Red Rock Resorts, Inc., through its interest in Station Holdco and Station LLC, develops and operates casino and entertainment properties in the United States. It operates through two segments, Las Vegas Operations and Native American Management. The company owns and operates 9 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market. In addition, it manages Graton Resort & Casino in northern California. As of December 31, 2021, it operated approximately 13,894 slot machines, 240 table games, and 3,081 hotel rooms in the Las Vegas market. The company was formerly known as Station Casinos Corp. and changed its name to Red Rock Resorts, Inc. in January 2016. Red Rock Resorts, Inc. was incorporated in 1976 and is based in Las Vegas, Nevada.
Red Rock Resorts Trading Up 2.5 %
Red Rock Resorts stock traded up $1.01 during trading hours on Thursday, reaching $41.58. 552,102 shares of the company's stock were exchanged, compared to its average volume of 671,994. The firm's 50 day simple moving average is $36.25 and its 200 day simple moving average is $41.88. Red Rock Resorts has a twelve month low of $30.98 and a twelve month high of $58.74. The company has a quick ratio of 1.93, a current ratio of 1.98 and a debt-to-equity ratio of 29.17. The firm has a market capitalization of $4.47 billion, a PE ratio of 12.95 and a beta of 2.27.
Red Rock Resorts (NASDAQ:RRR - Get Rating) last released its earnings results on Tuesday, August 9th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.42). Red Rock Resorts had a return on equity of 105.90% and a net margin of 17.10%. The business had revenue of $422.20 million for the quarter, compared to analyst estimates of $404.39 million. During the same period in the prior year, the business earned $1.12 EPS. The company's revenue for the quarter was down 1.4% on a year-over-year basis. Research analysts predict that Red Rock Resorts will post 2 earnings per share for the current year.
Red Rock Resorts Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.41%. Red Rock Resorts's dividend payout ratio is currently 30.67%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Red Rock Resorts from $56.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, July 14th. Loop Capital initiated coverage on shares of Red Rock Resorts in a research note on Monday, July 11th. They issued a "hold" rating and a $36.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their target price on Red Rock Resorts from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday. Truist Financial cut their target price on Red Rock Resorts from $65.00 to $45.00 and set a "buy" rating on the stock in a report on Wednesday, July 20th. Finally, KeyCorp set a $45.00 price target on Red Rock Resorts in a research note on Tuesday, July 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Red Rock Resorts presently has a consensus rating of "Hold" and an average target price of $47.38.