Monarch Casino & Resort (MCRI) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of Monarch Casino & Resort (NASDAQ:MCRI) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

Separately, ValuEngine downgraded Monarch Casino & Resort from a buy rating to a hold rating in a report on Wednesday, January 2nd. Five analysts have rated the stock with a hold rating, Monarch Casino & Resort currently has an average rating of Hold and an average target price of $50.00.

Shares of NASDAQ:MCRI traded up $0.17 on Wednesday, hitting $42.05. 10,633 shares of the company’s stock were exchanged, compared to its average volume of 52,917. The stock has a market cap of $703.59 million, a P/E ratio of 28.61, a P/E/G ratio of 1.49 and a beta of 1.15. Monarch Casino & Resort has a 1-year low of $34.45 and a 1-year high of $49.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.72 and a current ratio of 0.78.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Wednesday, October 24th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Monarch Casino & Resort had a return on equity of 11.79% and a net margin of 13.20%. The business had revenue of $64.36 million during the quarter, compared to analysts’ expectations of $65.15 million. On average, equities research analysts predict that Monarch Casino & Resort will post 1.86 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. grew its holdings in shares of Monarch Casino & Resort by 8.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 57,225 shares of the company’s stock worth $2,521,000 after acquiring an additional 4,219 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Monarch Casino & Resort during the 3rd quarter worth $468,000. BlackRock Inc. lifted its stake in shares of Monarch Casino & Resort by 6.5% during the 2nd quarter. BlackRock Inc. now owns 1,654,865 shares of the company’s stock worth $72,898,000 after purchasing an additional 101,600 shares during the period. Northern Trust Corp lifted its stake in shares of Monarch Casino & Resort by 6.0% during the 2nd quarter. Northern Trust Corp now owns 200,079 shares of the company’s stock worth $8,815,000 after purchasing an additional 11,408 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Monarch Casino & Resort during the 3rd quarter worth $3,154,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada. It also owns and operates the Monarch Casino Black Hawk in Black Hawk, Colorado. As of March 5, 2018, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 824 guest rooms; 8 food outlets; 2 espresso and pastry bars; a 30,000 square-foot health spa and salon with an enclosed pool; 2 retail outlets offering clothing and gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention, and meeting room space.

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