Red Rock Resorts, Inc. (NASDAQ:RRR) Declares $1.00 Annual Dividend

Red Rock Resorts, Inc. (NASDAQ:RRR) announced an annual dividend on Thursday, May 1st, NASDAQ Dividends reports. Shareholders of record on Wednesday, May 14th will be paid a dividend of 1.00 per share on Wednesday, May 21st. This represents a yield of 2.29%. The ex-dividend date is Wednesday, May 14th.

Red Rock Resorts has a dividend payout ratio of 56.5% 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 $1.00 annual dividend with an expected future payout ratio of 52.4%.

Red Rock Resorts Stock Performance

Red Rock Resorts stock opened at $44.40 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The firm has a market cap of $4.71 billion, a P/E ratio of 17.69, a P/E/G ratio of 4.32 and a beta of 1.64. Red Rock Resorts has a 1-year low of $35.09 and a 1-year high of $61.73. The firm has a 50-day moving average of $42.79 and a 200-day moving average of $46.98.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.33. The business had revenue of $497.86 million during the quarter, compared to analyst estimates of $499.12 million. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. Red Rock Resorts’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 EPS. Sell-side analysts expect that Red Rock Resorts will post 1.76 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RRR. Morgan Stanley cut their price target on shares of Red Rock Resorts from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. JMP Securities dropped their target price on shares of Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating for the company in a research report on Thursday, April 17th. Truist Financial reduced their price target on shares of Red Rock Resorts from $56.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. Stifel Nicolaus lowered their price objective on shares of Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating for the company in a report on Friday, May 2nd. Finally, Mizuho reduced their target price on Red Rock Resorts from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $52.83.

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.