Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives $99.80 Average PT from Analysts

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $99.80.

A number of equities analysts recently commented on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th. Jefferies Financial Group reaffirmed a “hold” rating and set a $112.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday, December 24th. Wells Fargo & Company boosted their target price on Monarch Casino & Resort from $92.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Wall Street Zen downgraded shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Stifel Nicolaus increased their price objective on Monarch Casino & Resort from $92.00 to $97.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd.

Insiders Place Their Bets

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the business’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. The trade was a 0.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 25.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Monarch Casino & Resort

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Monarch Casino & Resort by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 396,844 shares of the company’s stock worth $37,983,000 after acquiring an additional 10,890 shares during the period. AlphaQuest LLC increased its holdings in Monarch Casino & Resort by 303.4% during the 4th quarter. AlphaQuest LLC now owns 21,701 shares of the company’s stock valued at $2,077,000 after acquiring an additional 16,321 shares in the last quarter. MQS Management LLC purchased a new position in shares of Monarch Casino & Resort during the 4th quarter worth approximately $359,000. PNC Financial Services Group Inc. increased its position in Monarch Casino & Resort by 34.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,429 shares of the company’s stock worth $232,000 after buying an additional 616 shares in the last quarter. Finally, Strs Ohio increased its position in Monarch Casino & Resort by 2.7% during the 4th quarter. Strs Ohio now owns 7,500 shares of the company’s stock worth $718,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

Monarch Casino & Resort Price Performance

Shares of MCRI stock opened at $98.91 on Friday. Monarch Casino & Resort has a 1-year low of $69.99 and a 1-year high of $113.88. The firm has a market cap of $1.81 billion, a PE ratio of 18.22 and a beta of 1.34. The company has a 50-day moving average of $94.93 and a two-hundred day moving average of $97.63.

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

Monarch Casino & Resort Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, March 2nd. Monarch Casino & Resort’s dividend payout ratio (DPR) is 22.10%.

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.