Red Rock Resorts, Inc. (RRR) to Issue Quarterly Dividend of $0.26 on March 31st

Red Rock Resorts, Inc. (NASDAQ:RRR) announced a quarterly dividend on Tuesday, February 10th. Stockholders of record on Monday, March 16th will be given a dividend of 0.26 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, March 16th.

Red Rock Resorts has increased its dividend by an average of 0.4%per year over the last three years. Red Rock Resorts has a dividend payout ratio of 58.8% meaning its dividend is sufficiently covered by earnings. Equities 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 $1.04 annual dividend with an expected future payout ratio of 54.5%.

Red Rock Resorts Price Performance

Shares of NASDAQ:RRR opened at $64.87 on Thursday. The business’s 50 day simple moving average is $62.05 and its 200-day simple moving average is $60.05. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 2.84 and a beta of 1.49. The company has a debt-to-equity ratio of 10.11, a current ratio of 0.75 and a quick ratio of 0.70. Red Rock Resorts has a 12 month low of $35.09 and a 12 month high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.34. The firm had revenue of $511.78 million during the quarter, compared to the consensus estimate of $500.90 million. Red Rock Resorts had a return on equity of 58.12% and a net margin of 9.35%.Red Rock Resorts’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the business posted $0.76 EPS. As a group, equities analysts forecast that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Red Rock Resorts

Several hedge funds have recently modified their holdings of RRR. Inceptionr LLC grew its holdings in Red Rock Resorts by 45.1% in the fourth quarter. Inceptionr LLC now owns 12,784 shares of the company’s stock valued at $792,000 after purchasing an additional 3,973 shares during the period. Illinois Municipal Retirement Fund acquired a new position in shares of Red Rock Resorts in the 4th quarter valued at $1,647,000. Deutsche Bank AG grew its stake in shares of Red Rock Resorts by 2.1% during the 4th quarter. Deutsche Bank AG now owns 74,420 shares of the company’s stock valued at $4,610,000 after buying an additional 1,509 shares during the period. Vestcor Inc purchased a new stake in shares of Red Rock Resorts during the 4th quarter valued at $115,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Red Rock Resorts by 54.8% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 125,800 shares of the company’s stock worth $7,793,000 after buying an additional 44,546 shares during the last quarter. 47.84% of the stock is owned by institutional investors and hedge funds.

About Red Rock Resorts

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.