Red Rock Resorts, Inc. (NASDAQ:RRR) Declares $0.25 Quarterly Dividend

Red Rock Resorts, Inc. (NASDAQ:RRR) announced a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 1.94%. The ex-dividend date is Monday, March 17th.

Red Rock Resorts has a payout ratio of 51.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Red Rock Resorts to earn $1.78 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 56.2%.

Red Rock Resorts Trading Up 1.3 %

Shares of NASDAQ:RRR traded up $0.65 during trading on Wednesday, reaching $51.57. 1,218,643 shares of the company were exchanged, compared to its average volume of 665,243. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market capitalization of $5.45 billion, a PE ratio of 19.10, a P/E/G ratio of 5.28 and a beta of 2.02. The business’s fifty day simple moving average is $47.30 and its 200-day simple moving average is $51.35. Red Rock Resorts has a 12-month low of $42.46 and a 12-month high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 73.20% and a net margin of 8.59%. On average, research analysts anticipate that Red Rock Resorts will post 1.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RRR. Jefferies Financial Group reaffirmed a “hold” rating and issued a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Wells Fargo & Company lowered their price target on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Mizuho lifted their price objective on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday. Truist Financial reduced 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. Finally, Susquehanna increased their target price on Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Red Rock Resorts presently has an average rating of “Hold” and a consensus 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.