{"id":123645,"date":"2020-01-06T10:45:31","date_gmt":"2020-01-06T18:45:31","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=123645"},"modified":"2020-01-06T11:32:57","modified_gmt":"2020-01-06T19:32:57","slug":"monarch-casino-shares-surge-thanks-to-analyst-upgrade","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/monarch-casino-shares-surge-thanks-to-analyst-upgrade\/","title":{"rendered":"Monarch Casino Stock Enjoys Royal Day as Jefferies Analyst Katz Upgrades Shares"},"content":{"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.<\/p>\n

\"\"
Monarch Casino, owner of the Atlantis in Reno, rallied on an analyst upgrade. (Image: Nevada Independent)<\/figcaption><\/figure>\n

In a note to clients out Monday, Katz lifted his rating on the operator of the Atlantis Casino-Resort in Reno, Nevada to \u201cbuy\u201d from \u201chold.\u201d Katz, one of the most respected travel and leisure analysts on Wall Street, also covers Boyd Gaming (NYSE:BYD) and Penn National Gaming (NASDAQ:PENN) among regional gaming companies<\/a>.<\/p>\n

\n

Assuming Monarch stock can hold a gain of roughly four percent into the close today, the shares would be up about 5.60 percent since the start of 2020, and almost 36 percent over the past year.<\/p>\n<\/div>\n

The stock has rallied about 41 percent off its 52-week low, which it hit in early October. In the latter half of September, sellers punished the regional gaming operator’s shares after the company revealed it’s engaged in a legal tussle<\/a> with PCL Construction Services, Inc., the contractor working on the Black Hawk casino upgrade in Colorado.<\/p>\n

Favored Name<\/h2>\n

Although Monarch operates just two gaming properties \u2013 the aforementioned Atlantis and Black Hawk \u2013 the stock has plenty of supporters.<\/p>\n

Financially solid, well-managed, MCRI is anchored to Reno and Black Hawk Colorado to where tax and lifestyle refugees are fleeing,\u201d said gaming investor Jay Klein in a recent note. \u201cCurrent trade may seem fully valued, but will seem cheap by 3Q20 or before. Don’t discount a merger beyond 2020.\u201d<\/p><\/blockquote>\n

As 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>\n

Monarch 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":"\nMonarch Casino Shares Surge Thanks to Analyst Upgrade<\/title>\n<meta name=\"description\" content=\"Monarch Casino & Resort shares surged Monday after Jefferies upgraded the stock while significantly boosting its price target.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Monarch Casino Shares Surge Thanks to Analyst Upgrade\" \/>\n<meta property=\"og:description\" content=\"Monarch Casino & Resort shares surged Monday after Jefferies upgraded the stock while significantly boosting its price target.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/monarch-casino-shares-surge-thanks-to-analyst-upgrade\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-06T18:45:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-01-06T19:32:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/atlantis.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/monarch-casino-shares-surge-thanks-to-analyst-upgrade\/\",\"url\":\"https:\/\/www.casino.org\/news\/monarch-casino-shares-surge-thanks-to-analyst-upgrade\/\",\"name\":\"Monarch Casino Shares Surge Thanks to Analyst Upgrade\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/monarch-casino-shares-surge-thanks-to-analyst-upgrade\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/monarch-casino-shares-surge-thanks-to-analyst-upgrade\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/atlantis.jpg\",\"datePublished\":\"2020-01-06T18:45:31+00:00\",\"dateModified\":\"2020-01-06T19:32:57+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Monarch Casino & Resort shares surged Monday after Jefferies upgraded the stock while significantly boosting its price target.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/monarch-casino-shares-surge-thanks-to-analyst-upgrade\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/monarch-casino-shares-surge-thanks-to-analyst-upgrade\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/monarch-casino-shares-surge-thanks-to-analyst-upgrade\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/atlantis.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/atlantis.jpg\",\"width\":2000,\"height\":1200,\"caption\":\"Monarch Casino, owner of the Atlantis in Reno, rallied on an analyst upgrade. 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