Monarch Casino & Resort (NASDAQ:MCRI) Given New $82.00 Price Target at Truist Financial

Monarch Casino & Resort (NASDAQ:MCRI) had its target price lifted by Truist Financial from $75.00 to $82.00 in a research note published on Wednesday morning, Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other analysts have also recently issued reports on MCRI. Macquarie reiterated a “neutral” rating and issued a $76.00 target price on shares of Monarch Casino & Resort in a research note on Thursday, July 25th. StockNews.com upgraded shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 21st.

Monarch Casino & Resort Stock Up 0.8 %

NASDAQ MCRI opened at $79.08 on Wednesday. The stock has a market capitalization of $1.46 billion, a PE ratio of 18.48 and a beta of 1.73. The company has a 50 day moving average price of $75.99 and a two-hundred day moving average price of $71.55. Monarch Casino & Resort has a 12-month low of $57.88 and a 12-month high of $80.22.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.10. The firm had revenue of $137.87 million during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $1.38 earnings per share. As a group, equities analysts anticipate that Monarch Casino & Resort will post 4.62 EPS for the current year.

Monarch Casino & Resort Announces Dividend

The firm 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. This represents a $1.20 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Friday, November 29th. Monarch Casino & Resort’s dividend payout ratio (DPR) is currently 28.04%.

Institutional Investors Weigh In On Monarch Casino & Resort

Several hedge funds have recently modified their holdings of MCRI. Texas Permanent School Fund Corp increased its position in Monarch Casino & Resort by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 11,682 shares of the company’s stock worth $876,000 after acquiring an additional 152 shares during the period. Trust Point Inc. increased its holdings in shares of Monarch Casino & Resort by 1.5% during the 3rd quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock worth $873,000 after purchasing an additional 162 shares during the period. GAMMA Investing LLC raised its position in shares of Monarch Casino & Resort by 61.0% during the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after buying an additional 178 shares during the last quarter. Pitcairn Co. raised its holdings in Monarch Casino & Resort by 4.3% in the 1st quarter. Pitcairn Co. now owns 5,698 shares of the company’s stock valued at $427,000 after acquiring an additional 235 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Monarch Casino & Resort by 1.4% during the 2nd quarter. Sei Investments Co. now owns 19,697 shares of the company’s stock worth $1,342,000 after purchasing an additional 271 shares in the last quarter. 62.37% of the stock is owned by institutional investors.

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.