Monarch Casino & Resort (NASDAQ:MCRI) Price Target Raised to $125.00 at Truist Financial

Monarch Casino & Resort (NASDAQ:MCRI) had its price objective upped by Truist Financial from $120.00 to $125.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also commented on MCRI. Weiss Ratings reiterated a “buy (b-)” rating on shares of Monarch Casino & Resort in a research note on Monday, December 29th. Wells Fargo & Company lifted their price objective on Monarch Casino & Resort from $93.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Jefferies Financial Group restated a “hold” rating and set a $112.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, December 24th. Finally, Zacks Research lowered Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $109.50.

Monarch Casino & Resort Stock Performance

Monarch Casino & Resort stock opened at $114.24 on Wednesday. The business’s 50-day simple moving average is $97.49 and its 200-day simple moving average is $95.82. The firm has a market capitalization of $2.03 billion, a PE ratio of 19.36 and a beta of 1.30. Monarch Casino & Resort has a 52 week low of $76.00 and a 52 week high of $114.27.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.37. The business had revenue of $136.55 million for the quarter, compared to analyst estimates of $128.49 million. Monarch Casino & Resort had a return on equity of 20.02% and a net margin of 19.62%.The firm’s revenue was up 8.9% compared to the same quarter last year. Research analysts forecast that Monarch Casino & Resort will post 5.95 earnings per share for the current year.

Monarch Casino & Resort Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, June 1st. Monarch Casino & Resort’s payout ratio is presently 22.10%.

Insiders Place Their Bets

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of Monarch Casino & Resort stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $99.00, for a total transaction of $198,000.00. Following the sale, the chief executive officer directly owned 536,304 shares of the company’s stock, valued at approximately $53,094,096. The trade was a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 25.52% of the company’s stock.

Institutional Investors Weigh In On Monarch Casino & Resort

Institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its holdings in Monarch Casino & Resort by 4.3% during the third quarter. American Century Companies Inc. now owns 491,400 shares of the company’s stock valued at $52,010,000 after purchasing an additional 20,328 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Monarch Casino & Resort during the third quarter valued at approximately $1,348,000. Tributary Capital Management LLC boosted its holdings in Monarch Casino & Resort by 57.8% during the third quarter. Tributary Capital Management LLC now owns 389,306 shares of the company’s stock valued at $41,204,000 after purchasing an additional 142,621 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Monarch Casino & Resort by 32.3% during the third quarter. Public Sector Pension Investment Board now owns 57,285 shares of the company’s stock valued at $6,063,000 after purchasing an additional 13,976 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC acquired a new stake in Monarch Casino & Resort during the third quarter valued at approximately $2,214,000. 62.37% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Monarch Casino & Resort

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 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.