Red Rock Resorts Inc to Issue Quarterly Dividend of $0.10 (RRR)

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Red Rock Resorts Inc (NASDAQ:RRR) declared a quarterly dividend on Friday, November 2nd, NASDAQ reports. Investors of record on Friday, December 14th will be paid a dividend of 0.10 per share on Tuesday, January 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Thursday, December 13th.

Red Rock Resorts has a dividend payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Red Rock Resorts to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 29.0%.

Shares of NASDAQ:RRR traded down $1.06 during mid-day trading on Friday, reaching $23.20. 677,136 shares of the company traded hands, compared to its average volume of 761,492. The company has a market cap of $2.83 billion, a PE ratio of 37.42 and a beta of 1.70. The company has a current ratio of 0.72, a quick ratio of 0.68 and a debt-to-equity ratio of 3.29. Red Rock Resorts has a 52 week low of $21.20 and a 52 week high of $36.99.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Wednesday, November 7th. The company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.04). Red Rock Resorts had a return on equity of 12.27% and a net margin of 10.84%. The business had revenue of $412.30 million during the quarter, compared to the consensus estimate of $409.03 million. During the same quarter in the previous year, the company earned $0.16 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts predict that Red Rock Resorts will post 1.13 earnings per share for the current fiscal year.

Several research firms have weighed in on RRR. BidaskClub upgraded Red Rock Resorts from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. SunTrust Banks restated a “buy” rating and issued a $38.00 price target on shares of Red Rock Resorts in a research note on Thursday, August 16th. TheStreet downgraded Red Rock Resorts from a “b-” rating to a “c” rating in a research note on Monday, September 24th. ValuEngine downgraded Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Finally, Zacks Investment Research downgraded Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Friday, October 5th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Red Rock Resorts presently has a consensus rating of “Hold” and an average target price of $35.71.

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Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

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Dividend History for Red Rock Resorts (NASDAQ:RRR)

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