Monarch Casino & Resort, Inc. (MCRI) Receives $48.50 Average PT from Analysts

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Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have been assigned an average rating of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $48.50.

A number of equities analysts have recently issued reports on MCRI shares. BidaskClub raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Thursday, April 26th. Zacks Investment Research raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Friday, July 27th. Jefferies Financial Group raised shares of Monarch Casino & Resort from an “underperform” rating to a “hold” rating and set a $48.00 price objective on the stock in a research report on Wednesday, July 25th. Finally, Stifel Nicolaus increased their price objective on shares of Monarch Casino & Resort from $45.00 to $49.00 and gave the stock a “hold” rating in a research report on Wednesday, July 25th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cutler Group LP lifted its position in Monarch Casino & Resort by 609.8% in the 2nd quarter. Cutler Group LP now owns 2,549 shares of the company’s stock valued at $112,000 after acquiring an additional 3,049 shares in the last quarter. Legal & General Group Plc lifted its position in Monarch Casino & Resort by 6.0% in the 2nd quarter. Legal & General Group Plc now owns 22,583 shares of the company’s stock valued at $993,000 after acquiring an additional 1,281 shares in the last quarter. BlackRock Inc. lifted its position in Monarch Casino & Resort by 6.5% in the 2nd quarter. BlackRock Inc. now owns 1,654,865 shares of the company’s stock valued at $72,898,000 after acquiring an additional 101,600 shares in the last quarter. Argent Capital Management LLC lifted its position in Monarch Casino & Resort by 15.4% in the 2nd quarter. Argent Capital Management LLC now owns 64,937 shares of the company’s stock valued at $2,860,000 after acquiring an additional 8,660 shares in the last quarter. Finally, Swiss National Bank lifted its position in Monarch Casino & Resort by 14.1% in the 2nd quarter. Swiss National Bank now owns 22,711 shares of the company’s stock valued at $1,000,000 after acquiring an additional 2,800 shares in the last quarter. 59.90% of the stock is currently owned by institutional investors and hedge funds.

MCRI stock opened at $46.57 on Wednesday. The stock has a market cap of $820.73 million, a PE ratio of 31.68, a P/E/G ratio of 1.96 and a beta of 1.09. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 0.13. Monarch Casino & Resort has a 1 year low of $33.58 and a 1 year high of $49.63.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Wednesday, July 25th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. The company had revenue of $59.91 million for the quarter, compared to analysts’ expectations of $61.35 million. Monarch Casino & Resort had a net margin of 12.50% and a return on equity of 11.47%. sell-side analysts expect that Monarch Casino & Resort will post 1.87 EPS for the current fiscal year.

Monarch Casino & Resort Company Profile

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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