Monarch Casino & Resort (NASDAQ:MCRI) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Monarch Casino & Resort (NASDAQ:MCRI) posted its quarterly earnings results on Wednesday. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.10, Yahoo Finance reports. 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 period last year, the firm posted $1.38 EPS.

Monarch Casino & Resort Price Performance

NASDAQ MCRI traded up $0.65 during trading hours on Friday, reaching $79.08. The company’s stock had a trading volume of 87,575 shares, compared to its average volume of 123,423. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 18.43 and a beta of 1.73. The company’s 50-day moving average is $75.90 and its two-hundred day moving average is $71.52. Monarch Casino & Resort has a 1-year low of $57.88 and a 1-year high of $80.22.

Monarch Casino & Resort Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Truist Financial raised their target price on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a report on Wednesday. Macquarie reissued a “neutral” rating and issued a $76.00 price objective on shares of Monarch Casino & Resort in a report on Thursday, July 25th. Stifel Nicolaus raised 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. Finally, StockNews.com upgraded 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.