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

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 given a dividend of 0.25 per share on Monday, March 31st. This represents a $1.00 annualized dividend 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 Trading Up 1.3 %

Shares of Red Rock Resorts stock opened at $51.57 on Thursday. The stock has a market capitalization of $5.45 billion, a P/E ratio of 19.10, a P/E/G ratio of 5.28 and a beta of 2.02. Red Rock Resorts has a 52-week low of $42.46 and a 52-week high of $63.28. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The stock’s 50-day simple moving average is $47.34 and its 200 day simple moving average is $51.35.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 anticipate that Red Rock Resorts will post 1.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Jefferies Financial Group restated a “hold” rating and set a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Barclays dropped their target price on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Susquehanna lifted their price target on Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a research note on Wednesday. Stifel Nicolaus increased their price objective on Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Wells Fargo & Company cut their target price on shares of 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. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Red Rock Resorts presently has a consensus 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.