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

Monarch Casino & Resort (NASDAQ:MCRI) released its quarterly earnings data 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. Monarch Casino & Resort had a net margin of 16.40% and a return on equity of 17.22%. The firm had revenue of $121.66 million for the quarter, compared to the consensus estimate of $122.13 million. During the same quarter in the prior year, the firm posted $0.90 earnings per share.

Monarch Casino & Resort Price Performance

Shares of Monarch Casino & Resort stock traded up $0.38 on Friday, reaching $66.92. 34,647 shares of the stock were exchanged, compared to its average volume of 115,278. The firm’s 50 day moving average is $70.75 and its 200-day moving average is $67.04. The firm has a market cap of $1.26 billion, a PE ratio of 15.81 and a beta of 1.66. Monarch Casino & Resort has a one year low of $56.25 and a one year high of $75.52. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.55 and a current ratio of 0.61.

Monarch Casino & Resort Announces Dividend

The business also recently announced 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

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its stake in shares of Monarch Casino & Resort by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,553 shares of the company’s stock worth $391,000 after buying an additional 162 shares during the last quarter. Credit Suisse AG raised its holdings in shares of Monarch Casino & Resort by 1.0% in the 4th quarter. Credit Suisse AG now owns 18,228 shares of the company’s stock valued at $1,402,000 after acquiring an additional 177 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Monarch Casino & Resort by 0.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 36,495 shares of the company’s stock valued at $3,183,000 after acquiring an additional 185 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Monarch Casino & Resort by 0.6% during the second quarter. Legal & General Group Plc now owns 31,231 shares of the company’s stock worth $1,832,000 after purchasing an additional 195 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in Monarch Casino & Resort by 5.3% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 3,991 shares of the company’s stock worth $281,000 after buying an additional 200 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.