapoor
Red Rock Resorts, Inc. (NASDAQ:RRR) reported Q1 sales and earnings that fell short of market expectations, leading to a 4.3% drop in its share price. Adjusted EBITDA increased by 7.7% year-over-year. Analysts from Mizuho and Stifel revised their price targets downwards following the earnings announcement.
May 08, 2024 | 1:33 pm
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NEGATIVE IMPACT
Red Rock Resorts reported lower-than-expected Q1 earnings and sales, leading to a 4.3% decline in its stock price. Analysts from Mizuho and Stifel lowered their price targets.
The direct impact on RRR's stock price following the earnings miss and subsequent analyst downgrades indicates a negative short-term outlook. The adjustments in price targets by Mizuho and Stifel reflect revised market expectations, further influencing investor sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100