Monarch Casino & Resort (NASDAQ:MCRI) Posts Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Monarch Casino & Resort (NASDAQ:MCRI) released its earnings results on Tuesday. The company reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.10), Zacks reports. Monarch Casino & Resort had a net margin of 20.40% and a return on equity of 20.63%.

Monarch Casino & Resort Price Performance

MCRI stock traded down $0.87 during trading on Tuesday, hitting $115.28. 146,315 shares of the stock traded hands, compared to its average volume of 147,237. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 18.47 and a beta of 1.37. Monarch Casino & Resort has a 1 year low of $88.13 and a 1 year high of $135.93. The firm’s 50 day moving average is $119.01 and its two-hundred day moving average is $112.07.

Insider Transactions at Monarch Casino & Resort

In other news, CEO John Farahi sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $124.00, for a total value of $620,000.00. Following the transaction, the chief executive officer owned 611,556 shares in the company, valued at approximately $75,832,944. This represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 26.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MCRI. Jefferies Financial Group reiterated a “hold” rating on shares of Monarch Casino & Resort in a report on Thursday, July 2nd. Zacks Research upgraded shares of Monarch Casino & Resort from a “strong sell” rating to a “hold” rating in a report on Friday, September 18th. Texas Capital upgraded shares of Monarch Casino & Resort to a “strong-buy” rating in a report on Wednesday, September 9th. Stifel Nicolaus upped their target price on shares of Monarch Casino & Resort from $102.00 to $128.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company decreased their price target on shares of Monarch Casino & Resort from $116.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.40.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc operates casino resorts in Nevada and Colorado. The company’s properties combine casino gaming with hotel accommodations, dining, entertainment and other hospitality services.

Its principal properties are Atlantis Casino Resort Spa in Reno, Nevada, and Monarch Casino Resort Spa in Black Hawk, Colorado. The resorts offer gaming facilities, restaurants and bars, hotel rooms and suites, spa services, meeting spaces and entertainment options. The company primarily serves regional visitors and destination guests in the western United States.

Monarch Casino & Resort traces its history to the opening of the Atlantis in Reno in 1972.