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

Red Rock Resorts, Inc. (NASDAQ:RRR) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Monday, December 16th will be given a dividend of 0.25 per share on Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Monday, December 16th.

Red Rock Resorts has increased its dividend payment by an average of 115.4% annually over the last three years. Red Rock Resorts has a dividend payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Red Rock Resorts to earn $1.99 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 50.3%.

Red Rock Resorts Price Performance

NASDAQ RRR traded down $2.39 during trading on Friday, hitting $53.27. 2,809,556 shares of the stock traded hands, compared to its average volume of 475,884. The company has a market capitalization of $5.63 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 5.96 and a beta of 2.04. Red Rock Resorts has a 12-month low of $40.22 and a 12-month high of $63.28. The firm has a 50-day simple moving average of $53.71 and a 200-day simple moving average of $53.96. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 15.15.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RRR. Stifel Nicolaus raised their price target on Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Morgan Stanley lifted their target price on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Macquarie decreased their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research report on Friday. Truist Financial decreased their target price on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company decreased their target price on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.25.

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.