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

Red Rock Resorts, Inc. (NASDAQ:RRR) declared a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Stockholders of record on Monday, March 17th will be paid a dividend of 0.25 per share on Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Monday, March 17th.

Red Rock Resorts has a payout ratio of 51.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Red Rock Resorts to earn $1.78 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 56.2%.

Red Rock Resorts Stock Performance

Shares of Red Rock Resorts stock traded up $0.65 on Wednesday, reaching $51.57. 1,218,643 shares of the stock were exchanged, compared to its average volume of 665,243. The business has a 50 day moving average price of $47.30 and a two-hundred day moving average price of $51.35. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 5.28 and a beta of 2.02. Red Rock Resorts has a twelve month low of $42.46 and a twelve month high of $63.28. 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 (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a net margin of 8.59% and a return on equity of 73.20%. Analysts anticipate that Red Rock Resorts will post 1.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RRR. Barclays cut their price target on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Macquarie dropped their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Truist Financial decreased their price target on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Stifel Nicolaus raised their price objective on shares of Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Susquehanna boosted their target price on shares of Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $57.33.

About Red Rock Resorts

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.