Equities research analysts expect that Monarch Casino & Resort, Inc. (NASDAQ:MCRI) will announce earnings of $0.38 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Monarch Casino & Resort’s earnings, with estimates ranging from $0.37 to $0.38. Monarch Casino & Resort posted earnings of $0.32 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.8%. The firm is scheduled to report its next earnings report on Wednesday, July 19th.

On average, analysts expect that Monarch Casino & Resort will report full-year earnings of $1.44 per share for the current year, with EPS estimates ranging from $1.40 to $1.47. For the next year, analysts anticipate that the firm will post earnings of $1.58 per share, with EPS estimates ranging from $1.56 to $1.60. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow Monarch Casino & Resort.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Tuesday, April 25th. The company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.01. The company had revenue of $53.41 million during the quarter, compared to analyst estimates of $51.30 million. Monarch Casino & Resort had a return on equity of 10.88% and a net margin of 11.27%.

A number of equities research analysts have commented on MCRI shares. Zacks Investment Research cut shares of Monarch Casino & Resort from a “hold” rating to a “sell” rating in a report on Friday, April 28th. Stifel Nicolaus raised their price target on shares of Monarch Casino & Resort from $27.00 to $29.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Deutsche Bank AG raised their price target on shares of Monarch Casino & Resort from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Finally, Imperial Capital raised their price target on shares of Monarch Casino & Resort from $27.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, April 13th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $43.60.

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Shares of Monarch Casino & Resort (NASDAQ MCRI) traded down 3.13% during trading on Wednesday, reaching $30.34. 76,304 shares of the company were exchanged. Monarch Casino & Resort has a 52-week low of $20.35 and a 52-week high of $32.55. The stock’s 50-day moving average is $30.45 and its 200-day moving average is $27.45. The firm has a market cap of $531.07 million, a price-to-earnings ratio of 21.70 and a beta of 1.00.

Hedge funds and other institutional investors have recently modified their holdings of the stock. KCG Holdings Inc. acquired a new position in shares of Monarch Casino & Resort during the first quarter worth about $201,000. Advisors Preferred LLC acquired a new position in shares of Monarch Casino & Resort during the first quarter worth about $208,000. Hancock Holding Co. acquired a new position in shares of Monarch Casino & Resort during the first quarter worth about $209,000. 361 Capital LLC acquired a new position in shares of Monarch Casino & Resort during the first quarter worth about $213,000. Finally, Comerica Bank boosted its position in shares of Monarch Casino & Resort by 6.3% in the fourth quarter. Comerica Bank now owns 9,897 shares of the company’s stock worth $248,000 after buying an additional 587 shares in the last quarter. Hedge funds and other institutional investors own 57.62% of the company’s stock.

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.

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