Red Rock Resorts, Inc. (RRR) to Issue Quarterly Dividend of $0.25 on December 31st

Red Rock Resorts, Inc. (NASDAQ:RRR) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Monday, December 16th will be paid a dividend of 0.25 per share on Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 1.88%. The ex-dividend date is Monday, December 16th.

Red Rock Resorts has raised its dividend payment by an average of 115.4% per year over the last three years. Red Rock Resorts has a dividend payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Red Rock Resorts to earn $1.99 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 50.3%.

Red Rock Resorts Price Performance

NASDAQ RRR traded down $2.39 during trading on Friday, hitting $53.27. 2,809,556 shares of the company’s stock were exchanged, compared to its average volume of 475,884. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 15.15. The company has a market cap of $5.63 billion, a PE ratio of 18.89, a P/E/G ratio of 5.96 and a beta of 2.04. Red Rock Resorts has a fifty-two week low of $40.22 and a fifty-two week high of $63.28. The stock’s 50 day moving average price is $53.71 and its two-hundred day moving average price is $53.96.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $65.00 target price on shares of Red Rock Resorts in a report on Monday, October 14th. Truist Financial decreased their price objective on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Macquarie reduced their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Friday. Morgan Stanley lifted their target price on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. boosted their price objective on Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.25.

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.