Red Rock Resorts, Inc. (RRR) to Issue Quarterly Dividend of $0.25 on September 30th

Red Rock Resorts, Inc. (NASDAQ:RRR) announced a quarterly dividend on Tuesday, July 23rd, Zacks reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.25 per share on Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Monday, September 16th.

Red Rock Resorts has raised its dividend payment by an average of 115.4% per year over the last three years. Red Rock Resorts has a dividend payout ratio of 36.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Red Rock Resorts to earn $2.11 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 47.4%.

Red Rock Resorts Stock Up 0.8 %

Red Rock Resorts stock opened at $56.76 on Thursday. Red Rock Resorts has a fifty-two week low of $37.82 and a fifty-two week high of $63.28. The company has a debt-to-equity ratio of 18.49, a quick ratio of 0.85 and a current ratio of 0.90. The company has a market capitalization of $5.99 billion, a P/E ratio of 19.56, a PEG ratio of 2.89 and a beta of 2.04. The stock has a 50-day simple moving average of $53.49 and a 200-day simple moving average of $55.24.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.16. The firm had revenue of $486.40 million for the quarter, compared to analysts’ expectations of $475.80 million. Red Rock Resorts had a return on equity of 87.05% and a net margin of 9.21%. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. Equities research analysts expect that Red Rock Resorts will post 1.83 earnings per share for the current year.

Insider Transactions at Red Rock Resorts

In other news, CEO Frank J. Fertitta III sold 800,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $50.39, for a total transaction of $40,312,000.00. Following the sale, the chief executive officer now owns 45,847,301 shares of the company’s stock, valued at approximately $2,310,245,497.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 53.28% of the company’s stock.

Analysts Set New Price Targets

RRR has been the topic of several recent research reports. Susquehanna boosted their price target on Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research report on Wednesday. Mizuho dropped their target price on Red Rock Resorts from $69.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Bank of America upgraded Red Rock Resorts from an “underperform” rating to a “neutral” rating and dropped their target price for the stock from $57.00 to $55.00 in a research report on Monday, May 13th. JPMorgan Chase & Co. boosted their target price on Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, JMP Securities dropped their target price on Red Rock Resorts from $66.00 to $65.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 8th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Red Rock Resorts has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.

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.