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

Key Points

• Monarch Casino & Resort has a consensus analyst rating of "Hold" from six brokerages, with four hold ratings and two buy ratings. The average 12-month price target is $112.40.
• The company recently reported strong quarterly results, including EPS of $1.52 versus the expected $1.15 and revenue of $136.55 million versus estimates of $128.49 million. Revenue rose 8.9% year over year.
• Monarch Casino & Resort also paid a quarterly dividend of $0.30, equal to $1.20 annually and a yield of about 0.9%. Meanwhile, CEO John Farahi sold 5,000 shares in a recent insider transaction.

Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) has been given a consensus rating of "Hold" by the six brokerages that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $112.40.

MCRI has been the subject of a number of analyst reports. UBS Group set a $124.00 price objective on shares of Monarch Casino & Resort in a research report on Thursday. Jefferies Financial Group restated a "hold" rating on shares of Monarch Casino & Resort in a research note on Thursday. Truist Financial upped their price target on Monarch Casino & Resort from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Monarch Casino & Resort in a research report on Wednesday, May 27th. Finally, Wells Fargo & Company raised their price objective on Monarch Casino & Resort from $97.00 to $99.00 and gave the company an "equal weight" rating in a report on Wednesday, April 22nd.

Monarch Casino & Resort Stock Down 0.1%

Shares of NASDAQ:MCRI traded down $0.10 during trading on Tuesday, hitting $127.04. 45,512 shares of the stock traded hands, compared to its average volume of 140,160. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 21.50 and a beta of 1.29. The company has a fifty day moving average price of $122.93 and a two-hundred day moving average price of $105.71. Monarch Casino & Resort has a 52-week low of $85.66 and a 52-week high of $135.93.

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

Monarch Casino & Resort Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.9%. Monarch Casino & Resort's dividend payout ratio (DPR) is currently 20.34%.

Insider Transactions at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 5,000 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 616,556 shares of the company's stock, valued at $74,504,627.04. This trade represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 26.34% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Hillsdale Investment Management Inc. purchased a new stake in Monarch Casino & Resort during the 4th quarter valued at about $7,244,000. UBS Group AG raised its stake in Monarch Casino & Resort by 26.9% during the fourth quarter. UBS Group AG now owns 46,451 shares of the company's stock worth $4,445,000 after purchasing an additional 9,855 shares during the period. ArrowMark Colorado Holdings LLC acquired a new position in Monarch Casino & Resort in the 3rd quarter valued at about $2,214,000. AlphaQuest LLC grew its stake in shares of Monarch Casino & Resort by 303.4% in the 4th quarter. AlphaQuest LLC now owns 21,701 shares of the company's stock valued at $2,077,000 after buying an additional 16,321 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of Monarch Casino & Resort by 23.3% in the 4th quarter. Teacher Retirement System of Texas now owns 80,020 shares of the company's stock valued at $7,658,000 after buying an additional 15,110 shares during the period. Institutional investors and hedge funds own 62.37% of the company's stock.

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.

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