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

Monarch Casino & Resort (NASDAQ:MCRI) announced its earnings results on Wednesday. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.10, Yahoo Finance reports. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. The company had revenue of $137.87 million for the quarter, compared to analyst estimates of $134.50 million. During the same period in the prior year, the business earned $1.38 earnings per share.

Monarch Casino & Resort Stock Up 0.8 %

NASDAQ MCRI traded up $0.65 during trading hours on Friday, hitting $79.08. The company’s stock had a trading volume of 87,575 shares, compared to its average volume of 123,423. The stock has a fifty day moving average of $75.90 and a 200 day moving average of $71.52. Monarch Casino & Resort has a twelve month low of $57.88 and a twelve month high of $80.22. The firm has a market capitalization of $1.46 billion, a P/E ratio of 18.43 and a beta of 1.73.

Monarch Casino & Resort Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.20 annualized dividend and a yield of 1.52%. Monarch Casino & Resort’s dividend payout ratio is currently 28.04%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research report on Monday. Macquarie reiterated a “neutral” rating and set a $76.00 target price on shares of Monarch Casino & Resort in a research report on Thursday, July 25th. Truist Financial upped their target price on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Stifel Nicolaus upped their target price on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.