Analysts Set Monarch Casino & Resort, Inc. (NASDAQ:MCRI) PT at $94.60

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has received a consensus rating of “Hold” from the seven brokerages that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $94.60.

Several research firms have weighed in on MCRI. Weiss Ratings reissued a “buy (b)” rating on shares of Monarch Casino & Resort in a research note on Monday, November 17th. Wells Fargo & Company increased their price objective on Monarch Casino & Resort from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 22nd. Stifel Nicolaus lifted their target price on shares of Monarch Casino & Resort from $92.00 to $97.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Wall Street Zen cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Zacks Research lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th.

Hedge Funds Weigh In On Monarch Casino & Resort

Institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in shares of Monarch Casino & Resort by 51.2% in the second quarter. Parallel Advisors LLC now owns 384 shares of the company’s stock worth $33,000 after purchasing an additional 130 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Monarch Casino & Resort by 199.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 329 shares of the company’s stock worth $35,000 after buying an additional 219 shares in the last quarter. Osaic Holdings Inc. raised its position in Monarch Casino & Resort by 210.0% in the 2nd quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock worth $40,000 after buying an additional 315 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Monarch Casino & Resort during the 3rd quarter valued at about $47,000. Finally, Vestcor Inc bought a new stake in shares of Monarch Casino & Resort in the first quarter worth approximately $58,000. 62.37% of the stock is currently owned by institutional investors.

Monarch Casino & Resort Trading Down 0.5%

Shares of NASDAQ MCRI opened at $96.96 on Monday. The stock has a fifty day simple moving average of $96.88 and a two-hundred day simple moving average of $94.71. 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 $1.77 billion, a price-to-earnings ratio of 17.50 and a beta of 1.48.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Tuesday, October 21st. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.06. The business had revenue of $142.81 million for the quarter, compared to analysts’ expectations of $145.54 million. Monarch Casino & Resort had a net margin of 19.26% and a return on equity of 19.33%. Analysts forecast that Monarch Casino & Resort will post 5.13 EPS for the current year.

Monarch Casino & Resort Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.30 per share. The ex-dividend date is Monday, December 1st. This represents a $1.20 annualized dividend and a dividend yield of 1.2%. Monarch Casino & Resort’s payout ratio is currently 21.66%.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.