BidaskClub Downgrades Monarch Casino & Resort (MCRI) to Sell

Monarch Casino & Resort (NASDAQ:MCRI) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

MCRI has been the subject of a number of other research reports. Citigroup lowered Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. They noted that the move was a valuation call. ValuEngine lowered Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Saturday, February 2nd. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $50.00.

Shares of Monarch Casino & Resort stock opened at $43.34 on Friday. The stock has a market cap of $775.53 million, a PE ratio of 23.68, a PEG ratio of 1.68 and a beta of 1.22. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 0.31. Monarch Casino & Resort has a twelve month low of $34.45 and a twelve month high of $49.63.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Wednesday, February 20th. The company reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.03). The firm had revenue of $59.78 million for the quarter, compared to analysts’ expectations of $56.40 million. Monarch Casino & Resort had a net margin of 14.19% and a return on equity of 11.92%. Analysts anticipate that Monarch Casino & Resort will post 2.08 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Texas Permanent School Fund grew its position in Monarch Casino & Resort by 4.1% in the fourth quarter. Texas Permanent School Fund now owns 7,728 shares of the company’s stock worth $295,000 after acquiring an additional 301 shares in the last quarter. FMR LLC grew its position in Monarch Casino & Resort by 18.5% in the fourth quarter. FMR LLC now owns 2,558 shares of the company’s stock worth $98,000 after acquiring an additional 400 shares in the last quarter. Victory Capital Management Inc. grew its position in Monarch Casino & Resort by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 13,789 shares of the company’s stock worth $526,000 after acquiring an additional 537 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Monarch Casino & Resort by 11.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 6,255 shares of the company’s stock worth $238,000 after acquiring an additional 652 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Monarch Casino & Resort by 6.2% in the fourth quarter. Arizona State Retirement System now owns 18,187 shares of the company’s stock worth $694,000 after acquiring an additional 1,064 shares in the last quarter. Hedge funds and other institutional investors own 61.14% 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 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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