Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) has earned an average rating of "Hold" from the seven research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $124.40.
A number of research firms recently commented on MCRI. Wells Fargo & Company lowered their price objective on shares of Monarch Casino & Resort from $116.00 to $114.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 21st. Zacks Research cut Monarch Casino & Resort from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of Monarch Casino & Resort in a research note on Monday, August 24th. UBS Group set a $124.00 price target on Monarch Casino & Resort in a report on Thursday, July 2nd. Finally, Truist Financial raised their price target on Monarch Casino & Resort from $125.00 to $144.00 and gave the stock a "buy" rating in a research report on Monday, July 20th.
Check Out Our Latest Stock Report on MCRI
Monarch Casino & Resort Stock Performance
Shares of NASDAQ MCRI opened at $121.47 on Friday. Monarch Casino & Resort has a 52-week low of $88.13 and a 52-week high of $135.93. The stock has a market cap of $2.18 billion, a P/E ratio of 19.47 and a beta of 1.31. The firm has a 50 day moving average price of $122.51 and a 200 day moving average price of $116.27.
Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its earnings results on Monday, July 20th. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. The company had revenue of $142.60 million for the quarter, compared to analyst estimates of $142.85 million. Monarch Casino & Resort had a net margin of 20.40% and a return on equity of 20.63%. Monarch Casino & Resort's revenue for the quarter was up 4.2% on a year-over-year basis. Analysts predict that Monarch Casino & Resort will post 6.98 earnings per share for the current fiscal year.
Monarch Casino & Resort Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, September 1st. Monarch Casino & Resort's dividend payout ratio is presently 19.23%.
Institutional Trading of Monarch Casino & Resort
Several hedge funds have recently bought and sold shares of MCRI. Hillsdale Investment Management Inc. acquired a new stake in shares of Monarch Casino & Resort during the fourth quarter worth $7,244,000. Sei Investments Co. lifted its position in Monarch Casino & Resort by 69.9% in the 1st quarter. Sei Investments Co. now owns 33,319 shares of the company's stock valued at $3,185,000 after acquiring an additional 13,712 shares in the last quarter. Ieq Capital LLC acquired a new position in Monarch Casino & Resort in the 2nd quarter worth $1,182,000. BlackRock Inc. acquired a new position in Monarch Casino & Resort in the 2nd quarter worth $270,679,000. Finally, Legal & General Group Plc acquired a new position in Monarch Casino & Resort in the 2nd quarter worth $3,467,000. 62.37% of the stock is currently owned by institutional investors and hedge funds.
About Monarch Casino & Resort
(
Get Free Report)
Monarch Casino & Resort, Inc is a gaming and hospitality company that owns and operates casino resorts in Nevada and Colorado. Its properties combine casino gaming with hotel accommodations, dining, entertainment, and other resort amenities.
The company operates Atlantis Casino Resort Spa in Reno, Nevada, which offers casino games, hotel rooms, restaurants, entertainment, and spa services. In Black Hawk, Colorado, Monarch operates Monarch Casino Resort Spa, a destination featuring gaming, lodging, dining, entertainment, and wellness facilities.
Monarch Casino & Resort has expanded its presence through the development and acquisition of casino resort properties, including its Black Hawk operations.
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