Monarch Casino & Resort Inc. (MCRI) shares are trading at higher $47.86 and the avg recommendation for the stock is Strong Buy. while the current analyst price target stands at $45.80.
To add more color to this target, the company’s high over the last year is $57.57 and the low is $12.83. Over the last 52 weeks, MCRI is up 6.47% while the S&P 500 is up 19.82%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, MCRI reported a profit of $8.38 million. Monarch Casino & Resort Inc. also saw revenues increase to $15.16 million. In addition, MCRI has free cash flow of -$28.18 million as of 06-2020. The company’s EBITDA came in at -$1.51 million which compares well with its peers.
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MCRI booked profit margins of 6.80%, its Return on Equity (ROE) is 3.90%, and its Return on Assets is 2.20%. All told, it is clear that, MCRI needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. MCRI has a short ratio of 6.61 and outstanding shares of 18.18M.
MCRI has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 62370.0 and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.70. Monarch Casino & Resort Inc. MCRI also noted assets of $597.5 million at the end of the last quarter. Investors should also keep an eye on sector updates as MCRI has historically followed its peers on positive news.
All told, Monarch Casino & Resort Inc. MCRI has strung together solid data and demonstrated underlying fundamentals. At its current valuation, MCRI represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Monarch Casino & Resort Inc. MCRI is now commanding a market cap of 831.81M and a float of 12.53M. MCRI is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of MCRI stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in MCRI, either long or short, and we have not been compensated for this article.