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

Monarch Casino & Resort (NASDAQ:MCRI) announced its quarterly earnings results on Wednesday. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.02), Yahoo Finance reports. Monarch Casino & Resort had a return on equity of 17.22% and a net margin of 16.40%. The business had revenue of $121.66 million for the quarter, compared to analysts’ expectations of $122.13 million. During the same period last year, the company posted $0.90 earnings per share.

Monarch Casino & Resort Stock Up 0.8 %

NASDAQ:MCRI traded up $0.51 on Friday, reaching $67.05. The stock had a trading volume of 32,935 shares, compared to its average volume of 115,269. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $70.75 and a 200 day moving average of $67.04. The stock has a market cap of $1.26 billion, a P/E ratio of 15.81 and a beta of 1.66. Monarch Casino & Resort has a 12-month low of $56.25 and a 12-month high of $75.52.

Monarch Casino & Resort Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be given a $0.30 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.20 dividend on an annualized basis and a yield of 1.79%. Monarch Casino & Resort’s payout ratio is currently 28.37%.

Hedge Funds Weigh In On Monarch Casino & Resort

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in Monarch Casino & Resort in the 4th quarter valued at about $28,000. UBS Group AG lifted its position in shares of Monarch Casino & Resort by 214.2% during the third quarter. UBS Group AG now owns 1,458 shares of the company’s stock worth $82,000 after purchasing an additional 994 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Monarch Casino & Resort during the fourth quarter worth about $108,000. Captrust Financial Advisors lifted its position in shares of Monarch Casino & Resort by 30.0% during 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 during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Monarch Casino & Resort by 190.5% during the first quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the company’s stock worth $189,000 after purchasing an additional 1,421 shares during the last quarter. 62.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Truist Financial upped their price target on shares of Monarch Casino & Resort from $72.00 to $74.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th. Macquarie upped their price target 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. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $70.00 price objective on shares of Monarch Casino & Resort in a research report on Friday, January 5th.

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.