Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Declares Quarterly Dividend of $0.30

Key Points

• Quarterly dividend: Monarch declared a $0.30 quarterly dividend payable June 15 to shareholders of record on June 1, implying a $1.20 annual payout (≈1.2% yield) that is well-covered with a current payout ratio of 23.1% and an expected future payout ratio of about 19.5%.
• Earnings beat: The company reported quarterly EPS of $1.52 versus $1.15 expected and revenue of $136.6M (vs. $128.5M est.), with revenue up 8.9% year-over-year and strong profitability (ROE ~18.7%, net margin ~18.6%).
• Market and insider activity: Shares trade near $98.58 with a $1.75B market cap and a P/E of ~18.2; the CEO sold 2,000 shares in March, insiders own ~25.5% of the stock while institutions hold ~62.4%.

Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) announced a quarterly dividend on Tuesday, April 21st. Investors of record on Monday, June 1st will be paid a dividend of 0.30 per share on Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, June 1st.

Monarch Casino & Resort has a payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Monarch Casino & Resort to earn $6.14 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 19.5%.

Monarch Casino & Resort Stock Down 0.6%

Shares of NASDAQ MCRI opened at $98.58 on Wednesday. The business's 50 day moving average price is $97.14 and its 200 day moving average price is $95.69. The firm has a market cap of $1.75 billion, a P/E ratio of 18.15 and a beta of 1.30. Monarch Casino & Resort has a 52 week low of $74.39 and a 52 week high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its earnings results on Tuesday, April 21st. The company reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.37. The firm had revenue of $136.55 million for the quarter, compared to analyst estimates of $128.49 million. Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.The company's quarterly revenue was up 8.9% on a year-over-year basis. As a group, research analysts expect that Monarch Casino & Resort will post 5.95 earnings per share for the current year.

Insider Buying and Selling at Monarch Casino & Resort

In other news, CEO John Farahi sold 2,000 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $99.00, for a total transaction of $198,000.00. Following the completion of the transaction, the chief executive officer directly owned 536,304 shares of the company's stock, valued at $53,094,096. This represents a 0.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 25.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its stake in shares of Monarch Casino & Resort by 199.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 329 shares of the company's stock worth $35,000 after buying an additional 219 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Monarch Casino & Resort during the 4th quarter worth approximately $40,000. Osaic Holdings Inc. raised its stake in shares of Monarch Casino & Resort by 210.0% during the 2nd quarter. Osaic Holdings Inc. now owns 465 shares of the company's stock worth $40,000 after buying an additional 315 shares during the period. TD Private Client Wealth LLC raised its stake in shares of Monarch Casino & Resort by 57.1% during the 3rd quarter. TD Private Client Wealth LLC now owns 594 shares of the company's stock worth $63,000 after buying an additional 216 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Monarch Casino & Resort by 46.4% during the 3rd quarter. Blue Trust Inc. now owns 612 shares of the company's stock worth $65,000 after buying an additional 194 shares during the period. 62.37% of the stock is owned by institutional investors and hedge funds.

About Monarch Casino & Resort

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.