Zacks: Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Average Rating of “Buy” from Brokerages

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has received an average broker rating score of 2.33 (Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.

Brokerages have set a 12 month consensus target price of $25.00 for the company and are anticipating that the company will post $0.23 earnings per share for the current quarter, according to Zacks. Zacks has also given Monarch Casino & Resort an industry rank of 37 out of 265 based on the ratings given to related companies.

A number of equities analysts have recently commented on MCRI shares. Sidoti started coverage on Monarch Casino & Resort in a research note on Tuesday, December 8th. They issued a “buy” rating on the stock. Zacks Investment Research upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Friday, October 23rd.

Shares of Monarch Casino & Resort (NASDAQ:MCRI) opened at 22.72 on Monday. The company has a market cap of $385.81 million and a P/E ratio of 20.27. The company has a 50 day moving average price of $22.38 and a 200 day moving average price of $20.11. Monarch Casino & Resort has a one year low of $15.59 and a one year high of $23.54.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.10. Equities research analysts expect that Monarch Casino & Resort will post $1.10 earnings per share for the current year.

12 Month Chart for NASDAQ:MCRI

Monarch Casino & Resort, Inc. (NASDAQ:MCRI), through its wholly owned subsidiaries, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada (the Atlantis); the Monarch Casino Black Hawk in Black Hawk, Colorado (the Monarch Casino Black Hawk), and real estate proximate to the Atlantis and Monarch Casino Black Hawk. The Atlantis is located approximately three miles south of downtown in the area of Reno, Nevada. The Monarch Casino Black Hawk is located approximately 40 miles west of Denver, Colorado. The Company’s wholly owned subsidiaries include Golden Road Motor Inn, Inc. (Golden Road), Monarch Growth Inc. (Monarch Growth), Monarch Black Hawk, Inc. (Monarch Black Hawk), High Desert Sunshine, Inc. (High Desert), Golden East, Inc. (Golden East) and Golden North, Inc.

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