Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Given Consensus Recommendation of “Hold” by Brokerages

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has been given a consensus rating of “Hold” by the six analysts that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $109.50.

Several equities research analysts recently weighed in on MCRI shares. Stifel Nicolaus boosted their price target on shares of Monarch Casino & Resort from $97.00 to $102.00 and gave the stock a “hold” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of Monarch Casino & Resort from $97.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Weiss Ratings restated a “buy (b-)” rating on shares of Monarch Casino & Resort in a research report on Monday, December 29th. Truist Financial boosted their price target on shares of Monarch Casino & Resort from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Jefferies Financial Group restated a “hold” rating and issued a $112.00 price target on shares of Monarch Casino & Resort in a research report on Wednesday, December 24th.

Monarch Casino & Resort News Summary

Here are the key news stories impacting Monarch Casino & Resort this week:

• Positive Sentiment: Record Q1 results — Monarch reported revenue of $136.6M (up 8.9% YoY), net income of $27.6M (up 38.9%), adjusted EBITDA up 19%, and diluted EPS $1.52 which beat consensus. Management described the quarter as a record. GlobeNewswire: Q1 Results
• Positive Sentiment: Analyst upgrade/positive take: Truist raised its price target to $125 and kept a “buy” rating — implying roughly ~9% upside from the current level, supporting further upside potential. Benzinga
• Positive Sentiment: Dividend increase/return of capital — the company declared a $0.30 quarterly dividend (record June 1; payable June 15), representing an annualized yield near 1.1%, which supports shareholder returns and can attract income-focused investors.
• Negative Sentiment: Analyst caution: Wells Fargo raised its target slightly to $99 but kept an “equal weight” rating; that target is below the current trading level and implies downside from here. Benzinga
• Negative Sentiment: Analyst caution: Stifel raised its target to $102 with a “hold” rating; that target is also below the current price and signals limited upside per that shop. Benzinga TickerReport

Monarch Casino & Resort Price Performance

Monarch Casino & Resort stock opened at $114.24 on Thursday. The stock has a market cap of $2.03 billion, a P/E ratio of 19.36 and a beta of 1.30. Monarch Casino & Resort has a 1 year low of $76.00 and a 1 year high of $114.27. The firm’s 50 day moving average price is $97.49 and its 200-day moving average price is $95.82.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.37. Monarch Casino & Resort had a net margin of 19.62% and a return on equity of 20.02%. The firm had revenue of $136.55 million for the quarter, compared to analysts’ expectations of $128.49 million. The company’s revenue was up 8.9% on a year-over-year basis. As a group, equities analysts expect that Monarch Casino & Resort will post 5.95 EPS for the current year.

Monarch Casino & Resort Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, June 1st. Monarch Casino & Resort’s payout ratio is currently 22.10%.

Insider Buying and Selling

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of Monarch Casino & Resort stock in a transaction on Monday, March 16th. The shares were sold at an average price of $99.00, for a total transaction of $198,000.00. Following the completion of the transaction, the chief executive officer directly owned 536,304 shares of the company’s stock, valued at $53,094,096. The trade was a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 25.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. GHP Investment Advisors Inc. boosted its stake in Monarch Casino & Resort by 12.4% during the first quarter. GHP Investment Advisors Inc. now owns 19,604 shares of the company’s stock worth $1,874,000 after buying an additional 2,164 shares during the period. Louisiana State Employees Retirement System purchased a new position in Monarch Casino & Resort during the first quarter worth $516,000. Hsbc Holdings PLC boosted its stake in Monarch Casino & Resort by 26.1% during the fourth quarter. Hsbc Holdings PLC now owns 6,269 shares of the company’s stock worth $599,000 after buying an additional 1,299 shares during the period. Aristides Capital LLC boosted its stake in Monarch Casino & Resort by 18.6% during the fourth quarter. Aristides Capital LLC now owns 3,174 shares of the company’s stock worth $304,000 after buying an additional 498 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Monarch Casino & Resort by 2,489.3% during the fourth quarter. Pacer Advisors Inc. now owns 50,311 shares of the company’s stock worth $4,815,000 after buying an additional 48,368 shares during the period. 62.37% of the stock is owned by hedge funds and other institutional investors.

About Monarch Casino & Resort

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.