Monarch Casino & Resort, Inc. (NASDAQ:MCRI – Get Free Report) announced a quarterly dividend on Wednesday, October 23rd, Zacks reports. Shareholders 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 yield of 1.53%. The ex-dividend date of this dividend is Friday, November 29th.
Monarch Casino & Resort has a payout ratio of 24.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Monarch Casino & Resort to earn $4.94 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 $78.43 on Friday. Monarch Casino & Resort has a 1 year low of $57.88 and a 1 year high of $80.22. The stock has a market cap of $1.47 billion, a P/E ratio of 18.54 and a beta of 1.73. The stock has a 50-day simple moving average of $75.90 and a 200-day simple moving average of $71.52.
Analysts Set New Price Targets
MCRI has been the subject of a number of research reports. Truist Financial upped their target price on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday. StockNews.com raised Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research report on Monday. Stifel Nicolaus lifted 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. Finally, Macquarie reissued a “neutral” rating and issued a $76.00 target price on shares of Monarch Casino & Resort in a report on Thursday, July 25th.
View Our Latest Stock Report on Monarch Casino & Resort
About Monarch Casino & Resort
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.
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