Monarch Casino & Resort, Inc. (NASDAQ:MCRI) – Stock analysts at Gabelli issued their FY2018 earnings estimates for shares of Monarch Casino & Resort in a note issued to investors on Thursday, Zacks Investment Research reports. Gabelli analyst A. Trivison anticipates that the company will post earnings of $1.85 per share for the year. Gabelli also issued estimates for Monarch Casino & Resort’s FY2021 earnings at $3.25 EPS.
Several other research analysts also recently commented on MCRI. BidaskClub downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Jefferies Group began coverage on Monarch Casino & Resort in a research note on Thursday, January 18th. They set an “underperform” rating and a $39.00 target price for the company. ValuEngine raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $50.80.
Shares of Monarch Casino & Resort (NASDAQ MCRI) traded down $0.09 during midday trading on Monday, reaching $43.80. The company’s stock had a trading volume of 19,710 shares, compared to its average volume of 74,169. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.08 and a current ratio of 1.17. The firm has a market capitalization of $783.90, a P/E ratio of 30.03 and a beta of 1.20. Monarch Casino & Resort has a 12-month low of $27.97 and a 12-month high of $47.92.
Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Wednesday, February 21st. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.10). The business had revenue of $56.06 million for the quarter, compared to analyst estimates of $57.95 million. Monarch Casino & Resort had a return on equity of 10.65% and a net margin of 11.07%.
Hedge funds have recently made changes to their positions in the stock. LS Investment Advisors LLC bought a new stake in Monarch Casino & Resort in the fourth quarter valued at approximately $100,000. SG Americas Securities LLC bought a new stake in Monarch Casino & Resort in the fourth quarter valued at approximately $136,000. Cornerstone Capital Management Holdings LLC. bought a new stake in Monarch Casino & Resort in the second quarter valued at approximately $156,000. Macquarie Group Ltd. bought a new stake in Monarch Casino & Resort in the third quarter valued at approximately $171,000. Finally, Nationwide Fund Advisors boosted its holdings in Monarch Casino & Resort by 6.6% in the second quarter. Nationwide Fund Advisors now owns 7,156 shares of the company’s stock valued at $216,000 after acquiring an additional 446 shares during the last quarter. Institutional investors and hedge funds own 61.03% of the company’s stock.
In other news, President Bob Farahi sold 12,242 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $46.13, for a total value of $564,723.46. Following the completion of the transaction, the president now owns 378,074 shares of the company’s stock, valued at $17,440,553.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 27.56% of the company’s stock.
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About Monarch Casino & Resort
Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s segments include Atlantis and Monarch Casino Black Hawk.
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