Monarch Casino & Resort (NASDAQ:MCRI) Posts Earnings Results, Misses Expectations By $0.02 EPS

Monarch Casino & Resort (NASDAQ:MCRI) posted its quarterly earnings results on Wednesday. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.02), Yahoo Finance reports. The business had revenue of $121.66 million for the quarter, compared to analysts’ expectations of $122.13 million. Monarch Casino & Resort had a return on equity of 17.22% and a net margin of 16.40%. During the same period in the prior year, the business posted $0.90 earnings per share.

Monarch Casino & Resort Price Performance

Monarch Casino & Resort stock traded up $0.38 during trading hours on Friday, hitting $66.92. The stock had a trading volume of 34,647 shares, compared to its average volume of 115,278. Monarch Casino & Resort has a 1-year low of $56.25 and a 1-year high of $75.52. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 15.81 and a beta of 1.66. The stock’s fifty day moving average is $70.75 and its two-hundred day moving average is $67.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.61 and a quick ratio of 0.55.

Monarch Casino & Resort Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.79%. Monarch Casino & Resort’s payout ratio is 28.37%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MCRI. Truist Financial boosted their target price on shares of Monarch Casino & Resort from $72.00 to $74.00 and gave the stock a “hold” rating in a research note on Thursday, February 15th. StockNews.com raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $70.00 price target on shares of Monarch Casino & Resort in a report on Friday, January 5th. Finally, Macquarie raised their price objective on shares of Monarch Casino & Resort from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Thursday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wyoming purchased a new position in Monarch Casino & Resort during the fourth quarter worth $28,000. UBS Group AG raised its position in shares of Monarch Casino & Resort by 214.2% in the 3rd quarter. UBS Group AG now owns 1,458 shares of the company’s stock worth $82,000 after buying an additional 994 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Monarch Casino & Resort in the 4th quarter valued at about $108,000. Captrust Financial Advisors grew its holdings in shares of Monarch Casino & Resort by 30.0% during the 1st quarter. Captrust Financial Advisors now owns 1,593 shares of the company’s stock worth $139,000 after purchasing an additional 368 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Monarch Casino & Resort by 190.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the company’s stock worth $189,000 after purchasing an additional 1,421 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

Monarch Casino & Resort Company Profile

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.