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

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) announced a quarterly dividend on Monday, February 6th,Zacks Dividends reports. Stockholders of record on Sunday, December 1st will be given a dividend of 0.30 per share on Sunday, December 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, November 29th.

Monarch Casino & Resort has a payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Monarch Casino & Resort to earn $4.93 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 Performance

NASDAQ MCRI opened at $85.69 on Wednesday. The company has a market capitalization of $1.58 billion, a PE ratio of 18.96 and a beta of 1.73. Monarch Casino & Resort has a 52-week low of $62.03 and a 52-week high of $86.68. The company has a 50-day simple moving average of $78.94 and a 200 day simple moving average of $73.48.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.10. The company had revenue of $137.87 million during the quarter, compared to analyst estimates of $134.50 million. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. During the same quarter last year, the business posted $1.38 EPS. As a group, analysts forecast that Monarch Casino & Resort will post 4.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MCRI has been the topic of several research reports. Stifel Nicolaus boosted their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Truist Financial boosted their price objective on Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 6th.

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.