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

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) announced a quarterly dividend on Wednesday, February 4th. Investors of record on Monday, March 2nd will be given a dividend of 0.30 per share on Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, March 2nd.

Monarch Casino & Resort has a payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Monarch Casino & Resort to earn $5.29 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 22.7%.

Monarch Casino & Resort Stock Performance

Shares of MCRI stock opened at $93.64 on Thursday. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 16.90 and a beta of 1.34. Monarch Casino & Resort has a one year low of $69.99 and a one year high of $113.88. The company has a 50 day moving average price of $94.87 and a 200 day moving average price of $97.87.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.12). The company had revenue of $140.00 million for the quarter, compared to analysts’ expectations of $139.39 million. Monarch Casino & Resort had a net margin of 19.26% and a return on equity of 19.33%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 earnings per share. As a group, equities analysts forecast that Monarch Casino & Resort will post 5.13 EPS 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.