Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Average Recommendation of “Hold” from Brokerages

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has earned a consensus rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $124.40.

MCRI has been the topic of several analyst reports. Jefferies Financial Group reissued a “hold” rating on shares of Monarch Casino & Resort in a research report on Thursday, July 2nd. Stifel Nicolaus raised their price target on Monarch Casino & Resort from $102.00 to $128.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Wells Fargo & Company dropped their price objective on shares of Monarch Casino & Resort from $116.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 21st. Wall Street Zen cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Truist Financial increased their target price on shares of Monarch Casino & Resort from $125.00 to $144.00 and gave the company a “buy” rating in a research note on Monday, July 20th.

Institutional Trading of Monarch Casino & Resort

Several institutional investors have recently added to or reduced their stakes in MCRI. GAMMA Investing LLC raised its holdings in shares of Monarch Casino & Resort by 7.6% in the second quarter. GAMMA Investing LLC now owns 1,791 shares of the company’s stock worth $236,000 after buying an additional 126 shares during the period. Mariner LLC boosted its holdings in Monarch Casino & Resort by 6.5% during the 3rd quarter. Mariner LLC now owns 2,493 shares of the company’s stock valued at $264,000 after acquiring an additional 152 shares during the period. Vident Advisory LLC boosted its holdings in Monarch Casino & Resort by 3.5% during the 2nd quarter. Vident Advisory LLC now owns 5,566 shares of the company’s stock valued at $481,000 after acquiring an additional 186 shares during the period. Panagora Asset Management Inc. grew its position in Monarch Casino & Resort by 6.0% in the 4th quarter. Panagora Asset Management Inc. now owns 3,490 shares of the company’s stock valued at $334,000 after acquiring an additional 198 shares during the last quarter. Finally, Strs Ohio grew its position in Monarch Casino & Resort by 2.7% in the 4th quarter. Strs Ohio now owns 7,500 shares of the company’s stock valued at $718,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Trading Down 2.4%

Shares of NASDAQ:MCRI opened at $117.53 on Wednesday. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 18.83 and a beta of 1.31. Monarch Casino & Resort has a 12 month low of $88.13 and a 12 month high of $135.93. The company has a 50-day moving average price of $124.57 and a 200 day moving average price of $114.01.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Monday, July 20th. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. The company had revenue of $142.60 million for the quarter, compared to analysts’ expectations of $142.85 million. Monarch Casino & Resort had a return on equity of 20.63% and a net margin of 20.40%.The firm’s revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts forecast that Monarch Casino & Resort will post 6.98 EPS for the current year.

Monarch Casino & Resort Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, September 1st. Monarch Casino & Resort’s dividend payout ratio is presently 19.23%.

About Monarch Casino & Resort

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.