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

by · The Markets Daily

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

Monarch Casino & Resort Price Performance

MCRI traded up $0.65 during midday trading on Friday, hitting $79.08. 87,575 shares of the company’s stock traded hands, compared to its average volume of 123,423. The company has a market cap of $1.46 billion, a PE ratio of 18.43 and a beta of 1.73. The stock’s fifty day simple moving average is $75.90 and its 200-day simple moving average is $71.52. Monarch Casino & Resort has a one year low of $57.88 and a one year high of $80.22.

Monarch Casino & Resort Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors 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 dividend on an annualized basis and a yield of 1.52%. Monarch Casino & Resort’s dividend payout ratio is currently 28.04%.

Wall Street Analysts Forecast Growth

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

View Our Latest Research Report on MCRI

About Monarch Casino & Resort

(Get Free Report)

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.

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