Monarch Casino & Resort

MCRI · NASDAQ

$114.25+$0.66 (+0.58%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $113.59

MCRI analyst rating

HoldConsensus of 4 analysts over the last 12 months. 25% rate it a buy.

Strong buy0
Buy1
Hold3
Underperform0
Sell0

12-month price target · 9 analysts

Average $132.45 (+15.9% upside)

Low: $115.14
Now: $114.25
High: $154.35

Upgrades and downgrades

The latest rating actions, newest first

MCRI analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Macquarie	Oct 7, 2026	Maintains	Neutral	$128.00 → $125.00	40%
Macquarie	Aug 17, 2026	Maintains	Neutral	$125.00 → $128.00	40%
Wells Fargo	Jul 21, 2026	Maintains	Equal-Weight	$116.00 → $114.00	18%
Stifel	Jul 21, 2026	Maintains	Hold	$102.00 → $128.00	23%
Truist Securities	Jul 20, 2026	Maintains	Buy	$125.00 → $144.00	39%
Wells Fargo	Jul 14, 2026	Maintains	Equal-Weight	$99.00 → $116.00	18%
Macquarie	May 19, 2026	Maintains	Neutral	$120.00 → $122.00	40%
Macquarie	Apr 22, 2026	Maintains	Neutral	$108.00 → $120.00	40%
Wells Fargo	Apr 22, 2026	Maintains	Equal-Weight	$97.00 → $99.00	18%
Stifel	Apr 22, 2026	Maintains	Hold	$97.00 → $102.00	23%

The case for and against

Updated Oct 7, 2026

Bull case

Monarch Casino & Resort is well positioned by its high-quality Atlantis and Black Hawk assets, both of which are still benefiting from share gains, strong visitation, and renovated room demand that helped drive Q1 net revenue of $136.6M and Adj. EBITDA of $49.0M, well ahead of expectations. Its fundamentals also look resilient because casino, food & beverage, and hotel revenue all grew, while operating leverage and cost controls lifted consolidated Adj. EBITDA margins to 35.8% in Q1 and supported another solid 2Q26 result with $142.6M of net revenue and $53.0M of Adj. EBITDA. The balance sheet and capital return story further strengthen the outlook, with $120M of cash, no borrowings against its credit facility, continued buybacks, and management retaining M&A flexibility to pursue disciplined, value-creating opportunities.

Bear case

Monarch Casino & Resort is facing a weaker fundamental backdrop as consumer spending remains uncertain, promotional activity in Reno has intensified, and new California tribal competition could siphon drive-to visitation. Its two core markets are also exposed to potential new supply, a gaming tax hike, sticky wage inflation, and weather-related disruptions in both Reno and Black Hawk, which could pressure margins and operating consistency. Even though the stock is trading near the low end of its historical multiple range and roughly in line with peers, that valuation support looks insufficient given the elevated macro and market-specific risks.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.