Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $99.80.

Several equities research analysts have recently issued reports on MCRI shares. Wells Fargo & Company raised their target price on Monarch Casino & Resort from $92.00 to $93.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Zacks Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $112.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday, December 24th.

Monarch Casino & Resort Stock Down 3.3%

MCRI stock opened at $93.98 on Friday. The firm has a market cap of $1.68 billion, a PE ratio of 17.31 and a beta of 1.29. The business has a 50 day moving average of $95.39 and a 200-day moving average of $96.43. Monarch Casino & Resort has a 12-month low of $69.99 and a 12-month high of $113.88.

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

Monarch Casino & Resort Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.30 per share. The ex-dividend date was Monday, March 2nd. This represents a $1.20 annualized dividend and a dividend yield of 1.3%. Monarch Casino & Resort’s dividend payout ratio (DPR) is presently 22.10%.

Insider Activity at Monarch Casino & Resort

In related news, CEO John Farahi sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $99.00, for a total value of $198,000.00. Following the transaction, the chief executive officer owned 536,304 shares in the company, valued at approximately $53,094,096. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 25.52% of the company’s stock.

Institutional Trading of Monarch Casino & Resort

A number of large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in shares of Monarch Casino & Resort by 199.1% in the third quarter. Farther Finance Advisors LLC now owns 329 shares of the company’s stock valued at $35,000 after buying an additional 219 shares during the period. Osaic Holdings Inc. increased its holdings in Monarch Casino & Resort by 210.0% in the 2nd quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock worth $40,000 after acquiring an additional 315 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Monarch Casino & Resort in the 4th quarter worth about $40,000. USA Financial Formulas bought a new stake in Monarch Casino & Resort in the 3rd quarter valued at about $47,000. Finally, TD Private Client Wealth LLC raised its stake in Monarch Casino & Resort by 57.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 594 shares of the company’s stock valued at $63,000 after acquiring an additional 216 shares during the period. 62.37% of the stock is owned by hedge funds and other institutional investors.

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.