Red Rock Resorts, Inc. (NASDAQ:RRR) to Issue Quarterly Dividend of $0.26

Red Rock Resorts, Inc. (NASDAQ:RRR) announced a quarterly dividend on Tuesday, February 10th. Shareholders of record on Monday, March 16th will be given a dividend of 0.26 per share on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, March 16th.

Red Rock Resorts has raised its dividend payment by an average of 0.4%annually over the last three years. Red Rock Resorts has a payout ratio of 58.8% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of NASDAQ RRR traded down $1.34 during midday trading on Wednesday, reaching $65.45. 772,331 shares of the stock were exchanged, compared to its average volume of 621,174. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 10.11. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.79 and a beta of 1.49. The firm has a 50-day simple moving average of $61.92 and a two-hundred day simple moving average of $60.01. Red Rock Resorts has a twelve month low of $35.09 and a twelve month high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.34. The firm had revenue of $511.78 million for the quarter, compared to the consensus estimate of $500.90 million. Red Rock Resorts had a net margin of 9.52% and a return on equity of 59.86%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 earnings per share. As a group, analysts anticipate that Red Rock Resorts will post 1.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Red Rock Resorts

Several hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC grew its stake in Red Rock Resorts by 4.6% during the 3rd quarter. CWM LLC now owns 4,663 shares of the company’s stock valued at $285,000 after acquiring an additional 205 shares in the last quarter. Baron Wealth Management LLC boosted its holdings in shares of Red Rock Resorts by 1.5% during the 3rd quarter. Baron Wealth Management LLC now owns 15,112 shares of the company’s stock worth $923,000 after purchasing an additional 218 shares during the last quarter. Arizona State Retirement System grew its position in shares of Red Rock Resorts by 1.5% in the third quarter. Arizona State Retirement System now owns 15,103 shares of the company’s stock valued at $922,000 after purchasing an additional 219 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Red Rock Resorts by 53.8% in the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after purchasing an additional 263 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Red Rock Resorts by 4.6% in the second quarter. Teacher Retirement System of Texas now owns 7,751 shares of the company’s stock valued at $403,000 after purchasing an additional 340 shares during the last quarter. 47.84% of the stock is owned by hedge funds and other institutional investors.

About Red Rock Resorts

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.