Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Consensus Rating of “Hold” from Brokerages

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has been assigned a consensus rating of “Hold” from the five research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $88.60.

Several analysts have commented on MCRI shares. Macquarie reaffirmed a “neutral” rating and issued a $92.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. Truist Financial dropped their price objective on Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company raised their target price on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 12th. StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus cut their price target on Monarch Casino & Resort from $90.00 to $81.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd.

Institutional Trading of Monarch Casino & Resort

Large investors have recently modified their holdings of the business. DAVENPORT & Co LLC raised its holdings in Monarch Casino & Resort by 1.6% in the 4th quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company’s stock worth $98,696,000 after purchasing an additional 19,845 shares in the last quarter. Vanguard Group Inc. raised its stake in Monarch Casino & Resort by 2.5% in the first quarter. Vanguard Group Inc. now owns 1,028,325 shares of the company’s stock worth $79,952,000 after buying an additional 24,616 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Monarch Casino & Resort by 8.6% in the fourth quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company’s stock worth $72,488,000 after buying an additional 72,764 shares in the last quarter. American Century Companies Inc. lifted its holdings in Monarch Casino & Resort by 10.5% in the first quarter. American Century Companies Inc. now owns 446,600 shares of the company’s stock worth $34,723,000 after buying an additional 42,527 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its position in Monarch Casino & Resort by 40.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 343,565 shares of the company’s stock valued at $26,712,000 after acquiring an additional 98,371 shares in the last quarter. 62.37% of the stock is owned by institutional investors.

Monarch Casino & Resort Trading Up 0.2%

MCRI opened at $82.46 on Thursday. The company has a fifty day moving average price of $78.63 and a two-hundred day moving average price of $82.29. Monarch Casino & Resort has a 1-year low of $64.58 and a 1-year high of $96.11. The company has a market cap of $1.52 billion, a P/E ratio of 16.66 and a beta of 1.59.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. The company had revenue of $125.39 million for the quarter, compared to analyst estimates of $122.70 million. On average, research analysts forecast that Monarch Casino & Resort will post 5.13 EPS for the current fiscal year.

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.