Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives $99.80 Average Price Target from Analysts

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $99.80.

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a research note on Monday, December 29th. Jefferies Financial Group reiterated a “hold” rating and issued a $112.00 target price on shares of Monarch Casino & Resort in a report on Wednesday, December 24th. Wells Fargo & Company boosted their price target on Monarch Casino & Resort from $92.00 to $93.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Finally, Zacks Research upgraded Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 6th.

Insider Transactions at Monarch Casino & Resort

In related news, CEO John Farahi sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $100.63, for a total value of $100,630.00. Following the transaction, the chief executive officer owned 553,110 shares in the company, valued at approximately $55,659,459.30. This trade represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 25.52% of the company’s stock.

Institutional Investors Weigh In On Monarch Casino & Resort

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Monarch Casino & Resort by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,030,396 shares of the company’s stock worth $98,609,000 after acquiring an additional 5,667 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Monarch Casino & Resort by 4.3% during the 3rd quarter. American Century Companies Inc. now owns 491,400 shares of the company’s stock valued at $52,010,000 after acquiring an additional 20,328 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Monarch Casino & Resort by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 396,844 shares of the company’s stock valued at $37,983,000 after acquiring an additional 10,890 shares in the last quarter. Tributary Capital Management LLC boosted its position in Monarch Casino & Resort by 57.8% during the 3rd quarter. Tributary Capital Management LLC now owns 389,306 shares of the company’s stock worth $41,204,000 after purchasing an additional 142,621 shares during the period. Finally, Invesco Ltd. boosted its position in Monarch Casino & Resort by 38.2% during the 4th quarter. Invesco Ltd. now owns 194,371 shares of the company’s stock worth $18,601,000 after purchasing an additional 53,745 shares during the period. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Monarch Casino & Resort Price Performance

Shares of MCRI stock opened at $98.54 on Wednesday. Monarch Casino & Resort has a 1-year low of $69.99 and a 1-year high of $113.88. The firm’s 50-day simple moving average is $94.22 and its 200-day simple moving average is $96.98. The firm has a market cap of $1.76 billion, a P/E ratio of 18.15 and a beta of 1.29.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.12). The company had revenue of $140.00 million for the quarter, compared to analyst estimates of $139.39 million. Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the company posted $0.22 EPS. Analysts expect that Monarch Casino & Resort will post 5.13 earnings per share for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.2%. Monarch Casino & Resort’s payout ratio is presently 22.10%.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company’s flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property’s showroom.

Monarch’s revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.