Red Rock Resorts, Inc. (RRR) to Issue Quarterly Dividend of $0.26 on June 30th

Red Rock Resorts, Inc. (NASDAQ:RRR) declared a quarterly dividend on Wednesday, April 29th. Stockholders of record on Monday, June 15th will be paid a dividend of 0.26 per share on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, June 15th.

Red Rock Resorts has raised its dividend payment by an average of 0.8%per year 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 analysts expect Red Rock Resorts to earn $1.88 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 55.3%.

Red Rock Resorts Price Performance

NASDAQ:RRR opened at $63.11 on Friday. Red Rock Resorts has a 52 week low of $47.56 and a 52 week high of $68.99. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 4.72 and a beta of 1.36. The firm’s 50-day simple moving average is $55.80 and its 200 day simple moving average is $59.00. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Wednesday, April 29th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.17). Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The firm had revenue of $507.32 million during the quarter, compared to the consensus estimate of $505.63 million. During the same period in the prior year, the business earned $0.75 earnings per share. Red Rock Resorts’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts predict that Red Rock Resorts will post 1.53 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on RRR. Morgan Stanley set a $59.00 target price on shares of Red Rock Resorts in a report on Wednesday, May 6th. Truist Financial decreased their target price on shares of Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Susquehanna decreased their target price on shares of Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, April 30th. Zacks Research lowered shares of Red Rock Resorts from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Red Rock Resorts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Twelve equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Red Rock Resorts currently has a consensus rating of “Moderate Buy” and an average price target of $67.53.

Red Rock Resorts Company Profile

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.