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

Monarch Casino & Resort (NASDAQ:MCRI) released its quarterly earnings data on Tuesday. The company reported $1.36 EPS for the quarter, topping 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 midday trading on Tuesday, reaching $85.81. 54,060 shares of the company’s stock were exchanged, compared to its average volume of 88,031. The stock has a market capitalization of $1.58 billion, a PE ratio of 18.98 and a beta of 1.74. Monarch Casino & Resort has a 52-week low of $64.50 and a 52-week high of $89.06. The business’s fifty day moving average price is $82.61 and its two-hundred day moving average price is $79.34.

Insider Buying and Selling at Monarch Casino & Resort

In other news, CEO John Farahi sold 1,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $77.70, for a total value of $77,700.00. Following the completion of the sale, the chief executive officer now owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. The trade was a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 24.94% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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