Monarch Casino & Resort (NASDAQ:MCRI) Posts Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Monarch Casino & Resort (NASDAQ:MCRI) announced its quarterly earnings data on Tuesday. The company reported $1.36 earnings per share for the quarter, beating 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 last year, the firm earned $1.03 EPS.

Monarch Casino & Resort Trading Up 0.5 %

Monarch Casino & Resort stock opened at $85.81 on Wednesday. The firm has a market cap of $1.58 billion, a PE ratio of 18.98 and a beta of 1.74. Monarch Casino & Resort has a 12 month low of $64.50 and a 12 month high of $89.06. The stock’s 50 day simple moving average is $82.62 and its two-hundred day simple moving average is $79.39.

Insider Activity

In related news, CEO John Farahi sold 1,000 shares of Monarch Casino & Resort stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $77.70, for a total value of $77,700.00. Following the completion of the transaction, the chief executive officer now owns 528,436 shares in the company, valued at $41,059,477.20. The trade was a 0.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 24.94% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Truist Financial raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and lifted their price target for the stock from $82.00 to $100.00 in a research report on Tuesday, January 14th. Stifel Nicolaus lifted their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Wells Fargo & Company began coverage on shares of Monarch Casino & Resort in a report on Monday, December 16th. They issued an “underweight” rating and a $79.00 price target on the stock. Jefferies Financial Group lifted their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. Finally, StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Monarch Casino & Resort has a consensus rating of “Hold” and a consensus target price of $84.00.

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.