Monarch Casino & Resort, Inc. (NASDAQ:MCRI) – Gabelli boosted their FY2018 earnings per share estimates for Monarch Casino & Resort in a report released on Monday. Gabelli analyst A. Trivison now forecasts that the company will post earnings per share of $1.60 for the year, up from their previous estimate of $1.55. Gabelli also issued estimates for Monarch Casino & Resort’s FY2019 earnings at $1.90 EPS.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Monarch Casino & Resort had a return on equity of 11.16% and a net margin of 11.77%. The business had revenue of $58.23 million during the quarter, compared to analyst estimates of $58.00 million.

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MCRI has been the subject of several other research reports. ValuEngine raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Stifel Nicolaus reissued a “hold” rating and issued a $33.00 price objective on shares of Monarch Casino & Resort in a research note on Friday, July 28th. Zacks Investment Research raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Wednesday, July 5th. BidaskClub cut Monarch Casino & Resort from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Imperial Capital raised their price objective on Monarch Casino & Resort from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.00.

Shares of Monarch Casino & Resort (MCRI) traded up 1.26% during trading on Wednesday, hitting $41.04. The company had a trading volume of 6,688 shares. The stock has a 50-day moving average of $36.51 and a 200 day moving average of $32.26. Monarch Casino & Resort has a 12-month low of $21.13 and a 12-month high of $41.13. The stock has a market capitalization of $721.03 million, a price-to-earnings ratio of 27.73 and a beta of 1.04.

A number of institutional investors have recently made changes to their positions in the business. Park West Asset Management LLC grew its stake in Monarch Casino & Resort by 101.2% in the first quarter. Park West Asset Management LLC now owns 905,248 shares of the company’s stock valued at $26,741,000 after acquiring an additional 455,248 shares during the period. Lafitte Capital Management LP boosted its position in shares of Monarch Casino & Resort by 14.4% during the first quarter. Lafitte Capital Management LP now owns 793,008 shares of the company’s stock valued at $23,425,000 after buying an additional 99,839 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Monarch Casino & Resort by 3.0% during the first quarter. Wellington Management Group LLP now owns 726,961 shares of the company’s stock valued at $21,474,000 after buying an additional 21,394 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Monarch Casino & Resort by 4.9% during the second quarter. Vanguard Group Inc. now owns 608,959 shares of the company’s stock valued at $18,421,000 after buying an additional 28,267 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. boosted its position in shares of Monarch Casino & Resort by 40.3% during the second quarter. Uniplan Investment Counsel Inc. now owns 319,068 shares of the company’s stock valued at $9,651,000 after buying an additional 91,659 shares during the last quarter. 58.43% of the stock is owned by hedge funds and other institutional investors.

In other Monarch Casino & Resort news, President Bob Farahi sold 34,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $34.43, for a total value of $1,170,620.00. Following the completion of the sale, the president now owns 482,516 shares of the company’s stock, valued at $16,613,025.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 27.56% of the company’s stock.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s segments include Atlantis and Monarch Casino Black Hawk.

Earnings History and Estimates for Monarch Casino & Resort (NASDAQ:MCRI)

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