Monarch Casino & Resort (NASDAQ:MCRI) Posts Quarterly Earnings Results

Key Points

• EPS beat: Monarch reported $1.52 EPS for the quarter versus a $1.15 consensus, topping estimates by $0.37, with a return on equity of 18.68% and a net margin of 18.60%.
• Shares traded at $98.58 (down $0.55) with a market cap of $1.75 billion and a P/E of 18.15, and the 12‑month range is $74.39 to $113.88 with 50‑ and 200‑day moving averages near $97.17 and $95.73.
• Dividend and insider activity: The company paid a $0.30 quarterly dividend ($1.20 annualized, a 1.2% yield and 22.1% payout ratio), while CEO John Farahi sold 2,000 shares; insiders own 25.52% and institutions own 62.37% of the stock.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.37, Zacks reports. Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.

Monarch Casino & Resort Price Performance

NASDAQ:MCRI traded down $0.55 on Tuesday, reaching $98.58. The stock had a trading volume of 111,412 shares, compared to its average volume of 115,145. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 18.15 and a beta of 1.30. The firm's fifty day moving average is $97.17 and its two-hundred day moving average is $95.73. Monarch Casino & Resort has a 12-month low of $74.39 and a 12-month high of $113.88.

Monarch Casino & Resort Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, March 2nd. Monarch Casino & Resort's dividend payout ratio is 22.10%.

Insider Transactions at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of Monarch Casino & Resort stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $99.00, for a total value of $198,000.00. Following the completion of the sale, the chief executive officer owned 536,304 shares in the company, valued at $53,094,096. The trade was a 0.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 25.52% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MCRI. Kestra Advisory Services LLC acquired a new position in shares of Monarch Casino & Resort during the 4th quarter valued at about $40,000. Osaic Holdings Inc. increased 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 valued at $40,000 after acquiring an additional 315 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Monarch Casino & Resort by 69.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the company's stock valued at $110,000 after acquiring an additional 524 shares during the last quarter. Mariner LLC increased its stake in shares of Monarch Casino & Resort by 6.5% during the 3rd quarter. Mariner LLC now owns 2,493 shares of the company's stock valued at $264,000 after acquiring an additional 152 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in shares of Monarch Casino & Resort during the 3rd quarter valued at about $270,000. Institutional investors and hedge funds own 62.37% of the company's stock.

Analyst Ratings Changes

MCRI has been the subject of several research reports. Jefferies Financial Group reaffirmed a "hold" rating and set a $112.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, December 24th. Wells Fargo & Company lifted their price target on Monarch Casino & Resort from $93.00 to $97.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 16th. Zacks Research downgraded Monarch Casino & Resort from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Monarch Casino & Resort in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $100.60.

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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