Monarch Casino & Resort, Inc. (MCRI) to Issue Quarterly Dividend of $0.30 on December 15th

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) declared a quarterly dividend on Wednesday, October 23rd, Zacks reports. Shareholders of record on Sunday, December 1st will be paid a dividend of 0.30 per share on Sunday, December 15th. This represents a $1.20 annualized dividend and a yield of 1.53%. The ex-dividend date is Friday, November 29th.

Monarch Casino & Resort has a payout ratio of 24.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Monarch Casino & Resort to earn $4.94 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 24.3%.

Monarch Casino & Resort Price Performance

Shares of MCRI stock opened at $78.43 on Friday. The firm has a market cap of $1.47 billion, a P/E ratio of 18.54 and a beta of 1.73. Monarch Casino & Resort has a 1-year low of $57.88 and a 1-year high of $80.22. The firm has a fifty day moving average of $75.90 and a two-hundred day moving average of $71.52.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. During the same quarter last year, the company posted $1.38 earnings per share. On average, sell-side analysts expect that Monarch Casino & Resort will post 4.62 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.