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

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

Monarch Casino & Resort Stock Up 0.8 %

Monarch Casino & Resort stock traded up $0.65 during mid-day trading on Friday, reaching $79.08. The company had a trading volume of 87,575 shares, compared to its average volume of 123,423. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 18.43 and a beta of 1.73. The company has a 50 day moving average of $75.90 and a 200-day moving average of $71.52. Monarch Casino & Resort has a 52 week low of $57.88 and a 52 week high of $80.22.

Monarch Casino & Resort Dividend Announcement

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

Wall Street Analyst Weigh In

MCRI has been the subject of several analyst reports. Stifel Nicolaus boosted their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday. Macquarie restated a “neutral” rating and issued a $76.00 price objective on shares of Monarch Casino & Resort in a research note on Thursday, July 25th. Truist Financial raised their target price on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, StockNews.com raised shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research report on Monday.

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.