Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives $78.50 Consensus Price Target from Analysts

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has been given an average rating of “Reduce” by the five analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $80.40.

A number of equities analysts have recently commented on MCRI shares. StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Truist Financial raised their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company started coverage on Monarch Casino & Resort in a research note on Monday, December 16th. They issued an “underweight” rating and a $79.00 price objective on the stock. Jefferies Financial Group increased their target price on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a report on Friday. Finally, Stifel Nicolaus boosted their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, October 24th.

Monarch Casino & Resort Stock Up 0.6 %

Monarch Casino & Resort stock opened at $78.24 on Friday. The business has a 50 day moving average price of $82.13 and a two-hundred day moving average price of $76.61. Monarch Casino & Resort has a 12 month low of $64.50 and a 12 month high of $89.06. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 17.31 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The business had revenue of $137.87 million during the quarter, compared to analyst estimates of $134.50 million. During the same period in the prior year, the company posted $1.38 earnings per share. On average, analysts expect that Monarch Casino & Resort will post 4.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MCRI. Bank of New York Mellon Corp raised its position in Monarch Casino & Resort by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 178,727 shares of the company’s stock valued at $12,177,000 after purchasing an additional 1,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Monarch Casino & Resort by 81.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock valued at $185,000 after buying an additional 1,221 shares during the last quarter. Victory Capital Management Inc. lifted its position in Monarch Casino & Resort by 16.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,324 shares of the company’s stock worth $363,000 after buying an additional 758 shares in the last quarter. American Century Companies Inc. grew its holdings in Monarch Casino & Resort by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock worth $21,371,000 after acquiring an additional 46,323 shares during the last quarter. Finally, Vest Financial LLC increased its position in Monarch Casino & Resort by 38.6% in the 2nd quarter. Vest Financial LLC now owns 16,107 shares of the company’s stock valued at $1,097,000 after acquiring an additional 4,482 shares in the last quarter. 62.37% of the stock is owned by institutional investors and hedge funds.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.