Red Rock Resorts, Inc. (RRR) to Issue Quarterly Dividend of $0.25 on June 28th

Red Rock Resorts, Inc. (NASDAQ:RRR) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Friday, June 14th will be paid a dividend of 0.25 per share on Friday, June 28th. This represents a $1.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, June 14th.

Red Rock Resorts has raised its dividend by an average of 115.4% annually over the last three years. Red Rock Resorts has a dividend payout ratio of 33.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 1.1 %

RRR stock traded up $0.54 during trading on Thursday, reaching $50.76. 457,794 shares of the stock were exchanged, compared to its average volume of 443,748. 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 twelve month low of $37.82 and a twelve month high of $63.28. The firm’s 50 day moving average is $57.69 and its 200 day moving average is $52.50. The firm has a market cap of $5.34 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 2.81 and a beta of 2.08.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, May 7th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.18. The firm had revenue of $488.90 million for the quarter, compared to the consensus estimate of $490.49 million. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. As a group, research analysts forecast that Red Rock Resorts will post 1.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Susquehanna increased their price objective on Red Rock Resorts from $52.00 to $66.00 and gave the company a “positive” rating in a report on Thursday, February 8th. Macquarie upgraded shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $51.00 to $58.00 in a research report on Wednesday, January 17th. Barclays decreased their price objective on shares of Red Rock Resorts from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday. Morgan Stanley increased their target price on Red Rock Resorts from $51.00 to $53.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Bank of America increased their price target on shares of Red Rock Resorts from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Four research 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, Red Rock Resorts presently has a consensus rating of “Moderate Buy” and an average price target of $61.75.

Insider Activity at Red Rock Resorts

In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total transaction of $434,204.80. Following the transaction, the chief financial officer now directly owns 243,808 shares of the company’s stock, valued at $14,077,473.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 53.28% of the stock is currently owned by insiders.

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.