$56.75 Million in Sales Expected for Monarch Casino & Resort, Inc. (MCRI) This Quarter

Equities research analysts expect Monarch Casino & Resort, Inc. (NASDAQ:MCRI) to announce $56.75 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Monarch Casino & Resort’s earnings, with the highest sales estimate coming in at $57.00 million and the lowest estimate coming in at $56.50 million. Monarch Casino & Resort reported sales of $53.41 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.3%. The company is scheduled to announce its next earnings report on Tuesday, April 24th.

On average, analysts expect that Monarch Casino & Resort will report full-year sales of $56.75 million for the current fiscal year, with estimates ranging from $240.70 million to $243.10 million. For the next financial year, analysts expect that the company will post sales of $281.93 million per share, with estimates ranging from $270.60 million to $290.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Monarch Casino & Resort.

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Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.10). Monarch Casino & Resort had a net margin of 11.07% and a return on equity of 10.65%. The business had revenue of $56.06 million during the quarter, compared to analyst estimates of $57.95 million.

A number of research firms have issued reports on MCRI. BidaskClub raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Zacks Investment Research cut Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. ValuEngine upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Jefferies Group initiated coverage on Monarch Casino & Resort in a report on Thursday, January 18th. They issued an “underperform” rating and a $39.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $50.80.

MCRI stock opened at $41.13 on Friday. Monarch Casino & Resort has a 52 week low of $28.37 and a 52 week high of $47.92. The company has a quick ratio of 1.08, a current ratio of 1.17 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $752.42, a PE ratio of 28.80 and a beta of 1.20.

Several institutional investors have recently modified their holdings of MCRI. LS Investment Advisors LLC bought a new stake in shares of Monarch Casino & Resort in the fourth quarter valued at about $100,000. SG Americas Securities LLC bought a new stake in shares of Monarch Casino & Resort in the fourth quarter valued at about $136,000. Macquarie Group Ltd. bought a new stake in shares of Monarch Casino & Resort in the third quarter valued at about $171,000. Louisiana State Employees Retirement System bought a new stake in shares of Monarch Casino & Resort in the fourth quarter valued at about $220,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Monarch Casino & Resort by 74.1% in the third quarter. BNP Paribas Arbitrage SA now owns 5,662 shares of the company’s stock valued at $224,000 after purchasing an additional 2,409 shares in the last quarter. Institutional investors own 60.91% of the company’s stock.

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About Monarch Casino & Resort

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s segments include Atlantis and Monarch Casino Black Hawk.

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

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