Stifel Nicolaus Boosts Monarch Casino & Resort (NASDAQ:MCRI) Price Target to $96.00

Monarch Casino & Resort (NASDAQ:MCRIGet Rating) had its target price hoisted by investment analysts at Stifel Nicolaus from $91.00 to $96.00 in a research note issued to investors on Monday, The Fly reports. Stifel Nicolaus’ price target points to a potential upside of 10.28% from the stock’s current price.

Several other analysts have also recently weighed in on the company. Jefferies Financial Group reduced their price target on Monarch Casino & Resort from $83.00 to $82.00 in a report on Friday, January 21st. StockNews.com cut Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Zacks Investment Research cut Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th.

NASDAQ MCRI traded up $0.41 during trading on Monday, hitting $87.05. 2,262 shares of the company’s stock were exchanged, compared to its average volume of 99,174. The company has a current ratio of 0.60, a quick ratio of 0.54 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.64 billion, a PE ratio of 24.73 and a beta of 1.65. Monarch Casino & Resort has a fifty-two week low of $56.35 and a fifty-two week high of $89.07. The stock’s 50 day moving average price is $81.64 and its two-hundred day moving average price is $73.40.

Monarch Casino & Resort (NASDAQ:MCRIGet Rating) last issued its earnings results on Wednesday, February 9th. The company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.12. The firm had revenue of $111.07 million during the quarter, compared to the consensus estimate of $97.03 million. Monarch Casino & Resort had a return on equity of 16.57% and a net margin of 17.32%. Analysts forecast that Monarch Casino & Resort will post 4.99 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of MCRI. O Shaughnessy Asset Management LLC raised its position in shares of Monarch Casino & Resort by 34.4% during the third quarter. O Shaughnessy Asset Management LLC now owns 856 shares of the company’s stock worth $57,000 after purchasing an additional 219 shares during the period. Morgan Dempsey Capital Management LLC raised its position in Monarch Casino & Resort by 20.5% in the 3rd quarter. Morgan Dempsey Capital Management LLC now owns 1,481 shares of the company’s stock valued at $99,000 after buying an additional 252 shares during the last quarter. Royal Bank of Canada raised its position in Monarch Casino & Resort by 33.6% in the 2nd quarter. Royal Bank of Canada now owns 2,012 shares of the company’s stock valued at $133,000 after buying an additional 506 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Monarch Casino & Resort in the 3rd quarter valued at $188,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Monarch Casino & Resort in the 4th quarter valued at $188,000. 63.41% of the stock is currently owned by institutional investors.

About Monarch Casino & Resort (Get Rating)

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. The company also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. As of December 31, 2021, its 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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