Monarch Casino & Resort (NASDAQ:MCRI) Posts Quarterly Earnings Results

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

Monarch Casino & Resort Stock Up 0.4 %

MCRI traded up $0.26 during midday trading on Friday, hitting $66.80. 29,577 shares of the company’s stock traded hands, compared to its average volume of 115,209. The company has a market cap of $1.26 billion, a PE ratio of 15.81 and a beta of 1.66. The stock’s fifty day simple moving average is $70.75 and its 200-day simple moving average is $67.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.61 and a quick ratio of 0.55. Monarch Casino & Resort has a one year low of $56.25 and a one year high of $75.52.

Monarch Casino & Resort Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be given a dividend of $0.30 per share. 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 payout ratio is presently 28.37%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MCRI. StockNews.com upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Macquarie raised their price target on shares of Monarch Casino & Resort from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Thursday. Stifel Nicolaus restated a “hold” rating and set a $70.00 price target on shares of Monarch Casino & Resort in a report on Friday, January 5th. Finally, Truist Financial raised their price target on shares of Monarch Casino & Resort from $72.00 to $74.00 and gave the stock a “hold” rating in a report on Thursday, February 15th.

Hedge Funds Weigh In On Monarch Casino & Resort

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in shares of Monarch Casino & Resort by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 5,553 shares of the company’s stock valued at $391,000 after purchasing an additional 162 shares during the period. Credit Suisse AG raised its position in shares of Monarch Casino & Resort by 1.0% in the fourth quarter. Credit Suisse AG now owns 18,228 shares of the company’s stock valued at $1,402,000 after purchasing an additional 177 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in shares of Monarch Casino & Resort by 0.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 36,495 shares of the company’s stock valued at $3,183,000 after purchasing an additional 185 shares during the period. Legal & General Group Plc raised its position in shares of Monarch Casino & Resort by 0.6% in the second quarter. Legal & General Group Plc now owns 31,231 shares of the company’s stock valued at $1,832,000 after purchasing an additional 195 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of Monarch Casino & Resort by 5.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 3,991 shares of the company’s stock valued at $281,000 after purchasing an additional 200 shares during the period. Institutional investors own 62.37% of the company’s stock.

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.