Monarch Casino & Resort (MCRI) Scheduled to Post Earnings on Wednesday

Posted by Defense World Staff on Apr 12th, 2023

Monarch Casino & Resort (NASDAQ:MCRI – Get Rating) will post its quarterly earnings results after the market closes on Wednesday, April 19th. Analysts expect Monarch Casino & Resort to post earnings of $1.01 per share for the quarter.

Monarch Casino & Resort Stock Up 1.6 %

MCRI stock opened at $76.17 on Wednesday. Monarch Casino & Resort has a twelve month low of $54.01 and a twelve month high of $94.26. The company has a market cap of $1.46 billion, a PE ratio of 17.08 and a beta of 1.68. The business’s 50-day simple moving average is $75.28 and its 200 day simple moving average is $75.21.

Monarch Casino & Resort Dividend Announcement

The company also recently disclosed a Variable dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were issued a dividend of $5.00 per share. The ex-dividend date was Tuesday, February 28th.

Hedge Funds Weigh In On Monarch Casino & Resort

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wyoming bought a new position in shares of Monarch Casino & Resort in the fourth quarter valued at approximately $28,000. UBS Group AG lifted its position in Monarch Casino & Resort by 214.2% during the 3rd quarter. UBS Group AG now owns 1,458 shares of the company’s stock worth $82,000 after buying an additional 994 shares in the last quarter. Captrust Financial Advisors grew its holdings in Monarch Casino & Resort by 30.0% during the 1st quarter. Captrust Financial Advisors now owns 1,593 shares of the company’s stock worth $139,000 after acquiring an additional 368 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Monarch Casino & Resort by 190.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the company’s stock valued at $189,000 after acquiring an additional 1,421 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Monarch Casino & Resort in the third quarter worth about $203,000. 61.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MCRI. Macquarie cut Monarch Casino & Resort from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $82.00 to $81.00 in a research report on Wednesday, January 18th. Truist Financial raised their price objective on shares of Monarch Casino & Resort from $89.00 to $95.00 in a report on Wednesday, January 11th. Stifel Nicolaus upped their target price on shares of Monarch Casino & Resort from $85.00 to $91.00 in a research note on Wednesday, February 15th. StockNews.com began coverage on shares of Monarch Casino & Resort in a research note on Thursday, March 16th. They set a “buy” rating for the company. Finally, TheStreet lowered Monarch Casino & Resort from a “b” rating to a “c+” rating in a research note on Thursday, February 16th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Monarch Casino & Resort has an average rating of “Moderate Buy” and an average price target of $89.25.

Monarch Casino & Resort Company Profile

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Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.