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

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) declared a quarterly dividend on Tuesday, April 21st. Stockholders of record on Monday, June 1st will be paid a dividend of 0.30 per share on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, June 1st.

Monarch Casino & Resort has a dividend payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Monarch Casino & Resort to earn $6.14 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 19.5%.

Monarch Casino & Resort Price Performance

Shares of MCRI stock opened at $98.58 on Wednesday. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 18.15 and a beta of 1.30. The stock has a 50 day simple moving average of $97.14 and a 200-day simple moving average of $95.69. Monarch Casino & Resort has a 1-year low of $74.39 and a 1-year high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Tuesday, April 21st. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.37. Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.The business had revenue of $136.55 million during the quarter, compared to the consensus estimate of $128.49 million. Monarch Casino & Resort’s revenue was up 8.9% on a year-over-year basis. Analysts anticipate that Monarch Casino & Resort will post 5.95 earnings per share for the current fiscal year.

About Monarch Casino & Resort

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.