Monarch Casino & Resort (NASDAQ:MCRI) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Monarch Casino & Resort (NASDAQ:MCRI) from a sell rating to a hold rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “Monarch Casino & Resort, Inc. is dedicated to deliver the ultimate guest experience by providing exceptional services as well as the latest gaming, dining and hospitality amenities. With a main focus on their guests’ superior expectations, they continue to aggressively reinvest in our properties. As a market leader, they invite them to become more familiar with their company, their operations and their management team. Monarch Casino & Resort, Inc., through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado, approximately 40 miles west of Denver. “

Separately, BidaskClub upgraded shares of Zebra Technologies from a hold rating to a buy rating in a research report on Saturday, July 6th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $50.00.

Shares of Monarch Casino & Resort stock traded down $0.85 during trading on Tuesday, reaching $43.67. 29,906 shares of the company traded hands, compared to its average volume of 49,117. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 0.36. Monarch Casino & Resort has a 1-year low of $34.45 and a 1-year high of $49.63. The company has a 50 day moving average price of $43.07. The company has a market cap of $800.72 million, a price-to-earnings ratio of 23.86, a PEG ratio of 1.88 and a beta of 1.03.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, April 24th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.01. Monarch Casino & Resort had a net margin of 14.16% and a return on equity of 11.61%. The company had revenue of $58.74 million for the quarter, compared to the consensus estimate of $56.40 million. As a group, equities research analysts forecast that Monarch Casino & Resort will post 1.89 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Monarch Casino & Resort by 2.0% during the 4th quarter. BlackRock Inc. now owns 1,739,615 shares of the company’s stock valued at $66,349,000 after acquiring an additional 34,490 shares during the period. Park West Asset Management LLC lifted its position in shares of Monarch Casino & Resort by 0.3% during the 4th quarter. Park West Asset Management LLC now owns 1,532,904 shares of the company’s stock valued at $58,465,000 after acquiring an additional 4,400 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Monarch Casino & Resort by 2.3% during the 4th quarter. Bank of New York Mellon Corp now owns 197,282 shares of the company’s stock valued at $7,525,000 after acquiring an additional 4,388 shares during the period. Geode Capital Management LLC lifted its position in shares of Monarch Casino & Resort by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 137,016 shares of the company’s stock valued at $5,225,000 after acquiring an additional 11,443 shares during the period. Finally, Whittier Trust Co. lifted its position in shares of Monarch Casino & Resort by 4.6% during the 1st quarter. Whittier Trust Co. now owns 54,734 shares of the company’s stock valued at $2,403,000 after acquiring an additional 2,413 shares during the period. Institutional investors own 60.96% of the company’s stock.

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 February 20, 2019, 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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