Monarch Casino & Resort (NASDAQ:MCRI) Announces Earnings Results, Beats Estimates By $0.10 EPS

Monarch Casino & Resort (NASDAQ:MCRI) posted its quarterly earnings data on Wednesday. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.37 by $0.10, Yahoo Finance reports. The company had revenue of $137.87 million during the quarter, compared to analyst estimates of $134.50 million. Monarch Casino & Resort had a return on equity of 17.05% and a net margin of 16.31%. During the same period in the previous year, the business earned $1.38 EPS.

Monarch Casino & Resort Stock Up 0.8 %

Shares of Monarch Casino & Resort stock traded up $0.65 during mid-day trading on Friday, hitting $79.08. The stock had a trading volume of 87,575 shares, compared to its average volume of 123,423. The firm has a market cap of $1.46 billion, a P/E ratio of 18.43 and a beta of 1.73. The firm has a 50-day moving average of $75.90 and a two-hundred day moving average of $71.52. Monarch Casino & Resort has a 12-month low of $57.88 and a 12-month high of $80.22.

Monarch Casino & Resort Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.20 annualized dividend and a yield of 1.52%. Monarch Casino & Resort’s payout ratio is 28.04%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Stifel Nicolaus boosted their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday. Truist Financial raised their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research note on Wednesday. Macquarie reaffirmed a “neutral” rating and set a $76.00 price objective on shares of Monarch Casino & Resort in a research note on Thursday, July 25th. Finally, StockNews.com upgraded Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research report on Monday.

About Monarch Casino & Resort

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.