Monarch Casino & Resort (NASDAQ:MCRI) Price Target Raised to $102.00 at Stifel Nicolaus

Monarch Casino & Resort (NASDAQ:MCRI) had its target price increased by Stifel Nicolaus from $97.00 to $102.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Other analysts have also recently issued research reports about the stock. Truist Financial lifted their price target on shares of Monarch Casino & Resort from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of Monarch Casino & Resort from $93.00 to $97.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th. Jefferies Financial Group reiterated a “hold” rating and issued a $112.00 price target on shares of Monarch Casino & Resort in a report on Wednesday, December 24th. Finally, Zacks Research cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Monarch Casino & Resort has an average rating of “Hold” and an average price target of $109.50.

Monarch Casino & Resort Trading Up 15.9%

Shares of NASDAQ:MCRI opened at $114.24 on Wednesday. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 19.36 and a beta of 1.30. The company has a 50-day moving average price of $97.49 and a 200-day moving average price of $95.82. Monarch Casino & Resort has a 12 month low of $76.00 and a 12 month high of $114.27.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.15 by $0.37. The firm had revenue of $136.55 million during the quarter, compared to the consensus estimate of $128.49 million. Monarch Casino & Resort had a net margin of 19.62% and a return on equity of 20.02%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, research analysts forecast that Monarch Casino & Resort will post 5.95 EPS for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.30 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.20 annualized dividend and a yield of 1.1%. Monarch Casino & Resort’s payout ratio is 22.10%.

Insider Activity at Monarch Casino & Resort

In other news, CEO John Farahi sold 2,000 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $99.00, for a total transaction of $198,000.00. Following the sale, the chief executive officer owned 536,304 shares in the company, valued at approximately $53,094,096. The trade was a 0.37% decrease in their position. The sale 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 Trading of Monarch Casino & Resort

A number of hedge funds have recently modified their holdings of MCRI. Tributary Capital Management LLC boosted its holdings in shares of Monarch Casino & Resort by 57.8% during the 3rd quarter. Tributary Capital Management LLC now owns 389,306 shares of the company’s stock valued at $41,204,000 after buying an additional 142,621 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of Monarch Casino & Resort by 77.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 188,498 shares of the company’s stock valued at $19,951,000 after buying an additional 82,035 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Monarch Casino & Resort during the 4th quarter valued at $7,244,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Monarch Casino & Resort by 64.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 178,976 shares of the company’s stock valued at $18,943,000 after buying an additional 70,185 shares in the last quarter. Finally, Clark Capital Management Group Inc. bought a new stake in shares of Monarch Casino & Resort during the 3rd quarter valued at $6,192,000. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort News Summary

Here are the key news stories impacting Monarch Casino & Resort this week:

• Positive Sentiment: Record Q1 results — Monarch reported revenue of $136.6M (up 8.9% YoY), net income of $27.6M (up 38.9%), adjusted EBITDA up 19%, and diluted EPS $1.52 which beat consensus. Management described the quarter as a record. GlobeNewswire: Q1 Results
• Positive Sentiment: Analyst upgrade/positive take: Truist raised its price target to $125 and kept a “buy” rating — implying roughly ~9% upside from the current level, supporting further upside potential. Benzinga
• Positive Sentiment: Dividend increase/return of capital — the company declared a $0.30 quarterly dividend (record June 1; payable June 15), representing an annualized yield near 1.1%, which supports shareholder returns and can attract income-focused investors.
• Negative Sentiment: Analyst caution: Wells Fargo raised its target slightly to $99 but kept an “equal weight” rating; that target is below the current trading level and implies downside from here. Benzinga
• Negative Sentiment: Analyst caution: Stifel raised its target to $102 with a “hold” rating; that target is also below the current price and signals limited upside per that shop. Benzinga TickerReport

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.