Monarch Casino & Resort (NASDAQ:MCRI) Announces Quarterly Earnings Results
Monarch Casino & Resort (MCRI) reported quarterly earnings of $1.25 per share, missing estimates, and saw trading volume and analyst rating adjustments.Summary
Monarch Casino & Resort (NASDAQ:MCRI) announced its quarterly earnings on Wednesday, reporting $1.25 earnings per share (EPS), which fell short of the consensus estimate of $1.37. The company achieved a return on equity of 19.33% and a net margin of 19.26%, with revenue reaching $140.00 million, slightly exceeding the estimated $139.39 million. MCRI stock experienced a decrease in trading, falling $0.51 to $93.31 with a trading volume of 149,838 shares. Insider activity included CEO John Farahi selling 1,000 shares. Institutional investors have been adjusting their positions, with Qube Research & Technologies Ltd and Arrowstreet Capital Limited Partnership increasing their stakes, while several analysts have updated their ratings, with a consensus rating of “Hold” and an average price target of $99.40. Monarch Casino & Resort operates the Atlantis Casino Resort Spa in Reno, Nevada, offering a range of gaming, hospitality, and entertainment services.
(Source：Markets Daily)