Monarch Casino & Resort (NASDAQ:MCRI) Reaches New 1-Year High – Still a Buy?
Monarch Casino & Resort stock hit a new 52-week high, driven by analyst upgrades and strong earnings results.Summary
Monarch Casino & Resort (NASDAQ:MCRI) reached a new 52-week high during trading on Wednesday, trading as high as $132.91. The stock's performance follows a series of positive developments, including analyst upgrades and strong quarterly earnings. The company reported earnings per share (EPS) of $1.52 for the quarter, beating the consensus estimate of $1.15 by $0.37. Revenue for the quarter was $136.55 million, up 8.9% year-over-year. Analyst sentiment remains positive, with one analyst assigning a Strong Buy rating, two a Buy rating, and three a Hold rating, resulting in an average rating of "Moderate Buy" and a consensus price target of $109.50. The company also announced a quarterly dividend of $0.30 per share, representing a 0.9% yield. Additionally, insider John Farahi sold 5,000 shares of the company's stock, reducing his ownership by 0.80%. Institutional investors hold 62.37% of the company's stock.
(Source：The Lincolnian Online)