Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.01, Zacks reports. The company had revenue of $125.39 million during the quarter, compared to analysts' expectations of $122.70 million. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%.
Monarch Casino & Resort Price Performance
Shares of MCRI traded up $0.43 on Friday, reaching $77.49. 65,734 shares of the stock traded hands, compared to its average volume of 118,326. The stock's 50-day moving average price is $81.39 and its 200-day moving average price is $81.98. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 15.65 and a beta of 1.57. Monarch Casino & Resort has a 12 month low of $64.58 and a 12 month high of $96.11.
Monarch Casino & Resort Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be given a $0.30 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.55%. Monarch Casino & Resort's dividend payout ratio is currently 24.24%.
Analysts Set New Price Targets
Several equities analysts have commented on the company. Wells Fargo & Company increased their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a report on Wednesday, February 12th. Truist Financial lowered their target price on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday. StockNews.com cut shares of Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Macquarie reissued a "neutral" rating and set a $92.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday. Finally, Jefferies Financial Group lifted their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a "hold" rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $88.60.
Check Out Our Latest Report on Monarch Casino & Resort
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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