$56.40 Million in Sales Expected for Monarch Casino & Resort, Inc. (MCRI) This Quarter

Brokerages expect Monarch Casino & Resort, Inc. (NASDAQ:MCRI) to announce sales of $56.40 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Monarch Casino & Resort’s earnings, with the lowest sales estimate coming in at $54.60 million and the highest estimate coming in at $58.20 million. Monarch Casino & Resort reported sales of $56.06 million in the same quarter last year, which indicates a positive year-over-year growth rate of 0.6%. The company is expected to issue its next quarterly 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 financial year, with estimates ranging from $235.10 million to $238.70 million. For the next financial year, analysts anticipate that the company will post sales of $273.70 million, with estimates ranging from $273.00 million to $274.40 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for Monarch Casino & Resort.

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

A number of equities analysts recently issued reports on MCRI shares. ValuEngine upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Tuesday, December 18th. BidaskClub upgraded shares of Monarch Casino & Resort from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Monarch Casino & Resort currently has an average rating of “Hold” and a consensus price target of $50.00.

Monarch Casino & Resort stock traded up $0.86 during mid-day trading on Thursday, reaching $37.55. The stock had a trading volume of 59,771 shares, compared to its average volume of 53,174. The stock has a market cap of $671.92 million, a price-to-earnings ratio of 25.54, a PEG ratio of 1.62 and a beta of 1.28. Monarch Casino & Resort has a one year low of $34.45 and a one year high of $49.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.78 and a quick ratio of 0.72.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Monarch Casino & Resort by 3.0% during the 3rd quarter. BlackRock Inc. now owns 1,705,125 shares of the company’s stock valued at $77,498,000 after acquiring an additional 50,260 shares during the period. Vanguard Group Inc. lifted its stake in Monarch Casino & Resort by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 697,819 shares of the company’s stock valued at $31,716,000 after acquiring an additional 35,341 shares during the period. Vanguard Group Inc lifted its stake in Monarch Casino & Resort by 5.3% during the 3rd quarter. Vanguard Group Inc now owns 697,819 shares of the company’s stock valued at $31,716,000 after acquiring an additional 35,341 shares during the period. Renaissance Technologies LLC lifted its stake in Monarch Casino & Resort by 1.5% during the 3rd quarter. Renaissance Technologies LLC now owns 209,300 shares of the company’s stock valued at $9,513,000 after acquiring an additional 3,000 shares during the period. Finally, Northern Trust Corp lifted its stake in Monarch Casino & Resort by 6.0% during the 2nd quarter. Northern Trust Corp now owns 200,079 shares of the company’s stock valued at $8,815,000 after acquiring an additional 11,408 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

About Monarch Casino & Resort

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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