Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Announces Quarterly Dividend of $0.30

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

Monarch Casino & Resort has a payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 0.2 %

Shares of MCRI opened at $85.69 on Wednesday. The stock has a market capitalization of $1.58 billion, a P/E ratio of 18.96 and a beta of 1.73. Monarch Casino & Resort has a twelve month low of $62.03 and a twelve month high of $86.68. The firm has a fifty day simple moving average of $78.94 and a two-hundred day simple moving average of $73.48.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.10. The firm had revenue of $137.87 million for the quarter, compared to analyst estimates of $134.50 million. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. During the same period last year, the company earned $1.38 EPS. Sell-side analysts expect that Monarch Casino & Resort will post 4.72 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.