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

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) 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 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. 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 Trading Up 0.5%

NASDAQ RRR opened at $44.40 on Monday. 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's fifty day moving average price is $42.79 and its 200 day moving average price is $46.98. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 4.32 and a beta of 1.64. Red Rock Resorts has a 12 month low of $35.09 and a 12 month high of $61.73.

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

Analyst Ratings Changes

RRR has been the subject of several recent research reports. Truist Financial dropped their target price on shares of 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 lowered their price target on shares of Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus lowered their price target 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. Morgan Stanley lowered their price target on shares of Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Macquarie reiterated an "outperform" rating and set a $58.00 price target on shares of Red Rock Resorts in a report on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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.

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