Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Consensus Rating of "Hold" from Analysts

Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) has been assigned an average rating of "Hold" from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $88.60.

Several research analysts have issued reports on the stock. Truist Financial decreased their price target on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Macquarie reissued a "neutral" rating and issued a $92.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd. Wells Fargo & Company raised their price objective on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 12th. Stifel Nicolaus reduced their price target on shares of Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Finally, StockNews.com lowered Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th.

Hedge Funds Weigh In On Monarch Casino & Resort

Several institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. lifted its holdings in Monarch Casino & Resort by 0.8% in the 4th quarter. Alliancebernstein L.P. now owns 15,381 shares of the company's stock worth $1,214,000 after purchasing an additional 121 shares during the last quarter. TD Private Client Wealth LLC raised its stake in shares of Monarch Casino & Resort by 72.6% in the first quarter. TD Private Client Wealth LLC now owns 378 shares of the company's stock valued at $29,000 after acquiring an additional 159 shares during the last quarter. Heritage Family Offices LLP lifted its position in Monarch Casino & Resort by 7.0% during the 4th quarter. Heritage Family Offices LLP now owns 2,993 shares of the company's stock worth $236,000 after buying an additional 196 shares in the last quarter. New York State Teachers Retirement System raised its position in Monarch Casino & Resort by 0.9% in the 4th quarter. New York State Teachers Retirement System now owns 24,706 shares of the company's stock worth $1,949,000 after purchasing an additional 210 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in Monarch Casino & Resort by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,948 shares of the company's stock worth $785,000 after purchasing an additional 250 shares during the last quarter. 62.37% of the stock is currently owned by institutional investors.

Monarch Casino & Resort Price Performance

Monarch Casino & Resort stock opened at $79.40 on Thursday. Monarch Casino & Resort has a 12-month low of $64.58 and a 12-month high of $96.11. The stock has a market capitalization of $1.47 billion, a PE ratio of 16.04 and a beta of 1.59. The firm has a 50 day simple moving average of $79.38 and a 200-day simple moving average of $82.10.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.01. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. The business had revenue of $125.39 million during the quarter, compared to analysts' expectations of $122.70 million. On average, analysts forecast that Monarch Casino & Resort will post 5.13 earnings per share for the current fiscal year.

About Monarch Casino & Resort

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.

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