Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) announced a quarterly dividend on Wednesday, October 23rd, Zacks reports. Stockholders of record on Sunday, December 1st will be paid a dividend of 0.30 per share on Sunday, December 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Friday, November 29th.
Monarch Casino & Resort has a payout ratio of 24.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Monarch Casino & Resort to earn $4.94 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 24.3%.
Monarch Casino & Resort Price Performance
MCRI traded up $0.65 during trading hours on Friday, hitting $79.08. 87,575 shares of the stock were exchanged, compared to its average volume of 123,423. Monarch Casino & Resort has a 12 month low of $57.88 and a 12 month high of $80.22. The stock has a 50-day simple moving average of $75.90 and a 200-day simple moving average of $71.52. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 18.43 and a beta of 1.73.
Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. The business had revenue of $137.87 million during the quarter, compared to analyst estimates of $134.50 million. During the same period in the previous year, the business posted $1.38 EPS. Sell-side analysts expect that Monarch Casino & Resort will post 4.62 EPS for the current year.
Analyst Ratings Changes
Several analysts recently issued reports on MCRI shares. StockNews.com raised Monarch Casino & Resort from a "buy" rating to a "strong-buy" rating in a report on Monday. Truist Financial boosted their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a "hold" rating in a report on Wednesday. Stifel Nicolaus increased their price objective on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a "hold" rating in a report on Thursday. Finally, Macquarie reissued a "neutral" rating and set a $76.00 target price on shares of Monarch Casino & Resort in a research note on Thursday, July 25th.
Get Our Latest Analysis on MCRI
About Monarch Casino & Resort
(
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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.
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