Monarch Casino & Resort, Inc. (MCRI) Expected to Post Quarterly Sales of $60.05 Million

Analysts expect that Monarch Casino & Resort, Inc. (NASDAQ:MCRI) will post sales of $60.05 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Monarch Casino & Resort’s earnings, with estimates ranging from $59.60 million to $60.50 million. Monarch Casino & Resort reported sales of $57.11 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.1%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, October 24th.

On average, analysts expect that Monarch Casino & Resort will report full-year sales of $60.05 million for the current year, with estimates ranging from $229.10 million to $231.00 million. For the next fiscal year, analysts forecast that the company will post sales of $238.87 million per share, with estimates ranging from $235.90 million to $242.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Monarch Casino & Resort.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Tuesday, July 25th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03. The firm had revenue of $58.23 million for the quarter, compared to the consensus estimate of $58.00 million. Monarch Casino & Resort had a return on equity of 11.16% and a net margin of 11.77%.

MCRI has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub lowered shares of Monarch Casino & Resort from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. ValuEngine lowered shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Stifel Nicolaus restated a “hold” rating and issued a $33.00 price objective on shares of Monarch Casino & Resort in a research note on Friday, July 28th. Finally, Imperial Capital lifted their price objective on shares of Monarch Casino & Resort from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $53.25.

Shares of Monarch Casino & Resort (NASDAQ MCRI) traded down 0.51% during midday trading on Monday, reaching $41.33. The company’s stock had a trading volume of 55,860 shares. The company has a 50 day moving average of $37.78 and a 200-day moving average of $32.78. Monarch Casino & Resort has a 52 week low of $21.13 and a 52 week high of $41.83. The stock has a market capitalization of $726.09 million, a price-to-earnings ratio of 27.98 and a beta of 1.04.

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In other Monarch Casino & Resort news, President Bob Farahi sold 34,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $34.43, for a total transaction of $1,170,620.00. Following the transaction, the president now directly owns 482,516 shares in the company, valued at $16,613,025.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 27.56% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of MCRI. Park West Asset Management LLC grew its position in Monarch Casino & Resort by 101.2% during the first quarter. Park West Asset Management LLC now owns 905,248 shares of the company’s stock worth $26,741,000 after buying an additional 455,248 shares during the period. Lafitte Capital Management LP lifted its holdings in shares of Monarch Casino & Resort by 14.4% in the first quarter. Lafitte Capital Management LP now owns 793,008 shares of the company’s stock valued at $23,425,000 after purchasing an additional 99,839 shares in the last quarter. Uniplan Investment Counsel Inc. lifted its holdings in shares of Monarch Casino & Resort by 40.3% in the second quarter. Uniplan Investment Counsel Inc. now owns 319,068 shares of the company’s stock valued at $9,651,000 after purchasing an additional 91,659 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Monarch Casino & Resort by 10.4% in the first quarter. Vanguard Group Inc. now owns 580,692 shares of the company’s stock valued at $17,153,000 after purchasing an additional 54,762 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new stake in shares of Monarch Casino & Resort in the second quarter valued at about $1,500,000. Institutional investors own 58.43% of the company’s stock.

Monarch Casino & Resort Company Profile

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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