Brokerages expect Monarch Casino & Resort, Inc. (NASDAQ:MCRI) to announce $60.83 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Monarch Casino & Resort’s earnings. The lowest sales estimate is $58.80 million and the highest is $64.40 million. Monarch Casino & Resort reported sales of $62.08 million in the same quarter last year, which indicates a negative year-over-year growth rate of 2%. The business is scheduled to issue its next earnings results on Wednesday, March 10th.
On average, analysts expect that Monarch Casino & Resort will report full year sales of $186.83 million for the current fiscal year, with estimates ranging from $184.80 million to $190.40 million. For the next fiscal year, analysts expect that the company will report sales of $297.80 million, with estimates ranging from $287.50 million to $310.80 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Monarch Casino & Resort.
Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Thursday, October 29th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.43. Monarch Casino & Resort had a net margin of 7.77% and a return on equity of 5.54%. The business had revenue of $59.87 million during the quarter, compared to the consensus estimate of $46.55 million.
MCRI has been the subject of a number of analyst reports. Macquarie lifted their target price on shares of Monarch Casino & Resort from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 2nd. Truist lifted their target price on shares of Monarch Casino & Resort from $60.00 to $65.00 in a research note on Monday, November 30th. Stifel Nicolaus began coverage on shares of Monarch Casino & Resort in a research note on Wednesday, December 9th. They set a “buy” rating for the company. ValuEngine downgraded shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Thursday, October 1st. Finally, BidaskClub raised shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 22nd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $50.29.
Shares of NASDAQ MCRI opened at $59.50 on Monday. Monarch Casino & Resort has a twelve month low of $12.83 and a twelve month high of $59.62. The firm has a fifty day simple moving average of $52.74 and a 200 day simple moving average of $44.12. The company has a market capitalization of $1.09 billion, a PE ratio of 77.27 and a beta of 1.64. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.49.
Several large investors have recently bought and sold shares of MCRI. First Trust Advisors LP increased its position in shares of Monarch Casino & Resort by 1.3% during the first quarter. First Trust Advisors LP now owns 21,559 shares of the company’s stock worth $947,000 after acquiring an additional 269 shares in the last quarter. Swiss National Bank increased its position in shares of Monarch Casino & Resort by 15.1% during the second quarter. Swiss National Bank now owns 28,211 shares of the company’s stock worth $961,000 after acquiring an additional 3,700 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Monarch Casino & Resort by 667.7% during the second quarter. Russell Investments Group Ltd. now owns 21,495 shares of the company’s stock worth $731,000 after acquiring an additional 18,695 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Monarch Casino & Resort by 29.0% during the second quarter. New York State Common Retirement Fund now owns 12,900 shares of the company’s stock worth $440,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Monarch Casino & Resort during the second quarter worth about $213,000. 55.03% of the stock is owned by institutional investors.
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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