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

Monarch Casino & Resort (NASDAQ:MCRI) is projected to announce its earnings results before the market opens on Wednesday, February 12th. Analysts expect the company to announce earnings of $1.13 per share and revenue of $128.63 million for the quarter.

Monarch Casino & Resort Stock Performance

Shares of Monarch Casino & Resort stock opened at $85.90 on Wednesday. Monarch Casino & Resort has a 52-week low of $64.50 and a 52-week high of $89.06. The stock’s 50-day simple moving average is $82.47 and its 200 day simple moving average is $78.91. The stock has a market capitalization of $1.58 billion, a P/E ratio of 19.00 and a beta of 1.74.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MCRI shares. Wells Fargo & Company began coverage on Monarch Casino & Resort in a research report on Monday, December 16th. They set an “underweight” rating and a $79.00 price target on the stock. Truist Financial raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and upped their target price for the stock from $82.00 to $100.00 in a research note on Tuesday, January 14th. StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Stifel Nicolaus boosted their price objective on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group upped their target price on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.00.

Insider Activity at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $77.70, for a total value of $77,700.00. Following the transaction, the chief executive officer now directly owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. This trade represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 24.94% of the stock is currently owned by insiders.

Monarch Casino & Resort Company Profile

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.