Monarch Casino & Resort (NASDAQ:MCRI) Posts Quarterly Earnings Results, Misses Estimates By $0.12 EPS
Monarch Casino & Resort (MCRI) reported quarterly earnings of $1.25 per share, missing estimates by $0.12, despite revenue slightly exceeding expectations.Summary
Monarch Casino & Resort (NASDAQ:MCRI) announced its quarterly earnings on Wednesday, reporting $1.25 earnings per share, which fell short of the anticipated $1.37 per share. The company achieved a net margin of 19.26% and a return on equity of 19.33%. Revenue for the quarter reached $140.00 million, surpassing the estimated $139.39 million. Trading mid-day on Wednesday, MCRI shares decreased by $0.51 to $93.31, with 149,843 shares exchanged. Recent insider activity includes CEO John Farahi selling 1,000 shares. Hedge fund activity shows increased holdings in MCRI by firms like Osaic Holdings Inc. and Tower Research Capital LLC. Analyst ratings remain mixed, with Jefferies Financial Group reaffirming a “hold” rating and a $112.00 price objective, while Wells Fargo & Company raised its target price to $91.00 with an “equal weight” rating. The average analyst rating is “Hold” with a consensus price target of $99.40. Monarch Casino & Resort operates the Atlantis Casino Resort Spa in Reno, Nevada, offering a range of gaming, hotel, and entertainment services.
(Source：The Lincolnian Online)