Monarch Casino & Resort (NASDAQ:MCRI) Issues Earnings Results

Monarch Casino & Resort (NASDAQ:MCRI) issued its earnings results on Tuesday. The company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.23, Zacks reports. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%.

Monarch Casino & Resort Stock Performance

Shares of NASDAQ MCRI traded up $0.40 during trading on Tuesday, reaching $85.81. The stock had a trading volume of 54,062 shares, compared to its average volume of 88,031. The company has a market cap of $1.58 billion, a P/E ratio of 18.98 and a beta of 1.74. Monarch Casino & Resort has a fifty-two week low of $64.50 and a fifty-two week high of $89.06. The business’s 50-day moving average price is $82.61 and its 200-day moving average price is $79.34.

Insider Transactions at Monarch Casino & Resort

In other news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $77.70, for a total transaction of $77,700.00. Following the completion of the transaction, the chief executive officer now directly owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. This represents a 0.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 24.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 4th. Jefferies Financial Group raised their price target on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Wells Fargo & Company assumed coverage on shares of Monarch Casino & Resort in a research note on Monday, December 16th. They set an “underweight” rating and a $79.00 target price on the stock. Stifel Nicolaus increased their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. Finally, Truist Financial upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their price objective for the company from $82.00 to $100.00 in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Monarch Casino & Resort presently has a consensus rating of “Hold” and a consensus price target of $84.00.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.