Red Rock Resorts, Inc. (RRR) to Issue Annual Dividend of $1.00 on May 21st

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 given a dividend of 1.00 per share on Wednesday, May 21st. This represents a yield of 2.29%. The ex-dividend date of this dividend is Wednesday, May 14th.

Red Rock Resorts has a payout ratio of 56.5% 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 Price Performance

Shares of RRR opened at $44.40 on Monday. The firm has a fifty day simple moving average of $42.79 and a two-hundred day simple moving average of $46.98. Red Rock Resorts has a 1-year low of $35.09 and a 1-year high of $61.73. 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 PE ratio of 17.69, a P/E/G ratio of 4.32 and a beta of 1.64.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RRR. JMP Securities decreased their target price on Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 17th. Stifel Nicolaus decreased their price target on shares of Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating on the stock in a research note on Friday, May 2nd. Truist Financial lowered their price objective on shares of Red Rock Resorts from $56.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley reduced their target price 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. Finally, Mizuho lowered their price target on shares of Red Rock Resorts from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Red Rock Resorts currently has an average rating of “Hold” and an average 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.