Monarch Casino & Resort (NASDAQ:MCRI) Posts Earnings Results, Beats Expectations By $0.23 EPS

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.23, Zacks reports. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. During the same quarter in the prior year, the firm earned $1.03 EPS.

Monarch Casino & Resort Price Performance

Shares of MCRI stock traded up $0.31 during trading on Friday, reaching $94.47. The company's stock had a trading volume of 145,995 shares, compared to its average volume of 76,687. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 20.90 and a beta of 1.74. The stock's 50-day moving average price is $83.07 and its 200 day moving average price is $79.71. Monarch Casino & Resort has a 1-year low of $64.50 and a 1-year high of $96.11.

Monarch Casino & Resort Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, February 28th. Monarch Casino & Resort's dividend payout ratio (DPR) is currently 26.55%.

Insider Buying and Selling

In related news, CEO John Farahi sold 1,000 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total transaction of $77,700.00. Following the completion of the sale, the chief executive officer now owns 528,436 shares in the company, valued at $41,059,477.20. This represents a 0.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 24.94% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MCRI has been the topic of several research reports. Stifel Nicolaus raised their price target on shares of Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday. Jefferies Financial Group raised their price target on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a "hold" rating in a research note on Friday, January 3rd. StockNews.com cut shares of Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Wells Fargo & Company lifted their price target on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a research report on Wednesday. Finally, Truist Financial upgraded shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating and lifted their price target for the company from $82.00 to $100.00 in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $87.20.

Monarch Casino & Resort Company Profile

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.