Monarch Casino & Resort (MCRI) to Release Quarterly Earnings on Wednesday

Monarch Casino & Resort (NASDAQ:MCRI) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, April 17th. Analysts expect the company to announce earnings of $0.98 per share for the quarter.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Wednesday, February 14th. The company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). Monarch Casino & Resort had a net margin of 16.44% and a return on equity of 17.41%. The company had revenue of $128.19 million during the quarter, compared to analysts’ expectations of $119.33 million. On average, analysts expect Monarch Casino & Resort to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Monarch Casino & Resort Trading Down 1.9 %

Shares of Monarch Casino & Resort stock opened at $71.78 on Thursday. Monarch Casino & Resort has a 12-month low of $56.25 and a 12-month high of $77.64. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.36 billion, a PE ratio of 17.09 and a beta of 1.66. The company has a 50-day moving average of $70.69 and a two-hundred day moving average of $66.76.

Institutional Investors Weigh In On Monarch Casino & Resort

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in Monarch Casino & Resort during the 4th quarter worth $28,000. UBS Group AG boosted its holdings in shares of Monarch Casino & Resort by 214.2% in the 3rd quarter. UBS Group AG now owns 1,458 shares of the company’s stock valued at $82,000 after buying an additional 994 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Monarch Casino & Resort in the 4th quarter valued at about $108,000. Captrust Financial Advisors boosted its holdings in shares of Monarch Casino & Resort by 30.0% in the 1st quarter. Captrust Financial Advisors now owns 1,593 shares of the company’s stock valued at $139,000 after buying an additional 368 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Monarch Casino & Resort by 190.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the company’s stock valued at $189,000 after buying an additional 1,421 shares during the period. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Truist Financial increased their price target on shares of Monarch Casino & Resort from $72.00 to $74.00 and gave the company a “hold” rating in a research report on Thursday, February 15th. Finally, Stifel Nicolaus restated a “hold” rating and set a $70.00 target price on shares of Monarch Casino & Resort in a research report on Friday, January 5th.

About Monarch Casino & Resort

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.