Red Rock Resorts Inc (RRR) Plans Quarterly Dividend of $0.10
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 given a dividend of 0.10 per share on Tuesday, January 1st. This represents a $0.40 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, December 13th.
Red Rock Resorts has a dividend payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings. Equities 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%.
RRR stock traded down $1.06 during trading on Friday, reaching $23.20. 677,136 shares of the company were exchanged, compared to its average volume of 761,492. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 37.42 and a beta of 1.70. Red Rock Resorts has a twelve month low of $21.20 and a twelve month high of $36.99. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.72 and a quick ratio of 0.68.
A number of equities analysts recently issued reports on the stock. ValuEngine upgraded shares of Red Rock Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, November 28th. Zacks Investment Research upgraded shares of Red Rock Resorts from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 10th. SunTrust Banks lowered their price objective on shares of Red Rock Resorts to $25.00 and set a “hold” rating for the company in a research report on Thursday, November 8th. Finally, BidaskClub upgraded shares of Red Rock Resorts from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Red Rock Resorts currently has a consensus rating of “Hold” and a consensus target price of $35.71.
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About Red Rock Resorts
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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