Analyst Price Forecast Suggests 18.81% Upside
As of August 31, 2023, the average one-year price target for Red Rock Resorts Inc – is 52.84. The forecasts range from a low of 45.45 to a high of $56.70. The average price target represents an increase of 18.81% from its latest reported closing price of 44.47.
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The projected annual revenue for Red Rock Resorts Inc – is 1,651MM, a decrease of 2.29%. The projected annual non-GAAP EPS is 2.22.
Red Rock Resorts Inc – Declares $0.25 Dividend
On August 3, 2023 the company declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Shareholders of record as of September 15, 2023 will receive the payment on September 29, 2023. Previously, the company paid $0.25 per share.
At the current share price of $44.47 / share, the stock’s dividend yield is 2.25%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.56%, the lowest has been 1.38%, and the highest has been 6.50%. The standard deviation of yields is 1.11 (n=151).
The current dividend yield is 0.29 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.51. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 451 funds or institutions reporting positions in Red Rock Resorts Inc -. This is a decrease of 5 owner(s) or 1.10% in the last quarter. Average portfolio weight of all funds dedicated to RRR is 0.23%, a decrease of 18.09%. Total shares owned by institutions decreased in the last three months by 0.13% to 74,806K shares. The put/call ratio of RRR is 0.41, indicating a bullish outlook.
What are Other Shareholders Doing?
Bamco holds 8,894K shares representing 15.35% ownership of the company. In it’s prior filing, the firm reported owning 8,471K shares, representing an increase of 4.76%. The firm increased its portfolio allocation in RRR by 1.66% over the last quarter.
Diamond Hill Capital Management holds 4,736K shares representing 8.17% ownership of the company. In it’s prior filing, the firm reported owning 4,768K shares, representing a decrease of 0.70%. The firm increased its portfolio allocation in RRR by 0.15% over the last quarter.
Sequoia Financial Advisors holds 3,713K shares representing 6.41% ownership of the company.
Massachusetts Financial Services holds 3,232K shares representing 5.58% ownership of the company. In it’s prior filing, the firm reported owning 3,357K shares, representing a decrease of 3.89%. The firm decreased its portfolio allocation in RRR by 2.70% over the last quarter.
BSCFX – BARON SMALL CAP FUND holds 2,750K shares representing 4.75% ownership of the company. No change in the last quarter.
Red Rock Resorts Background Information
(This description is provided by the company.)
Red Rock Resorts owns a majority indirect equity interest in and manages Station Casinos LLC (‘Station Casinos’). Station Casinos is the leading provider of gaming and entertainment to the residents of Las Vegas, Nevada. Station Casinos’ properties, which are located throughout the Las Vegasvalley, are regional entertainment destinations and include various amenities, including numerous restaurants, entertainment venues, movie theaters, bowling and convention/banquet space, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering. Station Casinos owns and operates Red Rock Casino Resort Spa, Green Valley Ranch Resort Spa Casino, Palms Casino Resort, Palace Station Hotel & Casino, Boulder Station Hotel & Casino, Sunset Station Hotel & Casino, Santa Fe Station Hotel & Casino, Texas Station Gambling Hall & Hotel, Fiesta Rancho Casino Hotel, Fiesta Henderson Casino Hotel, Wildfire Rancho, Wildfire Boulder, Wild Wild West Gambling Hall & Hotel, Wildfire Sunset, Wildfire Valley View, Wildfire Anthem and Wildfire Lake Mead. Station Casinos also owns a 50% interest in Barley’s Casino & Brewing Company, Wildfire Casino & Lanes and The Greens. In addition, Station Casinos is the manager of Graton Resort & Casino in northern California.
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