Monarch Casino & Resort, Inc. (MCRI) to Post FY2018 Earnings of $1.60 Per Share, Gabelli Forecasts

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) – Stock analysts at Gabelli decreased their FY2018 earnings per share (EPS) estimates for shares of Monarch Casino & Resort in a note issued to investors on Thursday, Zacks Investment Research reports. Gabelli analyst A. Trivison now forecasts that the company will post earnings per share of $1.60 for the year, down from their prior forecast of $1.65. Gabelli also issued estimates for Monarch Casino & Resort’s FY2019 earnings at $2.00 EPS, FY2020 earnings at $2.50 EPS and FY2021 earnings at $2.80 EPS.

Several other brokerages have also issued reports on MCRI. Zacks Investment Research lowered shares of Monarch Casino & Resort from a “hold” rating to a “sell” rating in a research note on Friday, April 28th. Stifel Nicolaus increased their price target on shares of Monarch Casino & Resort from $27.00 to $29.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Deutsche Bank AG increased their price target on shares of Monarch Casino & Resort from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Finally, Imperial Capital raised their price objective on shares of Monarch Casino & Resort from $27.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, April 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.60.

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Monarch Casino & Resort (NASDAQ:MCRI) traded down 1.64% during midday trading on Friday, hitting $29.45. 227 shares of the stock traded hands. Monarch Casino & Resort has a 52 week low of $19.05 and a 52 week high of $30.09. The stock’s 50-day moving average price is $29.39 and its 200-day moving average price is $26.17. The stock has a market capitalization of $515.49 million, a P/E ratio of 21.07 and a beta of 0.96.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Tuesday, April 25th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by $0.01. The business had revenue of $53.41 million for the quarter, compared to the consensus estimate of $51.30 million. Monarch Casino & Resort had a return on equity of 10.88% and a net margin of 10.91%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan raised its stake in Monarch Casino & Resort by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 19,470 shares of the company’s stock worth $491,000 after buying an additional 50 shares in the last quarter. Comerica Bank raised its stake in Monarch Casino & Resort by 4.4% in the first quarter. Comerica Bank now owns 10,332 shares of the company’s stock worth $308,000 after buying an additional 435 shares in the last quarter. State of Tennessee Treasury Department raised its stake in Monarch Casino & Resort by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 9,529 shares of the company’s stock worth $281,000 after buying an additional 1,438 shares in the last quarter. Friedberg Investment Management raised its stake in Monarch Casino & Resort by 4.1% in the first quarter. Friedberg Investment Management now owns 90,420 shares of the company’s stock worth $2,671,000 after buying an additional 3,600 shares in the last quarter. Finally, Alambic Investment Management L.P. raised its stake in Monarch Casino & Resort by 12.5% in the first quarter. Alambic Investment Management L.P. now owns 52,380 shares of the company’s stock worth $1,547,000 after buying an additional 5,800 shares in the last quarter. Institutional investors and hedge funds own 56.52% of the company’s stock.

Monarch Casino & Resort Company Profile

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.

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