Red Rock Resorts, Inc. (NASDAQ:RRR) Declares $1.00 Special Dividend

Red Rock Resorts, Inc. (NASDAQ:RRR) declared a special dividend on Tuesday, February 10th. Shareholders of record on Friday, February 20th will be paid a dividend of 1.00 per share on Friday, February 27th. The ex-dividend date is Friday, February 20th.

Red Rock Resorts has raised its dividend by an average of 0.4%annually over the last three years. Red Rock Resorts has a payout ratio of 58.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Red Rock Resorts to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 54.5%.

Red Rock Resorts Price Performance

Shares of NASDAQ:RRR traded down $0.80 during trading on Wednesday, hitting $66.00. 647,636 shares of the stock were exchanged, compared to its average volume of 618,196. Red Rock Resorts has a 12-month low of $35.09 and a 12-month high of $68.99. The company has a market cap of $6.99 billion, a PE ratio of 21.02, a P/E/G ratio of 2.79 and a beta of 1.49. The company has a fifty day moving average price of $61.92 and a two-hundred day moving average price of $60.01. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 10.11.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.34. The business had revenue of $511.78 million for the quarter, compared to analysts’ expectations of $500.90 million. Red Rock Resorts had a net margin of 9.52% and a return on equity of 59.86%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the company earned $0.76 earnings per share. On average, analysts forecast that Red Rock Resorts will post 1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

RRR has been the topic of several recent analyst reports. Macquarie Infrastructure boosted their price target on Red Rock Resorts from $67.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Barclays upped their price target on shares of Red Rock Resorts from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Susquehanna boosted their target price on shares of Red Rock Resorts from $69.00 to $77.00 and gave the stock a “positive” rating in a research report on Wednesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Red Rock Resorts in a research note on Thursday, January 22nd. Finally, Citigroup restated an “outperform” rating on shares of Red Rock Resorts in a research note on Wednesday. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.64.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.