Monarch Casino & Resort (NASDAQ:MCRI) downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of Monarch Casino & Resort (NASDAQ:MCRI – Get a Rating) from a buy rating to a hold rating in a research note released Wednesday, Zacks.com reports.
According to Zacks, “Monarch Casino & Resort, Inc. is dedicated to providing the ultimate guest experience by providing exceptional services along with the latest gaming, dining and hospitality amenities. With a focus on the higher expectations of their clients, they continue to aggressively reinvest in our properties. As a market leader, they invite them to learn more about their business, their operations and their management team. Monarch Casino & Resort, Inc., through its subsidiaries, owns and operates Atlantis Casino Resort Spa, a hotel/casino in Reno, Nevada, and Monarch Black Hawk Casino in Black Hawk, Colorado, approximately 40 miles west of Denver. “
Several other equity research analysts have also published reports on the MCRI. Jefferies Financial Group lowered its target price on shares of Monarch Casino & Resort from $83.00 to $82.00 in a Friday, January 21 research note. StockNews.com moved shares of Monarch Casino & Resort from a buy rating to a strong buy rating in a Wednesday, April 6 research note.
NASDAQ:MCRI opened at $85.83 on Wednesday. Monarch Casino & Resort has a one-year minimum of $56.35 and a one-year maximum of $89.07. The company has a debt ratio of 0.15, a quick ratio of 0.54 and a current ratio of 0.60. The company has a market capitalization of $1.62 billion, a price-earnings ratio of 24.38 and a beta of 1.65. The company’s fifty-day moving average is $80.79 and its two-hundred-day moving average is $73.07.
Monarch Casino & Resort (NASDAQ:MCRI – Get Rating) last released its quarterly results on Wednesday, February 9. The company reported EPS of $1.02 for the quarter, beating the consensus estimate of $0.90 by $0.12. Monarch Casino & Resort achieved a net margin of 17.32% and a return on equity of 16.57%. The company posted revenue of $111.07 million for the quarter, versus analyst estimates of $97.03 million. As a group, equity research analysts expect Monarch Casino & Resort to post earnings per share of $4.99 for the current fiscal year.
Institutional investors and hedge funds have recently increased or reduced their stakes in the stock. O Shaughnessy Asset Management LLC increased its position in Monarch Casino & Resort shares by 34.4% during the third quarter. O Shaughnessy Asset Management LLC now owns 856 shares of the company worth $57,000 after buying 219 additional shares in the last quarter. Morgan Dempsey Capital Management LLC increased its stake in Monarch Casino & Resort by 20.5% in Q3. Morgan Dempsey Capital Management LLC now owns 1,481 shares of the company valued at $99,000 after acquiring 252 additional shares in the last quarter. Royal Bank of Canada increased its stake in Monarch Casino & Resort by 33.6% in the second quarter. Royal Bank of Canada now owns 2,012 shares of the company valued at $133,000 after acquiring 506 more shares in the last quarter. SG Americas Securities LLC acquired a new stake in Monarch Casino & Resort in Q3 valued at approximately $188,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Monarch Casino & Resort in Q4 valued at approximately $188,000. Hedge funds and other institutional investors hold 63.41% of the company’s shares.
Monarch Casino & Resort Company Profile (Get a rating)
Monarch Casino & Resort, Inc., through its subsidiaries, owns and operates Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. The company also owns and operates Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. As of December 31, 2021, its Atlantis Casino Resort Spa had approximately 61,000 square feet of casino space; 818 rooms and suites; 8 food outlets; 2 gourmet cafés and pastry bars; a 30,000-square-foot spa and health salon with an enclosed pool; 2 retail outlets offering clothing and gift shop items; an 8,000 square foot family entertainment center; and approximately 52,000 square feet of banquet, convention and meeting space.
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