Casino.org<\/i> reported last month<\/a>, hedge funds have recently been piling into Monarch stock. At the end of the third quarter, 11 hedge funds had bullish positions in the shares, a 38 percent year-over-year increase.<\/p>\nMonarch has a market capitalization of $891.63 million. As such, it’s a small-cap company. That, coupled with its small amount of properties, leads to relatively sparse analyst coverage of the name. Katz is one of five sell-side analysts covering the company. By comparison, 20 analysts follow Las Vegas Sands (NYSE:LVS), the largest US casino operator.<\/p>\n
Speaking Of Analyst Coverage<\/h2>\n
In addition to his upgrade, Katz boosted his price target on Monarch stock to $58 from $46, implying upside of 13 percent from where the shares trade at this writing.<\/p>\n
That price forecast is well above the Wall Street consensus of $47.25, indicating that if Monarch continues soaring, other analysts could join Katz in lifting targets on the stock.<\/p>\n
Monarch is expected to report fourth-quarter results on Feb. 19, with analysts calling for earnings per share of 47 cents on revenue of $61.88 million. For 2020, Wall Street expects the gaming company to earn $2.51 a share on turnover $312.78 million.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Monarch Casino & Resort (NASDAQ:MCRI) stock is higher by more than four percent at this writing. That positions it for one of its biggest intraday gains in at least a year after Jefferies analyst David Katz upgraded the regional gaming company. In a note to clients out Monday, Katz lifted his rating on the operator […]<\/p>\n","protected":false},"author":46,"featured_media":123647,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810],"tags":[],"acf":[],"yoast_head":"\n
Monarch Casino Shares Surge Thanks to Analyst Upgrade<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n