Monarch Casino (MCRI) is a Great Momentum Stock: Should You Buy?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, capitalizing on established price movements [1] Company Overview: Monarch Casino (MCRI) - Monarch Casino currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2] - The company has a Zacks Rank of 1 (Strong Buy), suggesting a favorable outlook compared to the market [3] Performance Metrics - MCRI shares have increased by 21.36% over the past week, while the Zacks Gaming industry has remained flat [5] - Over the past month, MCRI's price change is 22.39%, significantly outperforming the industry's 5.72% [5] - In the last quarter, MCRI shares rose by 36.48%, and over the past year, they gained 52.58%, compared to the S&P 500's increases of 22.7% and 15.9%, respectively [6] Trading Volume - The average 20-day trading volume for MCRI is 150,974 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, three earnings estimates for MCRI have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $5.15 to $5.45 [9] - For the next fiscal year, three estimates have also moved upwards, indicating positive sentiment [9] Conclusion - Given the strong performance metrics and positive earnings outlook, MCRI is positioned as a 1 (Strong Buy) stock with a Momentum Score of A, making it a compelling investment option [11]