Posted by admin on Jul 25th, 2022 
Monarch Casino & Resort, Inc. (NASDAQ:MCRI – Get Rating) – Jefferies Financial Group dropped their Q3 2022 earnings estimates for shares of Monarch Casino & Resort in a report released on Thursday, July 21st. Jefferies Financial Group analyst D. Katz now expects that the company will post earnings per share of $1.17 for the quarter, down from their prior estimate of $1.18. Jefferies Financial Group has a “Hold” rating and a $90.00 price target on the stock. The consensus estimate for Monarch Casino & Resort’s current full-year earnings is $4.39 per share. Jefferies Financial Group also issued estimates for Monarch Casino & Resort’s Q1 2023 earnings at $0.96 EPS and Q4 2023 earnings at $1.00 EPS.
Monarch Casino & Resort (NASDAQ:MCRI – Get Rating) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.07). Monarch Casino & Resort had a return on equity of 18.42% and a net margin of 17.87%.
A number of other research firms also recently issued reports on MCRI. Truist Financial cut their target price on shares of Monarch Casino & Resort from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 14th. Finally, Stifel Nicolaus downgraded shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Thursday, April 21st.
Monarch Casino & Resort stock opened at $61.35 on Monday. The company has a 50 day moving average price of $61.95 and a 200 day moving average price of $70.97. Monarch Casino & Resort has a 52 week low of $54.01 and a 52 week high of $94.26. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.54 and a current ratio of 0.59. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 15.04 and a beta of 1.69.
A number of hedge funds and other institutional investors have recently modified their holdings of MCRI. Denali Advisors LLC bought a new position in shares of Monarch Casino & Resort during the 1st quarter valued at $113,000. Captrust Financial Advisors raised its holdings in shares of Monarch Casino & Resort by 30.0% during the 1st quarter. Captrust Financial Advisors now owns 1,593 shares of the company’s stock valued at $139,000 after purchasing an additional 368 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Monarch Casino & Resort during the 4th quarter valued at $188,000. PNC Financial Services Group Inc. raised its holdings in shares of Monarch Casino & Resort by 190.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the company’s stock valued at $189,000 after purchasing an additional 1,421 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Monarch Casino & Resort by 27.3% in the 1st quarter. SG Americas Securities LLC now owns 2,336 shares of the company’s stock worth $204,000 after acquiring an additional 501 shares during the period. Institutional investors own 62.45% of the company’s stock.
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Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. The company also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. As of December 31, 2021, its Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 818 guest rooms and suites; 8 food outlets; 2 gourmet coffee 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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