Monarch Casino & Resort (NASDAQ:MCRI) Posts Earnings Results, Beats Estimates By $0.23 EPS

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

Monarch Casino & Resort Stock Performance

Shares of MCRI stock traded up $0.40 during mid-day trading on Tuesday, reaching $85.81. 54,062 shares of the company were exchanged, compared to its average volume of 88,031. Monarch Casino & Resort has a fifty-two week low of $64.50 and a fifty-two week high of $89.06. The company has a market capitalization of $1.58 billion, a P/E ratio of 18.98 and a beta of 1.74. The business’s 50 day simple moving average is $82.61 and its 200 day simple moving average is $79.34.

Insider Transactions at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of Monarch Casino & Resort 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 completion of the transaction, the chief executive officer now directly owns 528,436 shares in the company, valued at $41,059,477.20. The trade was a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 24.94% of the company’s stock.

Analyst Ratings Changes

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

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.