Equities analysts expect Monarch Casino & Resort, Inc. (NASDAQ:MCRI) to post $57.95 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Monarch Casino & Resort’s earnings, with the lowest sales estimate coming in at $57.90 million and the highest estimate coming in at $58.00 million. Monarch Casino & Resort reported sales of $58.74 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1.3%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 22nd.
According to Zacks, analysts expect that Monarch Casino & Resort will report full-year sales of $285.00 million for the current year, with estimates ranging from $278.20 million to $291.80 million. For the next financial year, analysts forecast that the company will report sales of $333.00 million, with estimates ranging from $332.60 million to $333.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Monarch Casino & Resort.
Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, March 11th. The company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.06). Monarch Casino & Resort had a return on equity of 11.17% and a net margin of 12.77%. The company had revenue of $62.08 million during the quarter, compared to analyst estimates of $62.35 million.
A number of research firms have recently weighed in on MCRI. BidaskClub raised shares of Monarch Casino & Resort from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research downgraded shares of Monarch Casino & Resort from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Stifel Nicolaus dropped their price target on shares of Monarch Casino & Resort from $51.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, March 13th. Finally, Jefferies Financial Group raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and upped their price target for the stock from $46.00 to $58.00 in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $47.00.
In other Monarch Casino & Resort news, President Bob Farahi bought 5,000 shares of the stock in a transaction on Monday, March 16th. The shares were purchased at an average cost of $20.11 per share, with a total value of $100,550.00. Following the completion of the transaction, the president now directly owns 398,265 shares of the company’s stock, valued at approximately $8,009,109.15. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 26.64% of the company’s stock.
A number of institutional investors have recently bought and sold shares of MCRI. Nisa Investment Advisors LLC bought a new stake in Monarch Casino & Resort during the fourth quarter valued at about $53,000. SG Americas Securities LLC bought a new stake in Monarch Casino & Resort during the fourth quarter valued at about $105,000. Russell Investments Group Ltd. bought a new stake in Monarch Casino & Resort during the third quarter valued at about $150,000. First Republic Investment Management Inc. bought a new stake in Monarch Casino & Resort during the fourth quarter valued at about $218,000. Finally, Victory Capital Management Inc. boosted its holdings in Monarch Casino & Resort by 32.9% during the fourth quarter. Victory Capital Management Inc. now owns 6,009 shares of the company’s stock valued at $323,000 after acquiring an additional 1,486 shares during the period. 61.44% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ MCRI opened at $28.04 on Friday. Monarch Casino & Resort has a 1-year low of $12.83 and a 1-year high of $57.57. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $406.19 million, a PE ratio of 16.40 and a beta of 1.02. The firm’s fifty day simple moving average is $41.12 and its 200-day simple moving average is $44.92.
Monarch Casino & Resort Company Profile
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 February 20, 2019, 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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