Red Rock Resorts, Inc. (RRR) to Issue Special Dividend of $1.00 on February 27th

Red Rock Resorts, Inc. (NASDAQ:RRR) declared a special dividend on Tuesday, February 10th. Shareholders of record on Friday, February 20th will be given a dividend of 1.00 per share on Friday, February 27th. The ex-dividend date is Friday, February 20th.

Red Rock Resorts has raised its dividend by an average of 0.4%annually over the last three years. Red Rock Resorts has a payout ratio of 58.8% indicating that 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 RRR stock opened at $64.87 on Thursday. Red Rock Resorts has a twelve month low of $35.09 and a twelve month high of $68.99. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 10.11. The stock has a fifty day simple moving average of $62.05 and a two-hundred day simple moving average of $60.05. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 2.84 and a beta of 1.49.

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. Red Rock Resorts had a return on equity of 58.12% and a net margin of 9.35%.The firm had revenue of $511.78 million during the quarter, compared to the consensus estimate of $500.90 million. During the same period in the previous year, the company posted $0.76 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. On average, analysts predict that Red Rock Resorts will post 1.76 EPS for the current fiscal year.

Red Rock Resorts announced that its board has approved a stock repurchase plan on Tuesday, October 28th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 4.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.