Red Rock Resorts, Inc. to Issue Annual Dividend of $1.00 (NASDAQ:RRR)

Red Rock Resorts, Inc. (NASDAQ:RRR) announced an annual dividend on Thursday, May 1st, NASDAQ Dividends reports. Investors of record on Wednesday, May 14th will be given a dividend of 1.00 per share on Wednesday, May 21st. This represents a dividend yield of 2.29%. The ex-dividend date of this dividend is Wednesday, May 14th.

Red Rock Resorts has a payout ratio of 56.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Red Rock Resorts to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 52.4%.

Red Rock Resorts Stock Up 0.5%

Shares of NASDAQ RRR opened at $44.40 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 stock has a market capitalization of $4.71 billion, a PE ratio of 17.69, a P/E/G ratio of 4.32 and a beta of 1.64. Red Rock Resorts has a one year low of $35.09 and a one year high of $61.73. The business’s fifty day moving average price is $42.79 and its 200-day moving average price is $46.98.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.33. The business had revenue of $497.86 million for the quarter, compared to analysts’ expectations of $499.12 million. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 EPS. On average, equities research analysts anticipate that Red Rock Resorts will post 1.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RRR shares. Macquarie reaffirmed an “outperform” rating and issued a $58.00 price target on shares of Red Rock Resorts in a report on Friday, May 2nd. Stifel Nicolaus dropped their price objective on Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating on the stock in a report on Friday, May 2nd. Mizuho reduced their target price on Red Rock Resorts from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Barclays decreased their price target on Red Rock Resorts from $58.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Susquehanna lowered their price target on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Red Rock Resorts presently has an average rating of “Hold” and an average price target of $52.83.

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.