Wells Fargo & Company Issues Positive Forecast for Monarch Casino & Resort (NASDAQ:MCRI) Stock Price

Key Points

• Wells Fargo & Company raised its price target on Monarch to $99 and kept an "equal weight" rating, a level that implies roughly a 9.85% downside from the recent share price.
• Monarch reported record Q1 results—revenue $136.6M (+8.9% y/y) and EPS $1.52, beating estimates—and declared a $0.30 quarterly dividend; Truist meanwhile upgraded the stock to a buy with a $125 target.
• Analyst sentiment is mixed (two Buys, five Holds) with a MarketBeat consensus rating of Hold and a $106 consensus target, while the stock traded near $109.82 and is majority‑owned by institutions (~62%).

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) had its target price lifted by Wells Fargo & Company from $97.00 to $99.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential downside of 9.85% from the stock's current price.

A number of other research firms have also recently commented on MCRI. Jefferies Financial Group reissued a "hold" rating and set a $112.00 price target on shares of Monarch Casino & Resort in a report on Wednesday, December 24th. Zacks Research lowered Monarch Casino & Resort from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Truist Financial boosted their target price on Monarch Casino & Resort from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday. Weiss Ratings reissued a "buy (b-)" rating on shares of Monarch Casino & Resort in a report on Monday, December 29th. Finally, Stifel Nicolaus raised their price target on shares of Monarch Casino & Resort from $97.00 to $102.00 and gave the company a "hold" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $106.00.

Monarch Casino & Resort Price Performance

NASDAQ:MCRI traded up $11.24 during mid-day trading on Wednesday, reaching $109.82. The stock had a trading volume of 152,683 shares, compared to its average volume of 115,015. The stock has a 50-day simple moving average of $97.14 and a two-hundred day simple moving average of $95.69. The stock has a market capitalization of $1.95 billion, a PE ratio of 20.24 and a beta of 1.30. Monarch Casino & Resort has a 12 month low of $76.00 and a 12 month high of $114.27.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its earnings results on Tuesday, April 21st. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.37. The firm had revenue of $136.55 million during the quarter, compared to analysts' expectations of $128.49 million. Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.Monarch Casino & Resort's revenue was up 8.9% compared to the same quarter last year. Equities analysts expect that Monarch Casino & Resort will post 5.95 EPS for the current year.

Insiders Place Their Bets

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $99.00, for a total value of $198,000.00. Following the completion of the transaction, the chief executive officer directly owned 536,304 shares in the company, valued at approximately $53,094,096. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 25.52% of the stock is owned by corporate insiders.

Institutional Trading of Monarch Casino & Resort

Several hedge funds and other institutional investors have recently made changes to their positions in MCRI. Vanguard Group Inc. raised its holdings in Monarch Casino & Resort by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,030,396 shares of the company's stock valued at $98,609,000 after buying an additional 5,667 shares during the last quarter. American Century Companies Inc. grew its holdings in Monarch Casino & Resort by 4.3% during the 3rd quarter. American Century Companies Inc. now owns 491,400 shares of the company's stock worth $52,010,000 after acquiring an additional 20,328 shares during the last quarter. Geode Capital Management LLC grew its holdings in Monarch Casino & Resort by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 396,844 shares of the company's stock worth $37,983,000 after acquiring an additional 10,890 shares during the last quarter. Tributary Capital Management LLC increased its position in Monarch Casino & Resort by 57.8% in the 3rd quarter. Tributary Capital Management LLC now owns 389,306 shares of the company's stock valued at $41,204,000 after acquiring an additional 142,621 shares during the period. Finally, Invesco Ltd. increased its position in Monarch Casino & Resort by 38.2% in the 4th quarter. Invesco Ltd. now owns 194,371 shares of the company's stock valued at $18,601,000 after acquiring an additional 53,745 shares during the period. 62.37% of the stock is currently owned by institutional investors.

Key Stories Impacting Monarch Casino & Resort

Here are the key news stories impacting Monarch Casino & Resort this week:

• Positive Sentiment: Record Q1 results — Monarch reported record first-quarter 2026 results: revenue $136.6M (+8.9% y/y), net income $27.6M (+38.9% y/y), adjusted EBITDA $48.95M (+19%), and diluted EPS $1.52 vs. $1.05 a year ago; the quarter beat revenue and EPS consensus. This is the primary driver of today's bullish sentiment. View Press Release
• Positive Sentiment: Dividend declared — the company declared a quarterly dividend of $0.30 per share (annualized yield ~1.2%); record/ex‑dividend date: investors of record June 1; payable June 15. The payout and the timing can support investor demand for the stock. Dividend Report
• Positive Sentiment: Truist upgrade and higher target — Truist raised its price target to $125 and has a "buy" rating, implying ~27% upside from the referenced $98.58 level; this is a strong bullish signal for growth/earnings visibility. Truist Note
• Neutral Sentiment: Stifel adjusts target but keeps hold — Stifel raised its price target modestly to $102 but kept a "hold" rating (small implied upside), indicating some analyst caution on valuation or near-term catalysts despite the beat. Stifel Note
• Neutral Sentiment: Media / analyst coverage — multiple outlets (Zacks, TipRanks, GlobeNewswire) highlighted the earnings beat and shareholder returns; broader coverage can fuel intraday flows but also brings more analyst scrutiny. Zacks Earnings TipRanks

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company's flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property's showroom.

Monarch's revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.