Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts maintain a “Hold” consensus on Monarch Casino & Resort, with three hold, two buy and one sell rating. The average 12-month price target is $124.40.
• Monarch reported quarterly EPS of $1.78, exceeding the $1.68 consensus estimate, while revenue reached $142.6 million and increased 4.2% year over year.
• The company declared a quarterly dividend of $0.30 per share, equivalent to $1.20 annually and a 1.0% yield; CEO John Farahi also sold 5,000 shares, while insiders own 26.34% of the stock.

Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) has been assigned an average rating of "Hold" from the six ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $124.40.

Several equities research analysts have recently weighed in on MCRI shares. Weiss Ratings reissued a "buy (b)" rating on shares of Monarch Casino & Resort in a research note on Wednesday, May 27th. Wall Street Zen lowered Monarch Casino & Resort from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. UBS Group set a $124.00 target price on Monarch Casino & Resort in a report on Thursday, July 2nd. Stifel Nicolaus increased their price target on Monarch Casino & Resort from $102.00 to $128.00 and gave the company a "hold" rating in a research report on Tuesday, July 21st. Finally, Zacks Research cut Monarch Casino & Resort from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 22nd.

Monarch Casino & Resort Price Performance

MCRI stock opened at $123.71 on Wednesday. Monarch Casino & Resort has a 12 month low of $88.13 and a 12 month high of $135.93. The firm has a market cap of $2.22 billion, a PE ratio of 19.83 and a beta of 1.31. The firm has a 50 day simple moving average of $125.34 and a 200 day simple moving average of $113.18.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its quarterly earnings results on Monday, July 20th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm 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%. The business's revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts expect that Monarch Casino & Resort will post 6.98 earnings per share for the current year.

Monarch Casino & Resort Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 1st. Monarch Casino & Resort's dividend payout ratio (DPR) is presently 19.23%.

Insider Buying and Selling at Monarch Casino & Resort

In other news, CEO John Farahi sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.84, for a total transaction of $604,200.00. Following the sale, the chief executive officer owned 616,556 shares in the company, valued at $74,504,627.04. The trade was a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Monarch Casino & Resort

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in Monarch Casino & Resort by 36.0% during the 1st quarter. AQR Capital Management LLC now owns 57,731 shares of the company's stock valued at $4,489,000 after purchasing an additional 15,295 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Monarch Casino & Resort by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,618 shares of the company's stock valued at $592,000 after buying an additional 316 shares in the last quarter. Creative Planning purchased a new position in shares of Monarch Casino & Resort during the second quarter valued at $283,000. Quantbot Technologies LP acquired a new position in Monarch Casino & Resort during the second quarter valued at $431,000. Finally, First Trust Advisors LP raised its position in Monarch Casino & Resort by 9.5% during the second quarter. First Trust Advisors LP now owns 41,109 shares of the company's stock valued at $3,553,000 after buying an additional 3,574 shares during the period. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company's flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property's showroom.

Monarch's revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.

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