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

Monarch Casino & Resort (NASDAQ:MCRI) issued its quarterly earnings results on Tuesday. The company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.23, Zacks reports. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%.

Monarch Casino & Resort Price Performance

Monarch Casino & Resort stock traded up $0.40 during trading hours on Tuesday, hitting $85.81. The stock had a trading volume of 54,060 shares, compared to its average volume of 88,031. Monarch Casino & Resort has a 1-year low of $64.50 and a 1-year high of $89.06. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 18.98 and a beta of 1.74. The stock’s fifty day moving average is $82.61 and its two-hundred day moving average is $79.34.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MCRI shares. StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company started coverage on Monarch Casino & Resort in a research report on Monday, December 16th. They set an “underweight” rating and a $79.00 target price on the stock. Stifel Nicolaus raised their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Jefferies Financial Group upped their price objective on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Finally, Truist Financial raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and raised their target price for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $84.00.

Insider Transactions at Monarch Casino & Resort

In related news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total value of $77,700.00. Following the sale, the chief executive officer now owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. This represents a 0.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 24.94% of the company’s stock.

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.