Equities research analysts expect that Monarch Casino & Resort, Inc. (NASDAQ:MCRI) will report sales of $56.40 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Monarch Casino & Resort’s earnings, with the lowest sales estimate coming in at $54.60 million and the highest estimate coming in at $58.20 million. Monarch Casino & Resort reported sales of $56.06 million in the same quarter last year, which would suggest a positive year over year growth rate of 0.6%. The company is expected to report its next quarterly earnings report on Tuesday, February 19th.
On average, analysts expect that Monarch Casino & Resort will report full-year sales of $236.90 million for the current fiscal year, with estimates ranging from $235.10 million to $238.70 million. For the next year, analysts expect that the business will post sales of $273.70 million, with estimates ranging from $273.00 million to $274.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Monarch Casino & Resort.
Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Wednesday, October 24th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The business had revenue of $64.36 million during the quarter, compared to analyst estimates of $65.15 million. Monarch Casino & Resort had a return on equity of 11.79% and a net margin of 13.20%.
Several equities research analysts have recently issued reports on MCRI shares. BidaskClub upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Zacks Investment Research upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Friday, July 27th. Stifel Nicolaus raised their price objective on Monarch Casino & Resort from $45.00 to $49.00 and gave the company a “hold” rating in a research note on Wednesday, July 25th. Jefferies Financial Group raised Monarch Casino & Resort from an “underperform” rating to a “hold” rating and set a $48.00 price objective on the stock in a research note on Wednesday, July 25th. Finally, ValuEngine downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Saturday, October 27th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $50.00.
Shares of Monarch Casino & Resort stock opened at $38.92 on Friday. The stock has a market cap of $716.10 million, a PE ratio of 26.48, a PEG ratio of 1.72 and a beta of 1.29. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.92 and a quick ratio of 0.86. Monarch Casino & Resort has a 52-week low of $37.33 and a 52-week high of $49.63.
In related news, President Bob Farahi acquired 8,000 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The shares were acquired at an average cost of $44.84 per share, with a total value of $358,720.00. Following the purchase, the president now owns 419,408 shares of the company’s stock, valued at $18,806,254.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.24% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MCRI. BlackRock Inc. increased 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 worth $72,898,000 after buying an additional 101,600 shares during the period. Assenagon Asset Management S.A. bought a new position in Monarch Casino & Resort in the 3rd quarter worth approximately $3,154,000. Brasada Capital Management LP increased its position in Monarch Casino & Resort by 20.1% in the 3rd quarter. Brasada Capital Management LP now owns 103,262 shares of the company’s stock worth $4,693,000 after buying an additional 17,309 shares during the period. Northern Trust Corp increased its position in Monarch Casino & Resort by 6.0% in the 2nd quarter. Northern Trust Corp now owns 200,079 shares of the company’s stock worth $8,815,000 after buying an additional 11,408 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in Monarch Casino & Resort in the 3rd quarter worth approximately $468,000. 58.77% of the stock is currently owned by institutional investors.
About Monarch Casino & Resort
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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