Monarch Casino & Resort (NASDAQ:MCRI) Posts Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Monarch Casino & Resort (NASDAQ:MCRI) issued its earnings results on Tuesday. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.10), Zacks reports. Monarch Casino & Resort had a return on equity of 20.63% and a net margin of 20.40%.

Monarch Casino & Resort Trading Down 0.7%

Shares of MCRI stock traded down $0.87 during trading hours on Tuesday, reaching $115.28. 146,325 shares of the stock were exchanged, compared to its average volume of 147,237. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 18.47 and a beta of 1.37. Monarch Casino & Resort has a 12-month low of $88.13 and a 12-month high of $135.93. The company’s 50-day moving average price is $119.01 and its 200-day moving average price is $112.07.

Insiders Place Their Bets

In related news, CEO John Farahi sold 5,000 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $124.00, for a total value of $620,000.00. Following the sale, the chief executive officer directly owned 611,556 shares of the company’s stock, valued at $75,832,944. This represents a 0.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 26.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Zacks Research raised shares of Monarch Casino & Resort from a “strong sell” rating to a “hold” rating in a research note on Friday, September 18th. Texas Capital upgraded Monarch Casino & Resort to a “strong-buy” rating in a research report on Wednesday, September 9th. Truist Financial raised their price objective on Monarch Casino & Resort from $125.00 to $144.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Stifel Nicolaus lifted their target price on Monarch Casino & Resort from $102.00 to $128.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Finally, Wall Street Zen downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Monarch Casino & Resort currently has an average rating of “Moderate Buy” and a consensus target price of $124.40.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc operates casino resorts in Nevada and Colorado. The company’s properties combine casino gaming with hotel accommodations, dining, entertainment and other hospitality services.

Its principal properties are Atlantis Casino Resort Spa in Reno, Nevada, and Monarch Casino Resort Spa in Black Hawk, Colorado. The resorts offer gaming facilities, restaurants and bars, hotel rooms and suites, spa services, meeting spaces and entertainment options. The company primarily serves regional visitors and destination guests in the western United States.

Monarch Casino & Resort traces its history to the opening of the Atlantis in Reno in 1972.