Monarch Casino & Resort, Inc. Forecasted to Earn Q2 2021 Earnings of $0.50 Per Share (NASDAQ:MCRI)

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Monarch Casino & Resort, Inc. (NASDAQ:MCRI) – Analysts at Truist Securiti reduced their Q2 2021 EPS estimates for Monarch Casino & Resort in a research note issued to investors on Wednesday, April 28th. Truist Securiti analyst B. Jonas now anticipates that the company will post earnings of $0.50 per share for the quarter, down from their prior forecast of $0.58. Truist Securiti also issued estimates for Monarch Casino & Resort’s Q3 2021 earnings at $0.73 EPS, Q4 2021 earnings at $0.70 EPS, FY2021 earnings at $2.36 EPS and FY2022 earnings at $3.71 EPS.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Tuesday, April 27th. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Monarch Casino & Resort had a net margin of 7.77% and a return on equity of 5.54%.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Monarch Casino & Resort from a “sell” rating to a “hold” rating and set a $77.00 target price on the stock in a research note on Wednesday, April 28th. Truist raised their price target on Monarch Casino & Resort from $70.00 to $77.00 in a research report on Tuesday, April 27th.

Monarch Casino & Resort stock opened at $72.47 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.49. The firm has a market cap of $1.34 billion, a P/E ratio of 94.12 and a beta of 1.66. The business has a fifty day moving average of $66.08 and a two-hundred day moving average of $58.38. Monarch Casino & Resort has a twelve month low of $26.50 and a twelve month high of $76.00.

Several institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in Monarch Casino & Resort during the fourth quarter worth about $28,000. Jeppson Wealth Management LLC bought a new position in Monarch Casino & Resort in the 3rd quarter valued at about $29,000. Vantage Consulting Group Inc bought a new stake in Monarch Casino & Resort during the fourth quarter worth $29,000. Nisa Investment Advisors LLC bought a new position in Monarch Casino & Resort during the fourth quarter worth about $53,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of Monarch Casino & Resort during the fourth quarter worth about $209,000. Institutional investors own 62.36% of the company’s stock.

About Monarch Casino & Resort

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 Resort Spa Black Hawk in Black Hawk, Colorado. As of February 24, 2021, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 818 guest rooms and suites; 8 food outlets; 2 gourmet coffee 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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Earnings History and Estimates for Monarch Casino & Resort (NASDAQ:MCRI)

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