Red Rock Resorts, Inc. (RRR) To Go Ex-Dividend on March 17th

Red Rock Resorts, Inc. (NASDAQ:RRR) declared 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 1.92%. The ex-dividend date of this dividend is Monday, March 17th.

Red Rock Resorts has a payout ratio of 51.0% meaning its dividend is sufficiently covered by earnings. 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 Up 1.0 %

NASDAQ RRR opened at $52.10 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 52 week low of $42.46 and a 52 week high of $63.28. The business’s fifty day simple moving average is $47.37 and its 200-day simple moving average is $51.35. The firm has a market cap of $5.50 billion, a PE ratio of 19.30, a P/E/G ratio of 5.28 and a beta of 2.02.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on RRR. JMP Securities cut their price objective on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Truist Financial cut their target price on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. Macquarie cut their price objective on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Susquehanna lifted their target price on Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a research report on Wednesday. Finally, Stifel Nicolaus upped their target price on shares of Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Red Rock Resorts currently has a consensus 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.