Monarch Casino & Resort (NASDAQ:MCRI) Issues Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Monarch Casino & Resort (NASDAQ:MCRI) posted its earnings results on Tuesday. The company reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.10), Zacks reports. Monarch Casino & Resort had a return on equity of 20.63% and a net margin of 20.40%.

Monarch Casino & Resort Price Performance

Shares of MCRI stock traded down $0.87 on Tuesday, hitting $115.28. 146,315 shares of the stock traded hands, compared to its average volume of 147,237. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 18.47 and a beta of 1.37. Monarch Casino & Resort has a 52 week low of $88.13 and a 52 week high of $135.93. The firm has a 50 day simple moving average of $119.01 and a two-hundred day simple moving average of $112.07.

Insider Buying and Selling at Monarch Casino & Resort

In related news, CEO John Farahi sold 5,000 shares of the company’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $124.00, for a total value of $620,000.00. Following the completion of the transaction, the chief executive officer owned 611,556 shares of the company’s stock, valued at approximately $75,832,944. This represents a 0.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 26.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MCRI shares. Zacks Research raised Monarch Casino & Resort from a “strong sell” rating to a “hold” rating in a report on Friday, September 18th. Wall Street Zen lowered Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Stifel Nicolaus upped their price objective on Monarch Casino & Resort from $102.00 to $128.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Monarch Casino & Resort in a report on Monday, August 24th. Finally, UBS Group set a $124.00 price target on Monarch Casino & Resort in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Monarch Casino & Resort currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.40.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc operates casino resorts in Nevada and Colorado. The company’s properties combine casino gaming with hotel accommodations, dining, entertainment and other hospitality services.

Its principal properties are Atlantis Casino Resort Spa in Reno, Nevada, and Monarch Casino Resort Spa in Black Hawk, Colorado. The resorts offer gaming facilities, restaurants and bars, hotel rooms and suites, spa services, meeting spaces and entertainment options. The company primarily serves regional visitors and destination guests in the western United States.

Monarch Casino & Resort traces its history to the opening of the Atlantis in Reno in 1972.