Brokerages Anticipate Monarch Casino & Resort, Inc. (MCRI) Will Post Earnings of $0.38 Per Share

Analysts expect Monarch Casino & Resort, Inc. (NASDAQ:MCRI) to announce earnings of $0.38 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Monarch Casino & Resort’s earnings, with the lowest EPS estimate coming in at $0.36 and the highest estimate coming in at $0.39. Monarch Casino & Resort posted earnings of $0.27 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 40.7%. The business is scheduled to report its next earnings results on Tuesday, April 24th.

According to Zacks, analysts expect that Monarch Casino & Resort will report full year earnings of $1.84 per share for the current financial year, with EPS estimates ranging from $1.82 to $1.85. For the next financial year, analysts forecast that the firm will report earnings of $2.17 per share, with EPS estimates ranging from $2.05 to $2.26. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Monarch Casino & Resort.

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Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 firm had revenue of $56.06 million during the quarter, compared to analyst estimates of $57.95 million.

Several equities research analysts have recently commented on MCRI shares. Jefferies Group started coverage on shares of Monarch Casino & Resort in a research note on Thursday, January 18th. They set an “underperform” rating and a $39.00 price objective for the company. Zacks Investment Research downgraded shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Wednesday, March 21st. BidaskClub downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 27th. Finally, ValuEngine upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One 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’s stock. The stock has an average rating of “Hold” and an average target price of $50.80.

In related news, Director Craig F. Sullivan sold 4,883 shares of the firm’s stock in a transaction on Friday, June 8th. The shares were sold at an average price of $31.04, for a total transaction of $151,568.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Farahi sold 14,519 shares of the firm’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $46.27, for a total transaction of $671,794.13. Following the transaction, the chief executive officer now directly owns 1,763,340 shares of the company’s stock, valued at approximately $81,589,741.80. The disclosure for this sale can be found here. Insiders have sold 22,942 shares of company stock valued at $979,687 over the last quarter. Insiders own 27.56% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. First Trust Advisors LP raised its holdings in shares of Monarch Casino & Resort by 14.2% during the fourth quarter. First Trust Advisors LP now owns 10,141 shares of the company’s stock worth $455,000 after purchasing an additional 1,258 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Monarch Casino & Resort by 2.2% during the fourth quarter. Driehaus Capital Management LLC now owns 60,848 shares of the company’s stock worth $2,727,000 after purchasing an additional 1,287 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in shares of Monarch Casino & Resort by 29.7% during the third quarter. Municipal Employees Retirement System of Michigan now owns 6,730 shares of the company’s stock worth $266,000 after purchasing an additional 1,540 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Monarch Casino & Resort by 3.4% during the fourth quarter. Wells Fargo & Company MN now owns 51,425 shares of the company’s stock worth $2,305,000 after purchasing an additional 1,671 shares during the last quarter. Finally, LS Investment Advisors LLC purchased a new position in shares of Monarch Casino & Resort during the fourth quarter worth $100,000. 60.84% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:MCRI traded up $0.09 on Friday, hitting $41.17. 10,776 shares of the company were exchanged, compared to its average volume of 71,344. Monarch Casino & Resort has a 1-year low of $28.47 and a 1-year high of $47.92. The company has a current ratio of 1.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $725.22, a P/E ratio of 27.75 and a beta of 1.24.

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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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