Red Rock Resorts, Inc. (NASDAQ:RRR) to Issue Annual Dividend of $1.00

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

Red Rock Resorts has a payout ratio of 56.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 0.1%

Shares of NASDAQ RRR traded down $0.05 during trading hours on Friday, hitting $47.10. The company had a trading volume of 486,947 shares, compared to its average volume of 570,741. The stock has a market capitalization of $4.99 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 4.32 and a beta of 1.64. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 1-year low of $35.09 and a 1-year high of $61.73. The firm's 50 day moving average is $42.92 and its 200-day moving average is $46.85.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in shares of Red Rock Resorts by 56.2% in the first quarter. Millennium Management LLC now owns 430,150 shares of the company's stock worth $18,656,000 after purchasing an additional 154,839 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Red Rock Resorts by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,272 shares of the company's stock worth $1,270,000 after purchasing an additional 1,282 shares during the period. Finally, AQR Capital Management LLC bought a new position in shares of Red Rock Resorts in the first quarter worth $308,000. Institutional investors own 47.84% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on RRR. Truist Financial cut their price target on Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Barclays cut their price target on Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Susquehanna cut their price target on Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating for the company in a report on Wednesday, April 16th. Mizuho cut their price target on Red Rock Resorts from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, JMP Securities cut their price target on Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating for the company in a report on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $52.64.

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.