Monarch Casino & Resort, Inc. (NASDAQ:MCRI – Get Free Report) announced a quarterly dividend on Monday, February 6th, Zacks reports. Stockholders of record on Sunday, September 1st will be given a dividend of 0.30 per share on Sunday, September 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Friday, August 30th.
Monarch Casino & Resort has a payout ratio of 24.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Monarch Casino & Resort to earn $4.94 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 24.3%.
Monarch Casino & Resort Stock Up 1.9 %
Shares of NASDAQ:MCRI opened at $75.56 on Thursday. The business has a fifty day moving average of $71.36 and a two-hundred day moving average of $69.96. The stock has a market cap of $1.42 billion, a P/E ratio of 17.86 and a beta of 1.74. Monarch Casino & Resort has a 52-week low of $56.25 and a 52-week high of $80.22.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on MCRI shares. Macquarie restated a “neutral” rating and issued a $76.00 price objective on shares of Monarch Casino & Resort in a report on Thursday, July 25th. Truist Financial lifted their target price on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, July 25th.
View Our Latest Analysis on Monarch Casino & Resort
Insider Buying and Selling
In other news, CEO John Farahi sold 2,000 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $68.00, for a total transaction of $136,000.00. Following the sale, the chief executive officer now owns 525,310 shares of the company’s stock, valued at $35,721,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.94% of the stock is owned by insiders.
About Monarch Casino & Resort
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.
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