Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) have been given a consensus recommendation of "Reduce" by the five research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $80.40.
MCRI has been the topic of several research reports. Stifel Nicolaus boosted their price objective on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a "hold" rating in a report on Thursday, October 24th. StockNews.com lowered Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, December 17th. Jefferies Financial Group raised their price objective on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a "hold" rating in a research report on Friday. 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 objective on the stock. Finally, Truist Financial raised their target price on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a "hold" rating in a research report on Wednesday, October 23rd.
Check Out Our Latest Research Report on MCRI
Monarch Casino & Resort Price Performance
Shares of NASDAQ MCRI traded up $0.50 during trading hours on Friday, hitting $78.24. 78,043 shares of the company's stock were exchanged, compared to its average volume of 68,621. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 17.31 and a beta of 1.73. The company's 50-day moving average price is $82.13 and its 200-day moving average price is $76.49. Monarch Casino & Resort has a 1-year low of $64.50 and a 1-year high of $89.06.
Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The company had revenue of $137.87 million during the quarter, compared to analysts' expectations of $134.50 million. During the same period in the prior year, the business earned $1.38 earnings per share. On average, research analysts expect that Monarch Casino & Resort will post 4.72 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of MCRI. Janus Henderson Group PLC increased its holdings in shares of Monarch Casino & Resort by 0.9% during the third quarter. Janus Henderson Group PLC now owns 388,658 shares of the company's stock worth $30,809,000 after buying an additional 3,488 shares in the last quarter. American Century Companies Inc. increased its holdings in Monarch Casino & Resort by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company's stock valued at $21,371,000 after purchasing an additional 46,323 shares in the last quarter. Wellington Management Group LLP raised its position in Monarch Casino & Resort by 3.9% in the 3rd quarter. Wellington Management Group LLP now owns 219,625 shares of the company's stock valued at $17,410,000 after purchasing an additional 8,283 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Monarch Casino & Resort by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 178,727 shares of the company's stock worth $12,177,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Monarch Casino & Resort by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 175,378 shares of the company's stock worth $11,949,000 after purchasing an additional 9,990 shares in the last quarter. 62.37% of the stock is currently owned by institutional investors and hedge funds.
Monarch Casino & Resort Company Profile
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Get Free ReportMonarch 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.
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