Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Consensus Rating of “Buy” from Brokerages

Monarch Casino & Resort, Inc. (NASDAQ:MCRIGet Rating) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $95.67.

MCRI has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered Monarch Casino & Resort from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $85.00 to $90.00 in a research note on Thursday, April 21st. Stifel Nicolaus lowered shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Thursday, April 21st. StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 14th. Truist Financial boosted their target price on shares of Monarch Casino & Resort from $88.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, April 19th. Finally, Zacks Investment Research upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a report on Wednesday, April 20th.

NASDAQ:MCRI opened at $68.80 on Monday. Monarch Casino & Resort has a twelve month low of $56.35 and a twelve month high of $94.26. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 0.13. The stock’s 50-day simple moving average is $80.19 and its 200 day simple moving average is $74.00. The firm has a market capitalization of $1.30 billion, a PE ratio of 17.11 and a beta of 1.69.

Monarch Casino & Resort (NASDAQ:MCRIGet Rating) last announced its quarterly earnings results on Wednesday, April 20th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.01. Monarch Casino & Resort had a net margin of 18.30% and a return on equity of 18.05%. On average, analysts anticipate that Monarch Casino & Resort will post 4.39 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC grew its stake in shares of Monarch Casino & Resort by 34.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 856 shares of the company’s stock worth $57,000 after acquiring an additional 219 shares in the last quarter. Denali Advisors LLC bought a new position in Monarch Casino & Resort in the 1st quarter valued at $113,000. Royal Bank of Canada increased its position in shares of Monarch Casino & Resort by 33.6% during the 2nd quarter. Royal Bank of Canada now owns 2,012 shares of the company’s stock valued at $133,000 after purchasing an additional 506 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Monarch Casino & Resort during the 3rd quarter worth $188,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Monarch Casino & Resort during the 4th quarter worth $188,000. 62.45% of the stock is owned by hedge funds and other 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.

Read More

Receive News & Ratings for Monarch Casino & Resort Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monarch Casino & Resort and related companies with MarketBeat.com's FREE daily email newsletter.