Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Given Consensus Recommendation of “Hold” by Analysts

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $94.60.

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Monarch Casino & Resort from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 22nd. Zacks Research cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Stifel Nicolaus lifted their price objective on shares of Monarch Casino & Resort from $92.00 to $97.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Truist Financial lifted their price objective on shares of Monarch Casino & Resort from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Monarch Casino & Resort in a research report on Tuesday, October 14th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Illinois Municipal Retirement Fund boosted its stake in Monarch Casino & Resort by 3.9% during the first quarter. Illinois Municipal Retirement Fund now owns 6,766 shares of the company’s stock worth $526,000 after buying an additional 254 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Monarch Casino & Resort during the 1st quarter worth about $319,000. Raymond James Financial Inc. boosted its stake in shares of Monarch Casino & Resort by 9.2% during the 1st quarter. Raymond James Financial Inc. now owns 84,655 shares of the company’s stock worth $6,582,000 after purchasing an additional 7,115 shares during the period. Jane Street Group LLC boosted its stake in shares of Monarch Casino & Resort by 12.2% during the 1st quarter. Jane Street Group LLC now owns 156,346 shares of the company’s stock worth $12,156,000 after purchasing an additional 17,027 shares during the period. Finally, Natixis Advisors LLC purchased a new position in shares of Monarch Casino & Resort during the 1st quarter worth about $803,000. 62.37% of the stock is owned by hedge funds and other institutional investors.

Monarch Casino & Resort Stock Down 3.4%

Shares of Monarch Casino & Resort stock opened at $89.05 on Thursday. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 16.07 and a beta of 1.49. The business has a 50-day moving average price of $100.58 and a 200-day moving average price of $92.36. Monarch Casino & Resort has a twelve month low of $69.99 and a twelve month high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.06. The business had revenue of $142.81 million during the quarter, compared to analysts’ expectations of $145.54 million. Monarch Casino & Resort had a return on equity of 19.33% and a net margin of 19.26%. On average, equities analysts expect 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 Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.30 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.3%. Monarch Casino & Resort’s payout ratio is 21.66%.

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.