Latest news with #Monarch
Yahoo
7 hours ago
- General
- Yahoo
Homelessness up again in New Jersey, as federal cuts loom
A homeless encampment sits in the woods off the canal path along the Delaware River. (Dana DiFilippo | New Jersey Monitor) Homelessness in New Jersey surged 8% since last year, new figures show, a jump that comes as federal cuts threaten food and housing assistance and other Medicaid benefits for thousands of residents. Affordable housing advocates identified 13,748 people who were living in shelters, hotels, or on the street Jan. 28 during the 'Point in Time' count, an annual enumeration done every January of the state's homeless population. That's about 1,068 people more than advocates counted last year, and the highest number recorded since 2014, when the state's homeless population stood at 13,900, according to Monarch Housing Associates, the nonprofit that coordinates the count. Most — 11,753 people — were living in shelters, hotels or motels, transitional housing, or safe haven programs, Monarch reported. But advocates also counted almost 2,000 people living outside, in vacant or abandoned buildings, or in other locations not meant for human habitation, with such unsheltered homelessness more than doubling in New Jersey since 2022. Sixteen percent of those counted were considered chronically homeless. Federal cuts to critical safety nets will only make things worse, with cuts implemented in a recently passed spending bill and proposed for the next federal budget threatening to 'destroy the very infrastructure we rely on to support our most vulnerable neighbors,' said Taiisa Kelly, Monarch's CEO. 'This is happening at a time when we are seeing increasing affordability issues, increases in unsheltered homelessness, and more communities criminalizing homelessness,' Kelly said. She called on policymakers to invest in solutions proven to reduce homelessness, including housing assistance strategies known as rapid rehousing and housing first, which place people in permanent housing and typically come with support services like financial assistance and landlord mediation. Homelessness has steadily risen in New Jersey since 2021, with an average increase of 14% annually, said Katelyn Ravensbergen, a senior associate at Monarch. 'While our systems are working to connect everyone they can with stable housing, the number of households entering homelessness is unfortunately increasing at a rate that outpaces the expansion of housing opportunities and other supports,' Ravensbergen said. 'This issue will be further exacerbated if federal programs historically used to rapidly rehouse these families are reduced or eliminated as proposed.' Under the federal budget bill President Donald Trump signed July 4, about 350,000 residents are expected to lose Medicaid coverage and 424,000 families likely will see some or all of their monthly Supplemental Nutritional Assistance Program benefits end, advocates said. Congress members are now developing budgets for federal agencies for the coming fiscal year, which begins Oct. 1. Funding for housing and homeless service programs is expected to shrink, with some programs targeted for elimination altogether. That includes the Home Investment Partnerships Program, which funds the development of affordable housing. New Jersey and its counties and municipalities received $34.7 million in funding from that program last year, according to Monarch. This year's count also showed several demographic disparities persist: Families with at least one child accounted for about a third of those experiencing homelessness. Veterans continue to struggle with homelessness, with 543 veterans counted, representing a 4.8% increase since last year. Black people continue to experience homelessness at disproportionately higher rates than people of other racial or ethnic identities, comprising 47.4% of the homeless population, even though just 12% of New Jersey residents are Black. Essex County had the largest homeless population statewide. Advocates chalked the increase in unsheltered homelessness up to the overburdened shelter system. In recent months, shelters have operated at more than 90% of their capacity every day, and they cannot accommodate rising homelessness, advocates say. The latest count reveals the human toll of the worsening housing affordability crisis, said Michael Callahan, director of the state homelessness prevention office. 'The data confirms what our communities have long known: homelessness is being driven not just by poverty, but by deep structural inequities, including systemic racism and the dramatic shortage of affordable homes,' Callahan said. 'It is a call to action for bolder, better-targeted investment in prevention, housing, and justice.' SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX Solve the daily Crossword
Mint
a day ago
- Business
- Mint
Monarch Surveyors shares make stellar debut; list at ₹421.25 on BSE SME, up 68.5% from IPO price
Monarch Surveyors IPO listing: Shares of Monarch Surveyors made a stellar debut on the bourses on Tuesday, July 29, listing at ₹ 421.25 on the BSE SME, a premium of 68.5 per cent over their IPO price of ₹ 250. The SME initial public offering (IPO), with a total issue size of ₹ 93.75 crore, was open for bidding from July 22 to July 24. The offering received an exceptional response from investors and was subscribed 250.65 times during the three-day bidding process. The IPO attracted bids for 62.20 crore shares compared to the 24.81 lakh shares on offer. The retail investor portion was booked 263 times, while the non-institutional investor (NII) segment witnessed 317.05 times subscription. Meanwhile, the qualified institutional buyer (QIB) category was booked 179 times. Monarch Surveyors IPO was entirely a fresh issue of 37.50 lakh shares with no offer-for-sale. It was priced in the range of ₹ 237-250. The IPO of Monarch Surveyors & Engineering Consultants has set the lot size at 600 shares, with the minimum investment for retail investors pegged at ₹ 2.84 lakh at the lower end of the price band. This corresponds to two lots or 1,200 shares. The company intends to deploy the net proceeds from the IPO towards several key initiatives, including capital expenditure for machinery purchases, working capital requirements, and general corporate purposes aimed at supporting its expansion and operational needs. Ahead of the public offering, Monarch Surveyors successfully secured ₹ 26.54 crore from anchor investors on July 21, demonstrating strong institutional interest in the issue. The IPO was being managed by Beeline Capital Advisors Pvt Ltd, serving as the book-running lead manager, while Bigshare Services Pvt Ltd acts as the registrar. The market maker for the issue was Spread X Securities Private Limited. Established in 1992, Monarch Surveyors & Engineering Consultants Limited is a seasoned civil engineering consultancy firm known for delivering end-to-end solutions across India's infrastructure sector. The company's core offerings span a wide range of services, including topographic surveys, geotechnical investigations, project management consultancy, engineering design, land acquisition assistance, GIS mapping, and feasibility studies. Monarch's expertise lies in its ability to manage large-scale infrastructure projects with precision and efficiency. Over the years, Monarch has built a strong track record by successfully executing projects across key sectors such as railways, roads, ports, and oil & gas. Its consultancy services encompass every critical phase of infrastructure development—right from detailed surveying and design to technical supervision and land acquisition support.
Yahoo
2 days ago
- Business
- Yahoo
Red Rock Resorts (RRR) Reports Q2: Everything You Need To Know Ahead Of Earnings
Casino resort and entertainment company Red Rock Resorts (NASDAQ:RRR) will be announcing earnings results this Tuesday after the bell. Here's what investors should know. Red Rock Resorts beat analysts' revenue expectations by 0.6% last quarter, reporting revenues of $497.9 million, up 1.8% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts' EPS estimates but a miss of analysts' Casino revenue estimates. Is Red Rock Resorts a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Red Rock Resorts's revenue to be flat year on year at $485.4 million, slowing from the 16.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.41 per share. Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 4 downward revisions over the last 30 days (we track 10 analysts). Red Rock Resorts has missed Wall Street's revenue estimates three times over the last two years. Looking at Red Rock Resorts's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Monarch delivered year-on-year revenue growth of 6.8%, beating analysts' expectations by 5.4%, and Boyd Gaming reported revenues up 6.9%, topping estimates by 5.4%. Monarch traded up 20.4% following the results while Boyd Gaming was also up 4.1%. Read our full analysis of Monarch's results here and Boyd Gaming's results here. There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 10.3% on average over the last month. Red Rock Resorts is up 8.9% during the same time and is heading into earnings with an average analyst price target of $57.77 (compared to the current share price of $56.64). Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
7 days ago
- Business
- Business Standard
Monarch Surveyors IPO booked 37x; GMP up 68%; check who is driving demand
Monarch Surveyors IPO comprises an entirely fresh issue of 3.75 million equity shares estimated to be worth ₹93.75 crore. The public offering is available at a price band of ₹237-250 per share. SI Reporter New Delhi Monarch Surveyors IPO Day 2 subscription status: Retail investors were leading the demand for the initial public offering of Monarch Surveyors & Engineering Consultants (Monarch Surveyors IPO) on the second day of its subscription period. The demand for the public issue was also strong among the institutional investors, as the public issue has been oversubscribed by 37.20 times till around 1:20 PM on Wednesday, July 23, 2025. The BSE data shows that the retail investors have placed the highest bids by oversubscribing the category reserved for them by 58.75 times, followed by non-institutional investors (NIIs) at 34.46 times and qualified institutional buyers (QIBs) at 2.27 times. Monarch Surveyors IPO details Monarch Surveyors IPO comprises an entirely fresh issue of 3.75 million equity shares estimated to be worth ₹93.75 crore. The public offering is available at a price band of ₹237–250 per share, and a lot size of 600 shares. The investors can bid for a minimum of 1,200 shares and in multiples of 600 shares thereafter, and would require a minimum of ₹3,00,000 to bid for 2 lots or 1,200 shares of Monarch Surveyors IPO. The company intends to use the net proceeds from the public issue for funding the capital expenditure requirement for purchase of machinery, as well as for funding working capital requirements of the company. The company will further use the proceeds for general corporate purposes. Monarch Surveyors IPO grey market premium (GMP) The unlisted shares of the company continued to trade at a solid premium in the grey markets on Wednesday. Monarch Surveyors shares were trading at around ₹420 per share, reflecting a grey market premium (GMP) of ₹170 or 68 per cent over the upper end of the issue price, according to sources tracking unofficial market activities. Monarch Surveyors IPO allotment date, listing date The three-day subscription window to bid for the Monarch Surveyors IPO is set to conclude on July 24, 2025. Following the closure of the subscription window, the basis of allotment of Monarch Surveyors is set to take place on July 25. The company's shares will be credited into demat accounts tentatively by July 28. About Monarch Surveyors Founded in 1999, Monarch Surveyors & Engineering Consultants offer end-to-end infrastructure consultancy services. The company operates in sectors such as transportation, urban planning, environment, and water. Monarch offers services including high-precision engineering surveys, feasibility studies, and project management. The company has worked with Indian government institutions, road authorities, and private entities. Monarch also has a presence in Sri Lanka and Bhutan, delivering data-driven engineering solutions. The company's services span the entire lifecycle of infrastructure projects, from concept to commissioning. Monarch's expertise includes surveying, design services, and technical supervision for various civil engineering sectors.
Yahoo
21-07-2025
- Business
- Yahoo
3 Russell 2000 Stocks That Fall Short
The Russell 2000 (^RUT) is packed with potential breakout stocks, thanks to its focus on smaller companies with high growth potential. However, smaller size also means these businesses often lack the resilience and financial flexibility of large-cap firms, making careful selection crucial. Picking the right small caps isn't easy, and that's exactly why StockStory exists - to help you focus on the best opportunities. That said, here are three Russell 2000 stocks to steer clear of and some alternatives to watch instead. Power Integrations (POWI) Market Cap: $3.05 billion A leading supplier of parts for electronics such as home appliances, Power Integrations (NASDAQ:POWI) is a semiconductor designer and developer specializing in products used for high-voltage power conversion. Why Do We Avoid POWI? Flat sales over the last five years suggest it must find different ways to grow during this cycle Expenses have increased as a percentage of revenue over the last five years as its operating margin fell by 11.7 percentage points Earnings per share have dipped by 3.1% annually over the past five years, which is concerning because stock prices follow EPS over the long term Power Integrations's stock price of $54.25 implies a valuation ratio of 31.5x forward P/E. To fully understand why you should be careful with POWI, check out our full research report (it's free). Monarch (MCRI) Market Cap: $1.92 billion Established in 1993, Monarch (NASDAQ:MCRI) operates luxury casinos and resorts, offering high-end gaming, dining, and hospitality experiences. Why Does MCRI Give Us Pause? Annual revenue growth of 4% over the last two years was below our standards for the consumer discretionary sector Demand will likely be soft over the next 12 months as Wall Street's estimates imply tepid growth of 4.4% Monarch is trading at $104.50 per share, or 21x forward P/E. Dive into our free research report to see why there are better opportunities than MCRI. HNI (HNI) Market Cap: $2.37 billion With roots dating back to 1944 and a significant acquisition of Kimball International in 2023, HNI (NYSE:HNI) manufactures and sells office furniture systems, seating, and storage solutions, as well as residential fireplaces and heating products. Why Is HNI Not Exciting? Muted 2.7% annual revenue growth over the last five years shows its demand lagged behind its business services peers Performance over the past five years shows its incremental sales were less profitable as its earnings per share were flat Capital intensity has ramped up over the last five years as its free cash flow margin decreased by 3.2 percentage points At $50.98 per share, HNI trades at 14.4x forward P/E. If you're considering HNI for your portfolio, see our FREE research report to learn more. High-Quality Stocks for All Market Conditions When Trump unveiled his aggressive tariff plan in April 2024, markets tanked as investors feared a full-blown trade war. But those who panicked and sold missed the subsequent rebound that's already erased most losses. Don't let fear keep you from great opportunities and take a look at Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today for free. Find your next big winner with StockStory today. Find your next big winner with StockStory today StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
