Red Rock Resorts, Inc. Plans Quarterly Dividend of $0.25 (NASDAQ:RRR)

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Monday, December 16th.

Red Rock Resorts has increased its dividend by an average of 115.4% annually over the last three years. Red Rock Resorts has a payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 4.3 %

Shares of NASDAQ:RRR traded down $2.39 during mid-day trading on Friday, hitting $53.27. 2,809,556 shares of the company traded hands, compared to its average volume of 475,884. The firm's 50 day simple moving average is $53.71 and its 200 day simple moving average is $53.93. Red Rock Resorts has a 52-week low of $40.22 and a 52-week high of $63.28. The company has a debt-to-equity ratio of 15.15, a quick ratio of 0.89 and a current ratio of 0.94. The firm has a market cap of $5.63 billion, a P/E ratio of 19.73, a PEG ratio of 5.96 and a beta of 2.04.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. JMP Securities reissued a "market outperform" rating and issued a $65.00 target price on shares of Red Rock Resorts in a research report on Monday, October 14th. Barclays lowered their target price on shares of Red Rock Resorts from $65.00 to $62.00 and set an "overweight" rating on the stock in a research note on Friday. Truist Financial cut 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. Stifel Nicolaus raised their target price on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock a "hold" rating in a report on Wednesday, July 24th. Finally, Susquehanna lifted their price target on Red Rock Resorts from $63.00 to $70.00 and gave the stock a "positive" rating in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Red Rock Resorts currently has an average rating of "Moderate Buy" and a consensus target price of $62.25.

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.