Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Expected to Post Earnings of $0.62 Per Share

Equities analysts forecast that Monarch Casino & Resort, Inc. (NASDAQ:MCRI) will announce earnings of $0.62 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Monarch Casino & Resort’s earnings. The highest EPS estimate is $0.66 and the lowest is $0.58. Monarch Casino & Resort posted earnings of $0.58 per share in the same quarter last year, which would indicate a positive year over year growth rate of 6.9%. The business is scheduled to report its next quarterly earnings results on Wednesday, October 23rd.

According to Zacks, analysts expect that Monarch Casino & Resort will report full year earnings of $1.95 per share for the current year, with EPS estimates ranging from $1.87 to $2.03. For the next year, analysts expect that the business will report earnings of $2.70 per share, with EPS estimates ranging from $2.67 to $2.72. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Monarch Casino & Resort.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. Monarch Casino & Resort had a return on equity of 11.24% and a net margin of 14.01%. The company had revenue of $62.76 million for the quarter, compared to analysts’ expectations of $61.20 million.

Several brokerages have recently issued reports on MCRI. BidaskClub cut Monarch Casino & Resort from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. ValuEngine upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Monday, July 29th. Finally, Zacks Investment Research upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Friday.

NASDAQ:MCRI traded up $0.05 during trading hours on Thursday, reaching $42.85. 157 shares of the stock were exchanged, compared to its average volume of 33,893. The company has a market capitalization of $772.20 million, a price-to-earnings ratio of 23.43, a PEG ratio of 1.76 and a beta of 0.98. The company has a quick ratio of 0.58, a current ratio of 0.64 and a debt-to-equity ratio of 0.41. Monarch Casino & Resort has a twelve month low of $34.45 and a twelve month high of $48.71. The business has a 50-day moving average of $43.18 and a two-hundred day moving average of $43.97.

In other news, President Bob Farahi sold 24,340 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.08, for a total value of $1,097,247.20. Following the sale, the president now directly owns 380,066 shares in the company, valued at $17,133,375.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 26.64% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in MCRI. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Monarch Casino & Resort by 154.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,156 shares of the company’s stock valued at $48,000 after acquiring an additional 702 shares in the last quarter. Aperio Group LLC acquired a new stake in shares of Monarch Casino & Resort in the second quarter valued at $59,000. KBC Group NV acquired a new stake in shares of Monarch Casino & Resort in the second quarter valued at $65,000. Royal Bank of Canada raised its stake in shares of Monarch Casino & Resort by 61.3% in the second quarter. Royal Bank of Canada now owns 1,634 shares of the company’s stock valued at $69,000 after acquiring an additional 621 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Monarch Casino & Resort by 63.4% in the second quarter. Bank of Montreal Can now owns 2,365 shares of the company’s stock valued at $101,000 after acquiring an additional 918 shares in the last quarter. Institutional investors and hedge funds own 60.40% of the company’s stock.

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 February 20, 2019, 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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