Monarch Casino & Resort (NASDAQ:MCRI) Sets New 12-Month High - Time to Buy?

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $80.28 and last traded at $80.15, with a volume of 64788 shares changing hands. The stock had previously closed at $79.12.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Macquarie reaffirmed a "neutral" rating and set a $76.00 price target on shares of Monarch Casino & Resort in a report on Thursday, July 25th. Stifel Nicolaus lifted their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a "hold" rating in a research note on Thursday, October 24th. Truist Financial lifted their target price on Monarch Casino & Resort from $75.00 to $82.00 and gave the company a "hold" rating in a research report on Wednesday, October 23rd. Finally, StockNews.com upgraded Monarch Casino & Resort from a "buy" rating to a "strong-buy" rating in a report on Monday, October 21st.

Monarch Casino & Resort Stock Performance

The company has a market cap of $1.49 billion, a price-to-earnings ratio of 18.86 and a beta of 1.73. The stock's fifty day moving average is $76.19 and its two-hundred day moving average is $71.66.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.10. The company had revenue of $137.87 million during the quarter, compared to analyst estimates of $134.50 million. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. During the same quarter last year, the business posted $1.38 EPS. On average, equities research analysts expect that Monarch Casino & Resort, Inc. will post 4.62 EPS for the current year.

Monarch Casino & Resort Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Friday, November 29th. Monarch Casino & Resort's dividend payout ratio is currently 28.37%.

Hedge Funds Weigh In On Monarch Casino & Resort

A number of large investors have recently added to or reduced their stakes in the business. UniSuper Management Pty Ltd bought a new stake in shares of Monarch Casino & Resort during the 1st quarter valued at about $536,000. Manning & Napier Advisors LLC purchased a new position in shares of Monarch Casino & Resort during the second quarter valued at approximately $3,307,000. Westwood Holdings Group Inc. purchased a new stake in Monarch Casino & Resort during the first quarter valued at approximately $2,822,000. SG Americas Securities LLC purchased a new stake in Monarch Casino & Resort during the second quarter valued at approximately $751,000. Finally, US Bancorp DE increased its holdings in Monarch Casino & Resort by 8.6% during the first quarter. US Bancorp DE now owns 6,124 shares of the company's stock valued at $459,000 after buying an additional 483 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company's stock.

About Monarch Casino & Resort

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.