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

Red Rock Resorts, Inc. (NASDAQ:RRR) announced a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.25 per share on Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a 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 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

RRR stock opened at $51.57 on Thursday. The stock’s 50 day simple moving average is $47.34 and its 200 day simple moving average is $51.35. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 12-month low of $42.46 and a 12-month high of $63.28. The stock has a market capitalization of $5.45 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 5.28 and a beta of 2.02.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 73.20% and a net margin of 8.59%. As a group, research analysts forecast that Red Rock Resorts will post 1.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RRR. Macquarie lowered their price objective on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company lowered their price target on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Truist Financial cut their price objective 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. Jefferies Financial Group reiterated a “hold” rating and set a $51.00 price objective (down previously from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Finally, Susquehanna boosted their price target on 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 company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.