Monarch Casino & Resort (NASDAQ:MCRI - Free Report) had its target price upped by Truist Financial from $100.00 to $105.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.
A number of other research analysts have also issued reports on MCRI. Macquarie restated a "neutral" rating and set a $92.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd. Wall Street Zen upgraded shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Sunday. Finally, Stifel Nicolaus cut their price target on shares of Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $93.20.
Read Our Latest Analysis on MCRI
Monarch Casino & Resort Stock Up 20.0%
Shares of NASDAQ MCRI traded up $17.47 during trading hours on Wednesday, hitting $104.83. 677,933 shares of the stock were exchanged, compared to its average volume of 111,598. The company has a market cap of $1.94 billion, a PE ratio of 20.68 and a beta of 1.54. The firm has a fifty day moving average price of $84.82 and a 200-day moving average price of $83.12. Monarch Casino & Resort has a 12 month low of $67.14 and a 12 month high of $113.87.
Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.22 by $0.22. The firm had revenue of $136.91 million during the quarter, compared to analyst estimates of $129.76 million. Monarch Casino & Resort had a net margin of 18.19% and a return on equity of 18.53%. As a group, equities analysts anticipate that Monarch Casino & Resort will post 5.13 earnings per share for the current fiscal year.
Monarch Casino & Resort Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, August 29th. Monarch Casino & Resort's dividend payout ratio (DPR) is currently 23.67%.
Institutional Trading of Monarch Casino & Resort
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCRI. Charles Schwab Investment Management Inc. grew its position in Monarch Casino & Resort by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 118,512 shares of the company's stock valued at $9,351,000 after buying an additional 5,674 shares during the period. Raymond James Financial Inc. purchased a new position in Monarch Casino & Resort during the fourth quarter valued at $6,118,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Monarch Casino & Resort by 32.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,242 shares of the company's stock valued at $808,000 after purchasing an additional 2,506 shares in the last quarter. Royce & Associates LP lifted its holdings in Monarch Casino & Resort by 4.4% during the fourth quarter. Royce & Associates LP now owns 19,595 shares of the company's stock valued at $1,546,000 after purchasing an additional 825 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Monarch Casino & Resort by 19.2% during the fourth quarter. Teacher Retirement System of Texas now owns 108,612 shares of the company's stock valued at $8,569,000 after purchasing an additional 17,470 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company's stock.
Monarch Casino & Resort Company Profile
(
Get Free Report)
Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.
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