ValuEngine upgraded shares of Monarch Casino & Resort (NASDAQ:MCRI) from a hold rating to a buy rating in a research note released on Tuesday, December 18th.
Separately, BidaskClub cut shares of Monarch Casino & Resort from a hold rating to a sell rating in a research report on Wednesday, October 31st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $50.00.
Shares of MCRI traded up $0.58 during midday trading on Tuesday, hitting $42.97. 21,230 shares of the stock traded hands, compared to its average volume of 46,191. Monarch Casino & Resort has a 1-year low of $34.45 and a 1-year high of $49.63. The company has a market cap of $749.40 million, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.72 and a current ratio of 0.78.
Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Wednesday, October 24th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. Monarch Casino & Resort had a net margin of 13.20% and a return on equity of 11.79%. The business had revenue of $64.36 million during the quarter, compared to the consensus estimate of $65.15 million. Analysts predict that Monarch Casino & Resort will post 1.86 EPS for the current year.
A number of institutional investors have recently made changes to their positions in MCRI. Principal Financial Group Inc. increased its stake in shares of Monarch Casino & Resort by 2.6% during the first quarter. Principal Financial Group Inc. now owns 88,992 shares of the company’s stock worth $3,763,000 after purchasing an additional 2,237 shares in the last quarter. TD Asset Management Inc. purchased a new stake in shares of Monarch Casino & Resort during the second quarter worth about $203,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Monarch Casino & Resort during the second quarter worth about $206,000. First Trust Advisors LP increased its stake in shares of Monarch Casino & Resort by 17.0% during the second quarter. First Trust Advisors LP now owns 12,948 shares of the company’s stock worth $570,000 after purchasing an additional 1,884 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Monarch Casino & Resort by 15.9% during the second quarter. Victory Capital Management Inc. now owns 8,029 shares of the company’s stock worth $354,000 after purchasing an additional 1,099 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.
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 Black Hawk in Black Hawk, Colorado. As of March 5, 2018, 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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