Analysts Set Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Price Target at $99.80

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $99.80.

MCRI has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on Monarch Casino & Resort from $92.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a research report on Monday, December 29th. Jefferies Financial Group restated a “hold” rating and issued a $112.00 price objective on shares of Monarch Casino & Resort in a report on Wednesday, December 24th. Finally, Zacks Research raised shares of Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 6th.

Monarch Casino & Resort Price Performance

NASDAQ MCRI opened at $97.90 on Wednesday. Monarch Casino & Resort has a 1 year low of $69.99 and a 1 year high of $113.88. The stock has a market capitalization of $1.75 billion, a PE ratio of 18.03 and a beta of 1.29. The business’s 50-day moving average is $94.26 and its 200 day moving average is $96.90.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Wednesday, February 4th. The company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.12). Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.The business had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $139.39 million. During the same quarter last year, the business posted $0.22 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Monarch Casino & Resort will post 5.13 earnings per share for the current year.

Monarch Casino & Resort Dividend Announcement

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

Insider Activity

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

Hedge Funds Weigh In On Monarch Casino & Resort

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCRI. Farther Finance Advisors LLC increased its stake in shares of Monarch Casino & Resort by 199.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 329 shares of the company’s stock worth $35,000 after acquiring an additional 219 shares in the last quarter. Osaic Holdings Inc. grew its holdings in Monarch Casino & Resort by 210.0% in the second quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock worth $40,000 after purchasing an additional 315 shares during the period. Kestra Advisory Services LLC purchased a new stake in Monarch Casino & Resort in the fourth quarter worth about $40,000. USA Financial Formulas bought a new position in shares of Monarch Casino & Resort during the third quarter valued at approximately $47,000. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Monarch Casino & Resort by 57.1% during the third quarter. TD Private Client Wealth LLC now owns 594 shares of the company’s stock valued at $63,000 after purchasing an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

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.