Monarch Casino & Resort, Inc. (MCRI) to Issue Quarterly Dividend of $0.30 on September 15th

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) announced a quarterly dividend on Monday, July 20th. Investors of record on Tuesday, September 1st will be given a dividend of 0.30 per share on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 1st.

Monarch Casino & Resort has a payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Monarch Casino & Resort to earn $7.19 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 16.7%.

Monarch Casino & Resort Price Performance

NASDAQ MCRI opened at $122.57 on Friday. Monarch Casino & Resort has a 12 month low of $88.13 and a 12 month high of $135.93. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 19.64 and a beta of 1.31. The company’s fifty day moving average price is $124.97 and its two-hundred day moving average price is $113.62.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Monday, July 20th. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. The company had revenue of $142.60 million during the quarter, compared to the consensus estimate of $142.85 million. Monarch Casino & Resort had a net margin of 20.40% and a return on equity of 20.63%. The business’s revenue was up 4.2% compared to the same quarter last year. As a group, analysts anticipate that Monarch Casino & Resort will post 6.98 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MCRI shares. UBS Group set a $124.00 price target on Monarch Casino & Resort in a research note on Thursday, July 2nd. Zacks Research cut Monarch Casino & Resort from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company reduced their target price on Monarch Casino & Resort from $116.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Monarch Casino & Resort in a research report on Monday, August 24th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Monarch Casino & Resort in a report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $124.40.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company’s flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property’s showroom.

Monarch’s revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.