Red Rock Resorts Inc (RRR) Plans $0.10 Quarterly Dividend

Red Rock Resorts Inc (NASDAQ:RRR) declared a quarterly dividend on Friday, November 2nd, NASDAQ reports. Investors of record on Friday, December 14th will be paid a dividend of 0.10 per share on Tuesday, January 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, December 13th.

Red Rock Resorts has a dividend payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Red Rock Resorts to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 29.0%.

NASDAQ:RRR traded down $1.06 during trading hours on Friday, hitting $23.20. 677,136 shares of the company traded hands, compared to its average volume of 761,492. The company has a current ratio of 0.72, a quick ratio of 0.68 and a debt-to-equity ratio of 3.29. Red Rock Resorts has a one year low of $21.20 and a one year high of $36.99. The stock has a market cap of $2.83 billion, a PE ratio of 37.42 and a beta of 1.70.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Wednesday, November 7th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.04). Red Rock Resorts had a net margin of 10.84% and a return on equity of 12.27%. The company had revenue of $412.30 million for the quarter, compared to the consensus estimate of $409.03 million. During the same quarter last year, the business posted $0.16 earnings per share. Red Rock Resorts’s revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts forecast that Red Rock Resorts will post 1.13 earnings per share for the current fiscal year.

RRR has been the topic of several recent analyst reports. BidaskClub cut Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Friday, August 10th. ValuEngine cut Red Rock Resorts from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Zacks Investment Research raised Red Rock Resorts from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 10th. Finally, SunTrust Banks decreased their target price on Red Rock Resorts to $25.00 and set a “hold” rating for the company in a research report on Thursday, November 8th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.71.

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Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

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Dividend History for Red Rock Resorts (NASDAQ:RRR)

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