Monarch Casino & Resort (NASDAQ:MCRI) Issues Earnings Results
Monarch Casino & Resort reported quarterly earnings per share of $1.78, exceeding analyst estimates.Summary
Monarch Casino & Resort (NASDAQ:MCRI) announced quarterly earnings results, reporting $1.78 per share, which beat the consensus estimate of $1.67. The company's revenue for the quarter reached $142.60 million, slightly exceeding analyst expectations. Key financial metrics include a return on equity of 19.98% and a net margin of 19.62%.
The company declared a quarterly dividend of $0.30 per share, payable on September 15th, representing an annualized dividend of $1.20. While the company shows strong momentum and record Q2 results, it faces potential litigation risks related to a construction dispute in Black Hawk.
Wall Street analysts have shown mixed but generally positive sentiment, with Truist raising its price target to $144. Institutional investors, including Panagora Asset Management and Mariner LLC, have recently increased their holdings in the company.
(Source：The Lincolnian Online)