Monarch Casino & Resort (NASDAQ:MCRI) Price Target Raised to $77.00

Monarch Casino & Resort (NASDAQ:MCRI) had its price target increased by Stifel Nicolaus from $72.00 to $77.00 in a research report report published on Thursday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

MCRI has been the topic of a number of other research reports. StockNews.com upgraded Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 21st. Truist Financial increased their price target on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Macquarie reissued a “neutral” rating and set a $76.00 price target on shares of Monarch Casino & Resort in a research report on Thursday, July 25th.

Monarch Casino & Resort Trading Up 0.8 %

Shares of NASDAQ MCRI opened at $79.08 on Thursday. The firm has a market cap of $1.46 billion, a P/E ratio of 18.48 and a beta of 1.73. Monarch Casino & Resort has a 1-year low of $57.88 and a 1-year high of $80.22. The business’s 50 day moving average is $75.99 and its 200-day moving average is $71.55.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.10. The company had revenue of $137.87 million for the quarter, compared to analyst estimates of $134.50 million. Monarch Casino & Resort had a return on equity of 17.05% and a net margin of 16.31%. During the same quarter last year, the company earned $1.38 earnings per share. Analysts forecast that Monarch Casino & Resort will post 4.62 EPS for the current year.

Monarch Casino & Resort Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, November 29th. Monarch Casino & Resort’s dividend payout ratio is currently 28.04%.

Institutional Investors Weigh In On Monarch Casino & Resort

A number of large investors have recently added to or reduced their stakes in MCRI. UniSuper Management Pty Ltd acquired a new stake in shares of Monarch Casino & Resort in the 1st quarter valued at $536,000. Manning & Napier Advisors LLC acquired a new stake in shares of Monarch Casino & Resort in the 2nd quarter valued at $3,307,000. Westwood Holdings Group Inc. acquired a new stake in shares of Monarch Casino & Resort in the 1st quarter valued at $2,822,000. SG Americas Securities LLC acquired a new stake in shares of Monarch Casino & Resort in the 2nd quarter valued at $751,000. Finally, US Bancorp DE boosted its holdings in shares of Monarch Casino & Resort by 8.6% in the 1st quarter. US Bancorp DE now owns 6,124 shares of the company’s stock valued at $459,000 after purchasing an additional 483 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

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.