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

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) declared a quarterly dividend on Tuesday, October 27th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.30 per share on Tuesday, December 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, December 1st.

Monarch Casino & Resort has a payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Monarch Casino & Resort to earn $7.19 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 16.7%.

Monarch Casino & Resort Stock Down 2.6%

MCRI opened at $112.26 on Thursday. Monarch Casino & Resort has a 12 month low of $88.13 and a 12 month high of $135.93. The company has a fifty day simple moving average of $118.62 and a 200 day simple moving average of $112.27. The stock has a market cap of $2.01 billion, a P/E ratio of 17.99 and a beta of 1.37.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.10). The business had revenue of $146.26 million for the quarter, compared to analyst estimates of $147.93 million. Monarch Casino & Resort had a return on equity of 20.63% and a net margin of 20.40%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.69 EPS. On average, equities research analysts expect that Monarch Casino & Resort will post 6.98 earnings per share for the current fiscal year.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc operates casino resorts in Nevada and Colorado. The company’s properties combine casino gaming with hotel accommodations, dining, entertainment and other hospitality services.

Its principal properties are Atlantis Casino Resort Spa in Reno, Nevada, and Monarch Casino Resort Spa in Black Hawk, Colorado. The resorts offer gaming facilities, restaurants and bars, hotel rooms and suites, spa services, meeting spaces and entertainment options. The company primarily serves regional visitors and destination guests in the western United States.

Monarch Casino & Resort traces its history to the opening of the Atlantis in Reno in 1972.