Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $99.80.

MCRI has been the subject of several research analyst reports. Stifel Nicolaus lifted their price target on shares of Monarch Casino & Resort from $92.00 to $97.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $112.00 target price on shares of Monarch Casino & Resort in a research report on Wednesday, December 24th. Wells Fargo & Company upped their price target on Monarch Casino & Resort from $92.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Thursday. Wall Street Zen cut Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th.

Monarch Casino & Resort Stock Performance

Shares of MCRI stock opened at $98.87 on Friday. Monarch Casino & Resort has a fifty-two week low of $69.99 and a fifty-two week high of $113.88. The stock has a 50 day simple moving average of $94.88 and a two-hundred day simple moving average of $97.81. The company has a market cap of $1.80 billion, a P/E ratio of 18.21 and a beta of 1.34.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.12). The business had revenue of $140.00 million for the quarter, compared to the consensus estimate of $139.39 million. Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.Monarch Casino & Resort’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 earnings per share. On average, research analysts predict that Monarch Casino & Resort will post 5.13 earnings per share for the current year.

Monarch Casino & Resort Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, March 2nd. Monarch Casino & Resort’s payout ratio is 21.66%.

Insider Buying and Selling at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $100.63, for a total value of $100,630.00. Following the transaction, the chief executive officer directly owned 553,110 shares of the company’s stock, valued at approximately $55,659,459.30. This trade represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 25.52% of the company’s stock.

Hedge Funds Weigh In On Monarch Casino & Resort

Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its stake in Monarch Casino & Resort by 34.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,429 shares of the company’s stock valued at $232,000 after purchasing an additional 616 shares during the last quarter. Strs Ohio boosted its position in shares of Monarch Casino & Resort by 2.7% during the fourth quarter. Strs Ohio now owns 7,500 shares of the company’s stock valued at $718,000 after buying an additional 200 shares during the last quarter. Horizon Investments LLC boosted its position in shares of Monarch Casino & Resort by 14.9% during the fourth quarter. Horizon Investments LLC now owns 9,580 shares of the company’s stock valued at $917,000 after buying an additional 1,242 shares during the last quarter. UBS Group AG grew its holdings in Monarch Casino & Resort by 26.9% during the fourth quarter. UBS Group AG now owns 46,451 shares of the company’s stock worth $4,445,000 after buying an additional 9,855 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Monarch Casino & Resort by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,030,396 shares of the company’s stock valued at $98,609,000 after buying an additional 5,667 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company’s flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property’s showroom.

Monarch’s revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.