Monarch Casino & Resort (NASDAQ:MCRI) Stock Price Expected to Rise, Truist Financial Analyst Says

Monarch Casino & Resort (NASDAQ:MCRI - Free Report) had its price target increased by Truist Financial from $100.00 to $105.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently commented on MCRI. Wall Street Zen upgraded shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating in a report on Sunday, July 13th. Stifel Nicolaus lowered 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 report on Wednesday, April 23rd. Finally, Macquarie restated a "neutral" rating and set a $92.00 price target on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $93.20.

Monarch Casino & Resort Price Performance

Shares of NASDAQ MCRI traded up $0.32 during midday trading on Wednesday, hitting $105.15. 327,013 shares of the company's stock were exchanged, compared to its average volume of 112,718. The stock's 50 day moving average price is $85.83 and its 200-day moving average price is $83.48. The firm has a market cap of $1.94 billion, a P/E ratio of 19.77 and a beta of 1.54. Monarch Casino & Resort has a twelve month low of $67.14 and a twelve month high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its earnings results on Wednesday, July 16th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.22 by $0.22. Monarch Casino & Resort had a return on equity of 18.99% and a net margin of 18.70%. The firm had revenue of $136.91 million for the quarter, compared to analysts' expectations of $129.76 million. On average, analysts expect that Monarch Casino & Resort will post 5.13 EPS for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Friday, August 29th. Monarch Casino & Resort's dividend payout ratio (DPR) is presently 22.56%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Monarch Casino & Resort in the fourth quarter valued at approximately $19,346,000. Invesco Ltd. increased its holdings in shares of Monarch Casino & Resort by 147.1% in the first quarter. Invesco Ltd. now owns 222,770 shares of the company's stock valued at $17,320,000 after purchasing an additional 132,599 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Monarch Casino & Resort in the first quarter valued at approximately $9,872,000. Raymond James Financial Inc. acquired a new stake in shares of Monarch Casino & Resort in the fourth quarter valued at approximately $6,118,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Monarch Casino & Resort in the first quarter valued at approximately $5,904,000. Institutional investors and hedge funds own 62.37% of the company's stock.

About Monarch Casino & Resort

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.