Wall Street analysts expect Monarch Casino & Resort, Inc. (NASDAQ:MCRI) to announce $64.25 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Monarch Casino & Resort’s earnings, with the lowest sales estimate coming in at $59.30 million and the highest estimate coming in at $69.20 million. Monarch Casino & Resort posted sales of $62.08 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.5%. The firm is expected to issue its next earnings results on Wednesday, March 10th.
On average, analysts expect that Monarch Casino & Resort will report full-year sales of $190.30 million for the current financial year, with estimates ranging from $185.30 million to $195.30 million. For the next year, analysts forecast that the business will report sales of $295.25 million, with estimates ranging from $287.50 million to $303.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Monarch Casino & Resort.
Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Thursday, October 29th. The company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.43. Monarch Casino & Resort had a return on equity of 5.54% and a net margin of 7.77%.
MCRI has been the subject of several recent analyst reports. BidaskClub raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Truist lifted their price target on Monarch Casino & Resort from $60.00 to $65.00 in a research report on Monday, November 30th. ValuEngine lowered Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Thursday, October 1st. Finally, Macquarie lifted their price target on Monarch Casino & Resort from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Monarch Casino & Resort has a consensus rating of “Buy” and a consensus price target of $50.29.
MCRI opened at $53.30 on Friday. The stock has a 50-day moving average price of $48.43 and a 200-day moving average price of $42.38. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.84 and a quick ratio of 0.72. The firm has a market cap of $973.42 million, a PE ratio of 69.22 and a beta of 1.56. Monarch Casino & Resort has a 1 year low of $12.83 and a 1 year high of $57.57.
Large investors have recently modified their holdings of the business. Jeppson Wealth Management LLC purchased a new position in Monarch Casino & Resort in the 3rd quarter worth about $29,000. Bank of Montreal Can grew its stake in shares of Monarch Casino & Resort by 192.2% during the 2nd quarter. Bank of Montreal Can now owns 2,858 shares of the company’s stock valued at $90,000 after purchasing an additional 1,880 shares during the period. Advisor Group Holdings Inc. grew its stake in shares of Monarch Casino & Resort by 35.2% during the 2nd quarter. Advisor Group Holdings Inc. now owns 2,737 shares of the company’s stock valued at $93,000 after purchasing an additional 712 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Monarch Casino & Resort by 333.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,211 shares of the company’s stock valued at $143,000 after purchasing an additional 2,470 shares during the period. Finally, Teton Advisors Inc. bought a new stake in shares of Monarch Casino & Resort during the 2nd quarter valued at about $204,000. 55.03% of the stock is owned by institutional investors and hedge funds.
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 March 11, 2020, the company’s Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 818 guest rooms; 8 food outlets; 2 gourmet coffee and pastry bars; 1 snack bar; 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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