Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Given Average Rating of “Reduce” by Analysts

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have received a consensus recommendation of “Reduce” from the four ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $78.50.

A number of analysts recently weighed in on the stock. Wells Fargo & Company initiated coverage on shares of Monarch Casino & Resort in a research report on Monday, December 16th. They issued an “underweight” rating and a $79.00 price target on the stock. StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Truist Financial increased their price objective on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus boosted their target price on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group raised their target price on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a report on Friday.

Monarch Casino & Resort Price Performance

Shares of NASDAQ:MCRI opened at $77.74 on Friday. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 17.20 and a beta of 1.72. The company has a 50 day moving average of $82.15 and a 200-day moving average of $76.42. Monarch Casino & Resort has a one year low of $64.50 and a one year high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The company had revenue of $137.87 million for the quarter, compared to the consensus estimate of $134.50 million. During the same quarter in the prior year, the business posted $1.38 EPS. Equities research analysts anticipate that Monarch Casino & Resort will post 4.72 earnings per share for the current year.

Institutional Trading of Monarch Casino & Resort

A number of large investors have recently modified their holdings of the business. Trust Point Inc. boosted its stake in Monarch Casino & Resort by 1.5% during the third quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock worth $873,000 after acquiring an additional 162 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Monarch Casino & Resort by 61.0% in the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after acquiring an additional 178 shares in the last quarter. Sei Investments Co. boosted its stake in Monarch Casino & Resort by 1.4% in the 2nd quarter. Sei Investments Co. now owns 19,697 shares of the company’s stock worth $1,342,000 after purchasing an additional 271 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in Monarch Casino & Resort during the 3rd quarter valued at about $30,000. Finally, Franklin Resources Inc. raised its holdings in Monarch Casino & Resort by 7.3% in the third quarter. Franklin Resources Inc. now owns 8,822 shares of the company’s stock worth $665,000 after buying an additional 597 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.