Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.22, Zacks reports. Monarch Casino & Resort had a return on equity of 18.99% and a net margin of 18.70%. The business had revenue of $136.91 million during the quarter, compared to the consensus estimate of $129.76 million.
Monarch Casino & Resort Stock Performance
Monarch Casino & Resort stock traded up $0.32 during mid-day trading on Friday, reaching $105.15. 327,013 shares of the company were exchanged, compared to its average volume of 112,718. The firm's 50-day simple moving average is $85.83 and its two-hundred day simple moving average is $83.55. The firm has a market cap of $1.94 billion, a PE 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 Dividend Announcement
The company also recently announced 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. The ex-dividend date is Friday, August 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.14%. Monarch Casino & Resort's dividend payout ratio (DPR) is presently 22.56%.
Analysts Set New Price Targets
A number of research firms have recently issued reports on MCRI. Truist Financial increased their price target on Monarch Casino & Resort from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday. Wall Street Zen upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Macquarie reiterated a "neutral" rating and set a $92.00 price target on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. Wells Fargo & Company raised Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $83.00 to $89.00 in a research note on Thursday. Finally, Stifel Nicolaus upped their price target on Monarch Casino & Resort from $81.00 to $92.00 and gave the company a "hold" rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $93.20.
Read Our Latest Analysis on MCRI
Institutional Trading of Monarch Casino & Resort
An institutional investor recently raised its position in Monarch Casino & Resort stock. AQR Capital Management LLC increased its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 36.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,731 shares of the company's stock after buying an additional 15,295 shares during the quarter. AQR Capital Management LLC owned about 0.31% of Monarch Casino & Resort worth $4,489,000 as of its most recent filing with the Securities and Exchange Commission. 62.37% of the stock is currently owned by institutional investors.
Monarch Casino & Resort Company Profile
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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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