Analysts Expect Monarch Casino & Resort, Inc. (MCRI) Will Announce Quarterly Sales of $56.40 Million

Brokerages expect Monarch Casino & Resort, Inc. (NASDAQ:MCRI) to post sales of $56.40 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Monarch Casino & Resort’s earnings. The lowest sales estimate is $54.60 million and the highest is $58.20 million. Monarch Casino & Resort reported sales of $56.06 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.6%. The firm is scheduled to announce its next earnings results on Tuesday, February 19th.

According to Zacks, analysts expect that Monarch Casino & Resort will report full-year sales of $236.90 million for the current year, with estimates ranging from $235.10 million to $238.70 million. For the next year, analysts expect that the company will post sales of $273.70 million, with estimates ranging from $273.00 million to $274.40 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Monarch Casino & Resort.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Wednesday, October 24th. The company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The business had revenue of $64.36 million for the quarter, compared to analysts’ expectations of $65.15 million. Monarch Casino & Resort had a return on equity of 11.79% and a net margin of 13.20%.

Several analysts have weighed in on MCRI shares. BidaskClub raised Monarch Casino & Resort from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 3rd. Zacks Investment Research cut Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Saturday, July 28th. Stifel Nicolaus lifted their price objective on Monarch Casino & Resort from $45.00 to $49.00 and gave the company a “hold” rating in a research report on Wednesday, July 25th. Jefferies Financial Group raised Monarch Casino & Resort from an “underperform” rating to a “hold” rating and set a $48.00 price objective on the stock in a research report on Wednesday, July 25th. Finally, ValuEngine cut Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Saturday, October 27th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Monarch Casino & Resort presently has a consensus rating of “Hold” and a consensus target price of $50.00.

In other Monarch Casino & Resort news, President Bob Farahi bought 8,000 shares of the stock in a transaction dated Friday, September 7th. The stock was purchased at an average cost of $44.84 per share, for a total transaction of $358,720.00. Following the completion of the acquisition, the president now owns 419,408 shares of the company’s stock, valued at $18,806,254.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 26.24% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in MCRI. BlackRock Inc. lifted its holdings in shares of Monarch Casino & Resort by 6.5% during the second quarter. BlackRock Inc. now owns 1,654,865 shares of the company’s stock valued at $72,898,000 after purchasing an additional 101,600 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Monarch Casino & Resort during the third quarter valued at approximately $3,154,000. Brasada Capital Management LP lifted its holdings in shares of Monarch Casino & Resort by 20.1% during the third quarter. Brasada Capital Management LP now owns 103,262 shares of the company’s stock valued at $4,693,000 after purchasing an additional 17,309 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Monarch Casino & Resort by 6.0% during the second quarter. Northern Trust Corp now owns 200,079 shares of the company’s stock valued at $8,815,000 after purchasing an additional 11,408 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Monarch Casino & Resort during the third quarter valued at approximately $468,000. Hedge funds and other institutional investors own 58.77% of the company’s stock.

Monarch Casino & Resort stock opened at $38.92 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. The company has a market cap of $716.10 million, a price-to-earnings ratio of 26.48, a PEG ratio of 1.72 and a beta of 1.29. Monarch Casino & Resort has a fifty-two week low of $37.33 and a fifty-two week high of $49.63.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada. It also owns and operates the Monarch Casino Black Hawk in Black Hawk, Colorado. As of March 5, 2018, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 824 guest rooms; 8 food outlets; 2 espresso and pastry bars; a 30,000 square-foot health spa and salon with an enclosed pool; 2 retail outlets offering clothing and gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention, and meeting room space.

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Earnings History and Estimates for Monarch Casino & Resort (NASDAQ:MCRI)

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