Zacks: Brokerages Anticipate Monarch Casino & Resort, Inc. (MCRI) Will Announce Earnings of $0.57 Per Share

Brokerages forecast that Monarch Casino & Resort, Inc. (NASDAQ:MCRI) will report earnings per share of $0.57 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Monarch Casino & Resort’s earnings. The highest EPS estimate is $0.60 and the lowest is $0.53. Monarch Casino & Resort posted earnings per share of $0.49 during the same quarter last year, which suggests a positive year over year growth rate of 16.3%. The business is scheduled to issue its next quarterly earnings results on Tuesday, October 23rd.

According to Zacks, analysts expect that Monarch Casino & Resort will report full year earnings of $1.87 per share for the current year, with EPS estimates ranging from $1.83 to $1.91. For the next fiscal year, analysts forecast that the company will report earnings of $2.24 per share, with EPS estimates ranging from $2.21 to $2.26. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Monarch Casino & Resort.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Wednesday, July 25th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. Monarch Casino & Resort had a net margin of 12.50% and a return on equity of 11.47%. The firm had revenue of $59.91 million during the quarter, compared to analyst estimates of $61.35 million.

Several analysts have recently weighed in on MCRI shares. BidaskClub upgraded shares of Monarch Casino & Resort from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Jefferies Financial Group upgraded shares of Monarch Casino & Resort from an “underperform” rating to a “hold” rating and set a $48.00 price objective for the company in a research note on Wednesday, July 25th. Zacks Investment Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Friday, July 27th. Finally, Stifel Nicolaus lifted their price objective on shares of Monarch Casino & Resort from $45.00 to $49.00 and gave the company a “hold” rating in a research note on Wednesday, July 25th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $50.00.

NASDAQ:MCRI opened at $45.64 on Friday. The firm has a market capitalization of $827.52 million, a PE ratio of 31.05, a P/E/G ratio of 1.98 and a beta of 1.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.72 and a quick ratio of 0.66. Monarch Casino & Resort has a twelve month low of $40.50 and a twelve month high of $49.63.

In related news, President Bob Farahi acquired 8,000 shares of the stock in a transaction dated Friday, September 7th. The stock was bought at an average price of $44.84 per share, for a total transaction of $358,720.00. Following the purchase, the president now directly owns 419,408 shares of the company’s stock, valued at approximately $18,806,254.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 26.24% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MCRI. BlackRock Inc. increased its stake in Monarch Casino & Resort by 6.5% during the 2nd 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 in the last quarter. Lafitte Capital Management LP increased its stake in Monarch Casino & Resort by 9.3% during the 1st quarter. Lafitte Capital Management LP now owns 959,061 shares of the company’s stock valued at $40,559,000 after purchasing an additional 81,786 shares in the last quarter. Northern Trust Corp increased 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 purchasing an additional 11,408 shares in the last quarter. Argent Capital Management LLC increased its stake in Monarch Casino & Resort by 15.4% during the 2nd quarter. Argent Capital Management LLC now owns 64,937 shares of the company’s stock valued at $2,860,000 after purchasing an additional 8,660 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Monarch Casino & Resort by 13.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 53,006 shares of the company’s stock valued at $2,242,000 after purchasing an additional 6,221 shares in the last quarter. Institutional investors and hedge funds own 59.41% 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 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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