Stifel Nicolaus Lowers Monarch Casino & Resort (NASDAQ:MCRI) Price Target to $81.00

Monarch Casino & Resort (NASDAQ:MCRI) had its price objective trimmed by Stifel Nicolaus from $90.00 to $81.00 in a report released on Wednesday,Benzinga reports. The firm currently has a hold rating on the stock.

A number of other analysts have also commented on the company. Truist Financial dropped their price target on Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday. Jefferies Financial Group increased their target price on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company upped their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $88.60.

Monarch Casino & Resort Stock Up 2.4 %

Shares of NASDAQ:MCRI opened at $77.82 on Wednesday. The firm has a market capitalization of $1.44 billion, a PE ratio of 15.72 and a beta of 1.57. The company has a 50-day moving average price of $82.03 and a two-hundred day moving average price of $81.97. Monarch Casino & Resort has a twelve month low of $64.58 and a twelve month high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. The company had revenue of $125.39 million during the quarter, compared to the consensus estimate of $122.70 million. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. Analysts anticipate that Monarch Casino & Resort will post 5.13 earnings per share for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, May 30th. Monarch Casino & Resort’s payout ratio is currently 24.24%.

Institutional Investors Weigh In On Monarch Casino & Resort

A number of institutional investors have recently modified their holdings of MCRI. Fuller & Thaler Asset Management Inc. acquired a new position in Monarch Casino & Resort in the 4th quarter valued at $19,346,000. Raymond James Financial Inc. acquired a new position in Monarch Casino & Resort in the 4th quarter valued at $6,118,000. JPMorgan Chase & Co. increased its stake in shares of Monarch Casino & Resort by 8.6% during the 4th quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company’s stock valued at $72,488,000 after acquiring an additional 72,764 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Monarch Casino & Resort by 103.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 133,673 shares of the company’s stock valued at $10,547,000 after purchasing an additional 67,973 shares during the last quarter. Finally, Orvieto Partners L.P. acquired a new stake in Monarch Casino & Resort during the fourth quarter worth about $4,994,000. 62.37% of the stock is owned by institutional investors and hedge funds.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.