Monarch Casino & Resort, Inc. (NASDAQ:MCRI) to Post Q4 2019 Earnings of $0.48 Per Share, Jefferies Financial Group Forecasts

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Monarch Casino & Resort, Inc. (NASDAQ:MCRI) – Jefferies Financial Group dropped their Q4 2019 earnings per share (EPS) estimates for Monarch Casino & Resort in a research report issued to clients and investors on Wednesday, June 12th. Jefferies Financial Group analyst D. Katz now expects that the company will post earnings per share of $0.48 for the quarter, down from their previous estimate of $0.54. Jefferies Financial Group also issued estimates for Monarch Casino & Resort’s FY2020 earnings at $2.75 EPS.

Several other research analysts also recently commented on the company. BidaskClub downgraded Monarch Casino & Resort from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Citigroup downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Monarch Casino & Resort currently has an average rating of “Hold” and a consensus target price of $50.00.

Shares of MCRI opened at $42.88 on Thursday. The company has a market capitalization of $781.66 million, a PE ratio of 23.43, a price-to-earnings-growth ratio of 1.82 and a beta of 1.10. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.62. Monarch Casino & Resort has a one year low of $34.45 and a one year high of $49.63.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Wednesday, April 24th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. The business had revenue of $58.74 million for the quarter, compared to the consensus estimate of $56.40 million. Monarch Casino & Resort had a return on equity of 11.61% and a net margin of 14.16%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can boosted its holdings in shares of Monarch Casino & Resort by 22.7% in the 1st quarter. Bank of Montreal Can now owns 1,447 shares of the company’s stock worth $63,000 after acquiring an additional 268 shares in the last quarter. FMR LLC boosted its holdings in shares of Monarch Casino & Resort by 18.5% in the 4th quarter. FMR LLC now owns 2,558 shares of the company’s stock worth $98,000 after acquiring an additional 400 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Monarch Casino & Resort by 1,013.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,361 shares of the company’s stock worth $104,000 after acquiring an additional 2,149 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of Monarch Casino & Resort in the 4th quarter worth approximately $128,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of Monarch Casino & Resort by 375.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,992 shares of the company’s stock worth $152,000 after acquiring an additional 3,152 shares in the last quarter. 60.96% of the stock is currently owned by institutional investors and hedge funds.

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 February 20, 2019, 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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Earnings History and Estimates for Monarch Casino & Resort (NASDAQ:MCRI)

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