Monarch Casino & Resort, Inc. (NASDAQ:MCRI) to Issue Quarterly Dividend of $0.30

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) declared a quarterly dividend on Monday, February 6th,Zacks Dividends reports. Investors 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 yield of 1.43%. The ex-dividend date is Friday, November 29th.

Monarch Casino & Resort has a payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Monarch Casino & Resort to earn $4.93 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 Stock Down 2.0 %

Shares of Monarch Casino & Resort stock opened at $83.99 on Thursday. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 18.58 and a beta of 1.73. The company’s 50 day moving average is $79.13 and its 200 day moving average is $73.60. Monarch Casino & Resort has a twelve month low of $62.03 and a twelve month high of $86.68.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.10. The company had revenue of $137.87 million for the quarter, compared to the consensus estimate of $134.50 million. 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 $1.38 earnings per share. Sell-side analysts expect that Monarch Casino & Resort will post 4.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MCRI has been the topic of several recent research reports. Stifel Nicolaus increased their price target on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Truist Financial increased their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd.

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.