Monarch Casino & Resort, Inc. Expected to Post FY2017 Earnings of $1.50 Per Share (MCRI)

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) – Gabelli increased their FY2017 earnings per share estimates for Monarch Casino & Resort in a report released on Monday. Gabelli analyst A. Trivison now forecasts that the company will post earnings of $1.50 per share for the year, up from their prior forecast of $1.45.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. The firm had revenue of $58.23 million during the quarter, compared to analysts’ expectations of $58.00 million. Monarch Casino & Resort had a net margin of 11.77% and a return on equity of 11.16%. ILLEGAL ACTIVITY NOTICE: This story was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this story on another publication, it was illegally stolen and republished in violation of U.S. and international copyright legislation. The correct version of this story can be read at https://stocknewstimes.com/2017/10/11/monarch-casino-resort-inc-expected-to-post-fy2017-earnings-of-1-50-per-share-mcri.html.

Several other analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday. ValuEngine lowered shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub upgraded shares of Monarch Casino & Resort from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Stifel Nicolaus reiterated a “hold” rating and set a $33.00 target price on shares of Monarch Casino & Resort in a research note on Friday, July 28th. Finally, Imperial Capital boosted their target price on shares of Monarch Casino & Resort from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $48.00.

Shares of Monarch Casino & Resort (NASDAQ MCRI) opened at 40.53 on Tuesday. The company’s 50-day moving average is $36.51 and its 200-day moving average is $32.26. The firm has a market cap of $712.03 million, a PE ratio of 27.44 and a beta of 1.04. Monarch Casino & Resort has a 52 week low of $21.13 and a 52 week high of $40.83.

In other news, President Bob Farahi sold 34,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $34.43, for a total transaction of $1,170,620.00. Following the completion of the transaction, the president now owns 482,516 shares of the company’s stock, valued at $16,613,025.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 27.56% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Monarch Casino & Resort during the second quarter valued at $156,000. Russell Investments Group Ltd. acquired a new position in shares of Monarch Casino & Resort during the second quarter valued at $173,000. KCG Holdings Inc. acquired a new position in shares of Monarch Casino & Resort during the first quarter valued at $201,000. Thrivent Financial For Lutherans acquired a new position in shares of Monarch Casino & Resort during the second quarter valued at $201,000. Finally, Nationwide Fund Advisors boosted its holdings in shares of Monarch Casino & Resort by 6.6% during the second quarter. Nationwide Fund Advisors now owns 7,156 shares of the company’s stock valued at $216,000 after acquiring an additional 446 shares during the period. 58.43% of the stock is 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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