Monarch Casino & Resort, Inc. (NASDAQ:MCRI) – Stock analysts at Gabelli upped their FY2018 earnings per share (EPS) estimates for Monarch Casino & Resort in a note issued to investors on Monday. Gabelli analyst A. Trivison now forecasts that the company will post earnings per share of $1.60 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.

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

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Shares of Monarch Casino & Resort (MCRI) traded down 0.27% on Wednesday, hitting $40.56. The company had a trading volume of 6,275 shares. The firm has a 50 day moving average of $36.69 and a 200-day moving average of $32.32. Monarch Casino & Resort has a 12-month low of $21.13 and a 12-month high of $41.14. The firm has a market capitalization of $712.56 million, a P/E ratio of 27.46 and a beta of 1.04.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $0.40 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to the consensus estimate of $58.00 million.

In other Monarch Casino & Resort news, President Bob Farahi sold 34,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $16,613,025.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 27.56% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in MCRI. Cornerstone Capital Management Holdings LLC. bought a new stake in Monarch Casino & Resort in the second quarter valued at approximately $156,000. Russell Investments Group Ltd. bought a new stake in Monarch Casino & Resort in the second quarter valued at approximately $173,000. KCG Holdings Inc. bought a new stake in Monarch Casino & Resort in the first quarter valued at approximately $201,000. Thrivent Financial For Lutherans bought a new stake in Monarch Casino & Resort in the second quarter valued at approximately $201,000. Finally, Nationwide Fund Advisors raised its stake in Monarch Casino & Resort by 6.6% in the second quarter. Nationwide Fund Advisors now owns 7,156 shares of the company’s stock valued at $216,000 after buying an additional 446 shares during the period. Hedge funds and other institutional investors own 58.43% of the company’s stock.

About Monarch Casino & Resort

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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