Monarch Casino & Resort, Inc. (NASDAQ:MCRI) – Investment analysts at Gabelli upped their FY2018 earnings estimates for Monarch Casino & Resort in a research report issued to clients and investors on Monday. Gabelli analyst A. Trivison now forecasts that the company will earn $1.60 per share for the year, up from their previous forecast of $1.55. Gabelli also issued estimates for Monarch Casino & Resort’s FY2019 earnings at $1.90 EPS.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Tuesday, July 25th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. Monarch Casino & Resort had a return on equity of 11.16% and a net margin of 11.77%. The business had revenue of $58.23 million during the quarter, compared to the consensus estimate of $58.00 million.

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A number of other equities analysts have also recently commented on MCRI. Zacks Investment Research upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Wednesday, July 5th. Imperial Capital increased their price target on Monarch Casino & Resort from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $33.00 price target on shares of Monarch Casino & Resort in a research report on Friday, July 28th. BidaskClub lowered Monarch Casino & Resort from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, ValuEngine raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Monarch Casino & Resort has an average rating of “Hold” and an average price target of $48.00.

In other Monarch Casino & Resort news, President Bob Farahi sold 34,000 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $34.43, for a total value of $1,170,620.00. Following the sale, the president now owns 482,516 shares of the company’s stock, valued at approximately $16,613,025.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 27.56% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of MCRI. Park West Asset Management LLC raised its position in Monarch Casino & Resort by 101.2% in the 1st quarter. Park West Asset Management LLC now owns 905,248 shares of the company’s stock valued at $26,741,000 after purchasing an additional 455,248 shares in the last quarter. Lafitte Capital Management LP raised its position in Monarch Casino & Resort by 14.4% in the 1st quarter. Lafitte Capital Management LP now owns 793,008 shares of the company’s stock valued at $23,425,000 after purchasing an additional 99,839 shares in the last quarter. Uniplan Investment Counsel Inc. raised its position in Monarch Casino & Resort by 40.3% in the 2nd quarter. Uniplan Investment Counsel Inc. now owns 319,068 shares of the company’s stock valued at $9,651,000 after purchasing an additional 91,659 shares in the last quarter. Vanguard Group Inc. raised its position in Monarch Casino & Resort by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 580,692 shares of the company’s stock valued at $17,153,000 after purchasing an additional 54,762 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in shares of Monarch Casino & Resort during the 2nd quarter worth about $1,500,000. 58.43% of the stock is currently owned by institutional investors.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s segments include Atlantis and Monarch Casino Black Hawk.

Earnings History and Estimates for Monarch Casino & Resort (NASDAQ:MCRI)

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