Truist Financial Cuts Monarch Casino & Resort (NASDAQ:MCRI) Price Target to $100.00

Monarch Casino & Resort (NASDAQ:MCRI) had its price objective decreased by Truist Financial from $105.00 to $100.00 in a research note published on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group increased their target price on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Stifel Nicolaus lifted their target price on shares of Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their price target on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a report on Wednesday, February 12th. Finally, StockNews.com lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Monarch Casino & Resort currently has an average rating of “Hold” and a consensus price target of $88.60.

Monarch Casino & Resort Price Performance

NASDAQ:MCRI opened at $77.49 on Wednesday. The firm’s 50-day moving average price is $81.39 and its 200-day moving average price is $81.98. The company has a market capitalization of $1.43 billion, a PE ratio of 15.65 and a beta of 1.57. Monarch Casino & Resort has a 1-year low of $64.58 and a 1-year high of $96.11.

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

Monarch Casino & Resort Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 1.55%. Monarch Casino & Resort’s dividend payout ratio is presently 24.24%.

Hedge Funds Weigh In On Monarch Casino & Resort

A number of institutional investors and hedge funds have recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in Monarch Casino & Resort during the fourth quarter valued at $53,000. KBC Group NV grew its stake in shares of Monarch Casino & Resort by 67.8% during the 4th quarter. KBC Group NV now owns 980 shares of the company’s stock valued at $77,000 after purchasing an additional 396 shares during the period. Independence Bank of Kentucky purchased a new stake in shares of Monarch Casino & Resort during the 4th quarter valued at about $93,000. Nisa Investment Advisors LLC lifted its stake in shares of Monarch Casino & Resort by 30.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after purchasing an additional 400 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of Monarch Casino & Resort by 1,700.8% in the 1st quarter. Bessemer Group Inc. now owns 2,125 shares of the company’s stock worth $165,000 after purchasing an additional 2,007 shares during the period. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Monarch Casino & Resort Company Profile

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.