Monarch Casino & Resort (NASDAQ:MCRI) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, February 2nd.
Separately, BidaskClub upgraded Monarch Casino & Resort from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Five analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average price target of $50.00.
Shares of NASDAQ MCRI traded down $0.37 during mid-day trading on Friday, reaching $44.09. The company had a trading volume of 21,800 shares, compared to its average volume of 38,045. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.79 and a quick ratio of 0.72. The firm has a market capitalization of $803.44 million, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18. Monarch Casino & Resort has a 12-month low of $34.45 and a 12-month high of $49.63.
Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, February 20th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Monarch Casino & Resort had a return on equity of 11.92% and a net margin of 14.19%. The company had revenue of $59.78 million during the quarter, compared to analysts’ expectations of $56.40 million. On average, analysts predict that Monarch Casino & Resort will post 2.08 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the business. FMR LLC grew its stake in shares of Monarch Casino & Resort by 18.5% in the fourth quarter. FMR LLC now owns 2,558 shares of the company’s stock worth $98,000 after acquiring an additional 400 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Monarch Casino & Resort in the fourth quarter worth $128,000. Metropolitan Life Insurance Co. NY grew its stake in shares of Monarch Casino & Resort by 375.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,992 shares of the company’s stock worth $152,000 after acquiring an additional 3,152 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in shares of Monarch Casino & Resort in the fourth quarter worth $171,000. Finally, Millennium Management LLC acquired a new stake in shares of Monarch Casino & Resort in the fourth quarter worth $221,000. Institutional investors own 61.98% of the company’s stock.
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 5, 2018, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 824 guest rooms; 8 food outlets; 2 espresso and pastry bars; 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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