Monarch Casino & Resort (MCRI) Expected to Announce Quarterly Earnings on Wednesday

Monarch Casino & Resort (NASDAQ:MCRI) will likely be announcing 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 Up 1.3 %

NASDAQ MCRI opened at $85.90 on Wednesday. The stock’s 50-day moving average price is $82.47 and its 200-day moving average price is $78.91. Monarch Casino & Resort has a 52 week low of $64.50 and a 52 week high of $89.06. The company 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 analysts recently issued reports on MCRI shares. Wells Fargo & Company started coverage on Monarch Casino & Resort in a research note on Monday, December 16th. They set an “underweight” rating and a $79.00 target price on the stock. StockNews.com cut Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Truist Financial upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and lifted their target price for the stock from $82.00 to $100.00 in a report on Tuesday, January 14th. Stifel Nicolaus lifted their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group boosted their price objective 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 investment 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. Based on data from MarketBeat.com, Monarch Casino & Resort currently 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 Monarch Casino & Resort stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total transaction of $77,700.00. Following the completion of the sale, the chief executive officer now directly owns 528,436 shares of the company’s stock, valued at $41,059,477.20. The trade was a 0.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 24.94% of the stock is owned by company insiders.

About Monarch Casino & Resort

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.