Monarch Casino & Resort (NASDAQ:MCRI) Issues Earnings Results

Monarch Casino & Resort (NASDAQ:MCRI) posted its quarterly earnings data on Tuesday. The company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.23, Zacks reports. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. During the same quarter in the previous year, the firm earned $1.03 earnings per share.

Monarch Casino & Resort Price Performance

MCRI stock opened at $85.81 on Wednesday. Monarch Casino & Resort has a 1 year low of $64.50 and a 1 year high of $89.06. The firm has a market capitalization of $1.58 billion, a PE ratio of 18.98 and a beta of 1.74. The business has a 50 day simple moving average of $82.62 and a 200-day simple moving average of $79.39.

Wall Street Analysts Forecast Growth

MCRI has been the subject of several research analyst reports. Jefferies Financial Group upped their price target on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. Stifel Nicolaus increased their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Truist Financial upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and raised their target price for the company from $82.00 to $100.00 in a research report on Tuesday, January 14th. Wells Fargo & Company began coverage on Monarch Casino & Resort in a research report on Monday, December 16th. They set an “underweight” rating and a $79.00 price target for the company. Finally, StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $84.00.

Insider Buying and Selling

In other news, CEO John Farahi sold 1,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total value of $77,700.00. Following the completion of the sale, the chief executive officer now owns 528,436 shares of the company’s stock, valued at $41,059,477.20. This represents a 0.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 24.94% of the stock is currently owned by company insiders.

Monarch Casino & Resort Company Profile

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.