Brokerages forecast that Monarch Casino & Resort, Inc. (NASDAQ:MCRI) will post $57.95 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Monarch Casino & Resort’s earnings, with the lowest sales estimate coming in at $57.90 million and the highest estimate coming in at $58.00 million. Monarch Casino & Resort reported sales of $58.74 million during the same quarter last year, which indicates a negative year over year growth rate of 1.3%. The firm is scheduled to report its next earnings results on Wednesday, April 22nd.
On average, analysts expect that Monarch Casino & Resort will report full-year sales of $285.00 million for the current year, with estimates ranging from $278.20 million to $291.80 million. For the next financial year, analysts expect that the firm will post sales of $333.00 million, with estimates ranging from $332.60 million to $333.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Monarch Casino & Resort.
Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, March 11th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Monarch Casino & Resort had a net margin of 12.77% and a return on equity of 11.17%. The company had revenue of $62.08 million during the quarter, compared to analysts’ expectations of $62.35 million.
A number of equities research analysts have recently weighed in on MCRI shares. Jefferies Financial Group upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their price target for the stock from $46.00 to $58.00 in a research note on Monday, January 6th. BidaskClub upgraded Monarch Casino & Resort from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Stifel Nicolaus dropped their price target on Monarch Casino & Resort from $51.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, March 13th. Finally, Zacks Investment Research lowered Monarch Casino & Resort from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $47.00.
In other Monarch Casino & Resort news, President Bob Farahi purchased 5,000 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were acquired at an average price of $20.11 per share, for a total transaction of $100,550.00. Following the completion of the purchase, the president now owns 398,265 shares of the company’s stock, valued at $8,009,109.15. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 26.64% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of Monarch Casino & Resort by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 169,342 shares of the company’s stock worth $8,221,000 after purchasing an additional 3,846 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Monarch Casino & Resort by 6.9% during the fourth quarter. Alliancebernstein L.P. now owns 10,800 shares of the company’s stock worth $524,000 after purchasing an additional 700 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Monarch Casino & Resort by 6.3% during the fourth quarter. Janus Henderson Group PLC now owns 527,246 shares of the company’s stock worth $25,598,000 after purchasing an additional 31,125 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Monarch Casino & Resort by 3.1% during the fourth quarter. AQR Capital Management LLC now owns 8,116 shares of the company’s stock worth $394,000 after purchasing an additional 243 shares during the period. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Monarch Casino & Resort during the fourth quarter worth about $218,000. 61.44% of the stock is owned by hedge funds and other institutional investors.
MCRI opened at $28.04 on Friday. The business’s 50-day moving average is $41.12 and its two-hundred day moving average is $44.92. Monarch Casino & Resort has a 1 year low of $12.83 and a 1 year high of $57.57. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.00 and a quick ratio of 0.91. The firm has a market capitalization of $406.19 million, a PE ratio of 16.40 and a beta of 1.02.
Monarch Casino & Resort Company Profile
Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada. It also owns and operates the Monarch Casino Black Hawk in Black Hawk, Colorado. As of February 20, 2019, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 824 guest rooms; 8 food outlets; 2 espresso and pastry bars; a 30,000 square-foot health spa and salon with an enclosed pool; 2 retail outlets offering clothing and gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention, and meeting room space.
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