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

Monarch Casino & Resort (NASDAQ:MCRI) posted its quarterly earnings results 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 firm had revenue of $137.87 million for the quarter, compared to the consensus estimate of $134.50 million. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. During the same period last year, the firm posted $1.38 earnings per share.

Monarch Casino & Resort Stock Performance

Shares of NASDAQ MCRI 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. Monarch Casino & Resort has a 1 year low of $57.88 and a 1 year high of $80.22. The business has a 50 day moving average price of $75.90 and a two-hundred day moving average price of $71.52. The firm has a market cap of $1.46 billion, a P/E ratio of 18.43 and a beta of 1.73.

Monarch Casino & Resort Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.