Monarch Casino & Resort (NASDAQ:MCRI) Price Target Raised to $76.00 at Macquarie

Monarch Casino & Resort (NASDAQ:MCRI) had its price target raised by Macquarie from $75.00 to $76.00 in a research note released on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts also recently issued reports on the company. StockNews.com raised Monarch Casino & Resort from a hold rating to a buy rating in a research note on Saturday, March 9th. Stifel Nicolaus reaffirmed a hold rating and set a $70.00 price target on shares of Monarch Casino & Resort in a research note on Friday, January 5th. Finally, Truist Financial lifted their price target on shares of Monarch Casino & Resort from $72.00 to $74.00 and gave the stock a hold rating in a report on Thursday, February 15th.

Monarch Casino & Resort Price Performance

Shares of NASDAQ:MCRI opened at $67.34 on Thursday. 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 current ratio of 0.51 and a quick ratio of 0.55. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 15.92 and a beta of 1.66. The firm has a 50 day simple moving average of $70.68 and a 200 day simple moving average of $67.13.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). The firm had revenue of $128.19 million during the quarter, compared to the consensus estimate of $119.33 million. Monarch Casino & Resort had a net margin of 16.40% and a return on equity of 17.13%. Research analysts predict that Monarch Casino & Resort will post 4.49 earnings per share for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, May 31st. Monarch Casino & Resort’s dividend payout ratio is presently 28.37%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming bought a new position in Monarch Casino & Resort during the fourth quarter worth $28,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Monarch Casino & Resort by 40.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 637 shares of the company’s stock valued at $40,000 after purchasing an additional 184 shares during the period. UBS Group AG boosted its position in shares of Monarch Casino & Resort by 214.2% during the 3rd quarter. UBS Group AG now owns 1,458 shares of the company’s stock valued at $82,000 after purchasing an additional 994 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Monarch Casino & Resort during the fourth quarter worth approximately $108,000. Finally, Captrust Financial Advisors increased its holdings in Monarch Casino & Resort by 30.0% in the first quarter. Captrust Financial Advisors now owns 1,593 shares of the company’s stock worth $139,000 after purchasing an additional 368 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

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.