Monarch Casino & Resort (NASDAQ:MCRI) Announces Earnings Results, Misses Estimates By $0.02 EPS

Monarch Casino & Resort (NASDAQ:MCRI) posted its quarterly earnings results on Wednesday. The company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.02), Yahoo Finance reports. Monarch Casino & Resort had a net margin of 16.40% and a return on equity of 17.22%. The company had revenue of $121.66 million during the quarter, compared to analyst estimates of $122.13 million. During the same period last year, the firm earned $0.90 EPS.

Monarch Casino & Resort Trading Up 0.4 %

MCRI traded up $0.26 during trading on Friday, hitting $66.80. The company’s stock had a trading volume of 29,577 shares, compared to its average volume of 115,209. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.01. Monarch Casino & Resort has a twelve month low of $56.25 and a twelve month high of $75.52. The stock’s fifty day moving average price is $70.75 and its 200-day moving average price is $67.04. The firm has a market capitalization of $1.26 billion, a P/E ratio of 15.81 and a beta of 1.66.

Monarch Casino & Resort Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.80%. The ex-dividend date is Friday, May 31st. Monarch Casino & Resort’s dividend payout ratio (DPR) is presently 28.37%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Truist Financial boosted their price target on Monarch Casino & Resort from $72.00 to $74.00 and gave the stock a “hold” rating in a report on Thursday, February 15th. StockNews.com upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $70.00 target price on shares of Monarch Casino & Resort in a report on Friday, January 5th. Finally, Macquarie upped their target price on Monarch Casino & Resort from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Thursday.

Hedge Funds Weigh In On Monarch Casino & Resort

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Monarch Casino & Resort by 3.2% during the second quarter. BlackRock Inc. now owns 2,337,231 shares of the company’s stock worth $164,658,000 after purchasing an additional 72,857 shares during the period. Vanguard Group Inc. grew its holdings in Monarch Casino & Resort by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 1,059,127 shares of the company’s stock worth $73,239,000 after buying an additional 33,849 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Monarch Casino & Resort by 3.6% during the third quarter. JPMorgan Chase & Co. now owns 841,840 shares of the company’s stock worth $52,278,000 after buying an additional 29,575 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Monarch Casino & Resort by 2.5% during the second quarter. Macquarie Group Ltd. now owns 578,861 shares of the company’s stock worth $33,962,000 after buying an additional 14,291 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Monarch Casino & Resort by 925.0% during the first quarter. Invesco Ltd. now owns 570,410 shares of the company’s stock worth $49,757,000 after buying an additional 514,761 shares in the last quarter. 62.37% of the stock is owned by institutional investors and hedge funds.

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.