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

Red Rock Resorts, Inc. (NASDAQ:RRR) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Friday, June 14th will be given a dividend of 0.25 per share on Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, June 14th.

Red Rock Resorts has raised its dividend payment by an average of 115.4% annually over the last three years. Red Rock Resorts has a payout ratio of 33.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Red Rock Resorts to earn $2.14 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 46.7%.

Red Rock Resorts Trading Up 1.9 %

Shares of NASDAQ RRR traded up $0.95 during trading hours on Thursday, reaching $51.17. The stock had a trading volume of 384,040 shares, compared to its average volume of 442,728. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 2.81 and a beta of 2.08. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 13.54. Red Rock Resorts has a 52-week low of $37.82 and a 52-week high of $63.28. The business’s fifty day moving average price is $57.69 and its two-hundred day moving average price is $52.50.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.50 by $0.18. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The firm had revenue of $488.90 million during the quarter, compared to analyst estimates of $490.49 million. During the same period last year, the firm posted $0.75 EPS. Red Rock Resorts’s revenue was up 12.7% on a year-over-year basis. Analysts expect that Red Rock Resorts will post 1.92 EPS for the current fiscal year.

Insider Activity at Red Rock Resorts

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.74, for a total transaction of $434,204.80. Following the completion of the transaction, the chief financial officer now owns 243,808 shares in the company, valued at $14,077,473.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 53.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Bank of America raised their price objective on Red Rock Resorts from $52.00 to $57.00 and gave the company a “buy” rating in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft increased their price target on Red Rock Resorts from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Truist Financial upped their target price on shares of Red Rock Resorts from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Stifel Nicolaus reduced their target price on shares of Red Rock Resorts from $61.00 to $59.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company cut their target price on Red Rock Resorts from $66.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.75.

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.