Red Rock Resorts, Inc. (RRR) to Issue Quarterly Dividend of $0.25 on March 31st

Red Rock Resorts, Inc. (NASDAQ:RRR) declared a quarterly dividend on Tuesday, February 11th, Wall Street Journal reports. Stockholders of record on Monday, March 17th will be given a dividend of 0.25 per share on Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Monday, March 17th.

Red Rock Resorts has a dividend payout ratio of 53.5% meaning 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 Performance

NASDAQ:RRR opened at $45.04 on Friday. Red Rock Resorts has a 1-year low of $42.33 and a 1-year high of $63.29. The firm has a 50 day simple moving average of $48.06 and a 200-day simple moving average of $50.47. The firm has a market cap of $4.78 billion, a PE ratio of 17.94, a P/E/G ratio of 4.32 and a beta of 2.01. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. On average, equities analysts expect that Red Rock Resorts will post 1.76 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Susquehanna boosted their target price on shares of Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a report on Wednesday, February 12th. Jefferies Financial Group reiterated a “hold” rating and set a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Truist Financial decreased their price objective on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Stifel Nicolaus boosted their price objective on shares of Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Finally, JMP Securities decreased their price objective on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research note on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Red Rock Resorts currently has an average rating of “Hold” and an average price target of $57.33.

Red Rock Resorts Company Profile

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.