Monarch Casino & Resort (NASDAQ:MCRI) Lowered to “Hold” at Jefferies Financial Group

Monarch Casino & Resort (NASDAQ:MCRIGet Rating) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, The Fly reports. They presently have a $90.00 price objective on the stock, up from their previous price objective of $85.00. Jefferies Financial Group’s price objective points to a potential downside of 3.31% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus boosted their price target on Monarch Casino & Resort from $91.00 to $96.00 and gave the company a “hold” rating in a research note on Monday. Truist Financial boosted their price target on Monarch Casino & Resort from $88.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 14th. Finally, Zacks Investment Research raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $95.75.

Shares of Monarch Casino & Resort stock opened at $93.08 on Thursday. The firm has a 50-day moving average of $82.67 and a 200-day moving average of $73.77. The stock has a market cap of $1.76 billion, a PE ratio of 26.44 and a beta of 1.65. Monarch Casino & Resort has a 52-week low of $56.35 and a 52-week high of $94.26. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.54 and a current ratio of 0.60.

Monarch Casino & Resort (NASDAQ:MCRIGet Rating) last announced its earnings results on Wednesday, April 20th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.01. Monarch Casino & Resort had a net margin of 17.32% and a return on equity of 16.57%. Equities research analysts predict that Monarch Casino & Resort will post 4.99 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in Monarch Casino & Resort by 1.1% in the fourth quarter. BlackRock Inc. now owns 2,013,714 shares of the company’s stock valued at $148,915,000 after buying an additional 21,347 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Monarch Casino & Resort by 5.2% during the third quarter. Janus Henderson Group PLC now owns 1,073,117 shares of the company’s stock valued at $71,888,000 after acquiring an additional 53,121 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Monarch Casino & Resort by 1.5% during the fourth quarter. JPMorgan Chase & Co. now owns 919,604 shares of the company’s stock valued at $68,005,000 after acquiring an additional 13,594 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Monarch Casino & Resort by 1.4% during the third quarter. Macquarie Group Ltd. now owns 592,018 shares of the company’s stock valued at $39,660,000 after acquiring an additional 8,068 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in shares of Monarch Casino & Resort by 0.6% during the fourth quarter. Brown Advisory Inc. now owns 321,273 shares of the company’s stock valued at $23,759,000 after acquiring an additional 1,799 shares during the last quarter. Hedge funds and other institutional investors own 63.41% of the company’s stock.

Monarch Casino & Resort Company Profile (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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