Monarch Casino & Resort (NASDAQ:MCRI) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Monarch Casino & Resort (NASDAQ:MCRI) posted its quarterly earnings data on Wednesday. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.10, Yahoo Finance reports. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. The company had revenue of $137.87 million for the quarter, compared to the consensus estimate of $134.50 million. During the same quarter in the previous year, the firm posted $1.38 EPS.

Monarch Casino & Resort Trading Up 0.8 %

NASDAQ MCRI traded up $0.65 on Friday, reaching $79.08. The company’s stock had a trading volume of 87,575 shares, compared to its average volume of 123,423. The firm has a market cap of $1.46 billion, a PE ratio of 18.43 and a beta of 1.73. The business has a 50-day moving average price of $75.90 and a 200 day moving average price of $71.52. Monarch Casino & Resort has a 52 week low of $57.88 and a 52 week high of $80.22.

Monarch Casino & Resort Dividend Announcement

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

Analyst Ratings Changes

MCRI has been the topic of several research reports. Macquarie restated a “neutral” rating and set a $76.00 price objective on shares of Monarch Casino & Resort in a report on Thursday, July 25th. Truist Financial boosted their price objective on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a report on Wednesday. Stifel Nicolaus upped their target price on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday. Finally, StockNews.com raised shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research note on Monday.

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.