Red Rock Resorts, Inc. (RRR) To Go Ex-Dividend on December 15th

Red Rock Resorts, Inc. (NASDAQ:RRR) declared a quarterly dividend on Tuesday, October 28th. Shareholders of record on Monday, December 15th will be given a dividend of 0.26 per share on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, December 15th. This is a 4.0% increase from Red Rock Resorts’s previous quarterly dividend of $0.25.

Red Rock Resorts has increased its dividend payment by an average of 0.4%per year over the last three years. Red Rock Resorts has a payout ratio of 58.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Red Rock Resorts to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 54.5%.

Red Rock Resorts Trading Down 0.3%

Shares of RRR stock traded down $0.17 on Friday, reaching $60.97. 839,487 shares of the stock were exchanged, compared to its average volume of 705,945. The stock has a market cap of $6.45 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 2.15 and a beta of 1.52. The firm has a 50 day moving average of $57.34 and a two-hundred day moving average of $56.83. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 10.11. Red Rock Resorts has a 1-year low of $35.09 and a 1-year high of $63.60.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.32. The firm had revenue of $475.57 million for the quarter, compared to the consensus estimate of $477.25 million. Red Rock Resorts had a net margin of 9.52% and a return on equity of 59.86%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 EPS. On average, research analysts anticipate that Red Rock Resorts will post 1.76 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on RRR shares. Citigroup began coverage on shares of Red Rock Resorts in a research note on Thursday, November 20th. They set a “buy” rating and a $63.00 target price for the company. Macquarie upped their target price on shares of Red Rock Resorts from $67.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Truist Financial lifted their price target on Red Rock Resorts from $68.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Stifel Nicolaus set a $68.00 price objective on Red Rock Resorts and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, Wells Fargo & Company assumed coverage on shares of Red Rock Resorts in a research note on Tuesday, November 18th. They set an “equal weight” rating and a $58.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $64.42.

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.