Q3 2019 Earnings Estimate for Monarch Casino & Resort, Inc. Issued By Jefferies Financial Group (NASDAQ:MCRI)

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) – Equities research analysts at Jefferies Financial Group boosted their Q3 2019 earnings per share estimates for shares of Monarch Casino & Resort in a research note issued on Wednesday, June 12th. Jefferies Financial Group analyst D. Katz now anticipates that the company will earn $0.60 per share for the quarter, up from their previous forecast of $0.59. Jefferies Financial Group also issued estimates for Monarch Casino & Resort’s FY2019 earnings at $1.87 EPS.

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

A number of other brokerages have also recently issued reports on MCRI. BidaskClub cut Monarch Casino & Resort from a “hold” rating to a “sell” rating in a report on Saturday, March 16th. Zacks Investment Research cut Monarch Casino & Resort from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Citigroup cut 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. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $50.00.

Shares of NASDAQ MCRI opened at $42.88 on Friday. The firm has a market cap of $771.23 million, a price-to-earnings ratio of 23.43, a P/E/G ratio of 1.79 and a beta of 1.10. Monarch Casino & Resort has a 52-week low of $34.45 and a 52-week high of $49.63. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.62 and a quick ratio of 0.56.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in shares of Monarch Casino & Resort by 1.4% during the 1st quarter. BlackRock Inc. now owns 1,763,536 shares of the company’s stock worth $77,456,000 after buying an additional 23,921 shares during the period. Park West Asset Management LLC grew its position in shares of Monarch Casino & Resort by 0.3% during the 4th quarter. Park West Asset Management LLC now owns 1,532,904 shares of the company’s stock worth $58,465,000 after buying an additional 4,400 shares during the period. Wellington Management Group LLP grew its position in shares of Monarch Casino & Resort by 99.1% during the 1st quarter. Wellington Management Group LLP now owns 553,198 shares of the company’s stock worth $24,297,000 after buying an additional 275,406 shares during the period. Bank of New York Mellon Corp grew its position in shares of Monarch Casino & Resort by 2.3% during the 4th quarter. Bank of New York Mellon Corp now owns 197,282 shares of the company’s stock worth $7,525,000 after buying an additional 4,388 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Monarch Casino & Resort by 11.7% during the 1st quarter. Geode Capital Management LLC now owns 153,024 shares of the company’s stock worth $6,720,000 after buying an additional 16,008 shares during the period. Hedge funds and other institutional investors own 60.96% of the company’s stock.

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 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.

Further Reading: Beta

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

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