ValuEngine Upgrades Monarch Casino & Resort (MCRI) to “Buy”

ValuEngine upgraded shares of Monarch Casino & Resort (NASDAQ:MCRI) from a hold rating to a buy rating in a research report sent to investors on Thursday.

Separately, BidaskClub raised Monarch Casino & Resort from a strong sell rating to a sell rating in a report on Wednesday, October 3rd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Monarch Casino & Resort has an average rating of Hold and a consensus target price of $50.00.

NASDAQ:MCRI opened at $42.97 on Thursday. The firm has a market capitalization of $749.40 million, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.72 and a current ratio of 0.78. Monarch Casino & Resort has a 12 month low of $34.45 and a 12 month high of $49.63.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, October 24th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $64.36 million for the quarter, compared to analyst estimates of $65.15 million. Monarch Casino & Resort had a return on equity of 11.79% and a net margin of 13.20%. Analysts predict that Monarch Casino & Resort will post 1.86 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc grew its holdings in shares of Monarch Casino & Resort by 5.3% during the third quarter. Vanguard Group Inc now owns 697,819 shares of the company’s stock worth $31,716,000 after buying an additional 35,341 shares during the last quarter. Vanguard Group Inc. lifted its position in Monarch Casino & Resort by 5.3% in the third quarter. Vanguard Group Inc. now owns 697,819 shares of the company’s stock valued at $31,716,000 after purchasing an additional 35,341 shares during the period. Legal & General Group Plc lifted its position in Monarch Casino & Resort by 11.3% in the third quarter. Legal & General Group Plc now owns 25,135 shares of the company’s stock valued at $1,143,000 after purchasing an additional 2,552 shares during the period. Teachers Advisors LLC lifted its position in Monarch Casino & Resort by 7.2% in the third quarter. Teachers Advisors LLC now owns 24,880 shares of the company’s stock valued at $1,131,000 after purchasing an additional 1,672 shares during the period. Finally, AQR Capital Management LLC lifted its position in Monarch Casino & Resort by 5.8% in the third quarter. AQR Capital Management LLC now owns 56,027 shares of the company’s stock valued at $2,547,000 after purchasing an additional 3,065 shares during the period. 60.32% of the stock is currently owned by institutional investors.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada. It also owns and operates the Monarch Casino Black Hawk in Black Hawk, Colorado. As of March 5, 2018, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 824 guest rooms; 8 food outlets; 2 espresso and pastry bars; a 30,000 square-foot health spa and salon with an enclosed pool; 2 retail outlets offering clothing and gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention, and meeting room space.

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