Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Monarch Casino & Resort received a consensus analyst rating of “Moderate Buy” from six covering firms, with an average 1-year price target of $109.50.
• The company reported stronger-than-expected quarterly results, posting EPS of $1.52 versus the $1.15 estimate and revenue of $136.55 million, up 8.9% year over year.
• Monarch also announced a quarterly dividend of $0.30 per share, payable June 15, for an annualized yield of about 0.9%.

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $109.50.

Several research analysts have issued reports on MCRI shares. Stifel Nicolaus raised their price objective on shares of Monarch Casino & Resort from $97.00 to $102.00 and gave the stock a "hold" rating in a research report on Wednesday, April 22nd. Wells Fargo & Company lifted their target price on shares of Monarch Casino & Resort from $97.00 to $99.00 and gave the company an "equal weight" rating in a report on Wednesday, April 22nd. Zacks Research raised shares of Monarch Casino & Resort from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 5th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Monarch Casino & Resort in a report on Wednesday, May 27th. Finally, Wall Street Zen raised shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating in a report on Saturday, April 25th.

Monarch Casino & Resort Stock Performance

Shares of Monarch Casino & Resort stock opened at $127.65 on Friday. Monarch Casino & Resort has a 1 year low of $82.18 and a 1 year high of $128.25. The company has a market capitalization of $2.27 billion, a P/E ratio of 21.64 and a beta of 1.30. The company's fifty day moving average is $112.83 and its two-hundred day moving average is $101.78.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.37. Monarch Casino & Resort had a net margin of 19.62% and a return on equity of 19.98%. The company had revenue of $136.55 million for the quarter, compared to the consensus estimate of $128.49 million. Monarch Casino & Resort's revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts expect that Monarch Casino & Resort will post 7.07 earnings per share for the current year.

Monarch Casino & Resort Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.9%. Monarch Casino & Resort's payout ratio is presently 20.34%.

Insider Buying and Selling at Monarch Casino & Resort

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

Institutional Trading of Monarch Casino & Resort

Several hedge funds and other institutional investors have recently made changes to their positions in MCRI. Osaic Holdings Inc. boosted its holdings in shares of Monarch Casino & Resort by 210.0% in the second quarter. Osaic Holdings Inc. now owns 465 shares of the company's stock valued at $40,000 after acquiring an additional 315 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Monarch Casino & Resort in the fourth quarter valued at about $40,000. GAMMA Investing LLC lifted its stake in shares of Monarch Casino & Resort by 12.1% in the fourth quarter. GAMMA Investing LLC now owns 984 shares of the company's stock valued at $94,000 after purchasing an additional 106 shares during the period. Parallel Advisors LLC boosted its holdings in Monarch Casino & Resort by 191.3% during the first quarter. Parallel Advisors LLC now owns 1,136 shares of the company's stock worth $109,000 after buying an additional 746 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Monarch Casino & Resort by 69.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the company's stock worth $110,000 after buying an additional 524 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company's stock.

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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