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

Red Rock Resorts, Inc. (NASDAQ:RRR) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Monday, December 16th will be given a dividend of 0.25 per share on Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Monday, December 16th.

Red Rock Resorts has raised its dividend payment by an average of 115.4% annually over the last three years. Red Rock Resorts has a payout ratio of 56.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Red Rock Resorts to earn $1.79 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 55.9%.

Red Rock Resorts Stock Down 0.9 %

Red Rock Resorts stock opened at $49.49 on Friday. Red Rock Resorts has a fifty-two week low of $47.18 and a fifty-two week high of $63.28. The firm has a market capitalization of $5.23 billion, a PE ratio of 18.33, a P/E/G ratio of 6.72 and a beta of 2.00. The company’s 50-day moving average is $51.51 and its 200-day moving average is $53.55. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RRR shares. Morgan Stanley raised their target price on shares of Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Barclays decreased their price target on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company lowered their price objective on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 price objective on shares of Red Rock Resorts in a research note on Monday, October 14th. Finally, Mizuho downgraded shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $57.00 to $44.00 in a research note on Monday, November 25th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.42.

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.