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Red Rock Resorts, Inc. Plans Quarterly Dividend of $0.25 (NASDAQ:RRR)

Red Rock Resorts logo with Consumer Discretionary background

Key Points

  • Red Rock Resorts, Inc. announced a quarterly dividend of $0.25 per share, with shareholders of record set to receive it on September 30th, representing an annualized dividend of $1.00 and a yield of 1.67%.
  • The company reported an earnings per share (EPS) of $0.95 for the latest quarter, significantly surpassing the consensus estimate of $0.40, and recorded a revenue of $526.27 million, exceeding expectations.
  • Analysts have a consensus rating of "Moderate Buy" for Red Rock Resorts, with several raising their price targets following the positive earnings report.
  • Five stocks to consider instead of Red Rock Resorts.

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) announced a quarterly dividend on Wednesday, July 30th, Wall Street Journal reports. Investors of record on Monday, September 15th will be paid a dividend of 0.25 per share on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, September 15th.

Red Rock Resorts has a payout ratio of 56.5% meaning 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 2.3%

NASDAQ:RRR traded down $1.39 during trading hours on Friday, reaching $59.96. The company's stock had a trading volume of 498,706 shares, compared to its average volume of 706,085. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 3.92 and a beta of 1.62. Red Rock Resorts has a one year low of $35.09 and a one year high of $62.00. The business's 50-day moving average is $52.38 and its 200-day moving average is $47.96. The company has a debt-to-equity ratio of 9.04, a current ratio of 0.92 and a quick ratio of 0.87.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.55. Red Rock Resorts had a net margin of 8.89% and a return on equity of 59.56%. The business had revenue of $526.27 million during the quarter, compared to analysts' expectations of $485.44 million. During the same period in the previous year, the company earned $0.59 earnings per share. Red Rock Resorts's revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts predict that Red Rock Resorts will post 1.76 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RRR. Raymond James Financial Inc. bought a new position in Red Rock Resorts in the fourth quarter valued at approximately $292,000. Commonwealth Equity Services LLC grew its position in shares of Red Rock Resorts by 184.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,509 shares of the company's stock valued at $578,000 after acquiring an additional 8,107 shares during the period. American Century Companies Inc. increased its holdings in shares of Red Rock Resorts by 11.7% in the fourth quarter. American Century Companies Inc. now owns 34,530 shares of the company's stock valued at $1,597,000 after purchasing an additional 3,623 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Red Rock Resorts by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 5,181,146 shares of the company's stock valued at $239,576,000 after purchasing an additional 50,193 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Red Rock Resorts by 5.7% in the fourth quarter. JPMorgan Chase & Co. now owns 94,255 shares of the company's stock valued at $4,358,000 after purchasing an additional 5,058 shares during the last quarter. Institutional investors own 47.84% of the company's stock.

Red Rock Resorts Company Profile

(Get Free Report)

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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Dividend History for Red Rock Resorts (NASDAQ:RRR)

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