Zacks: Analysts Expect Monarch Casino & Resort, Inc. (MCRI) to Post $0.57 EPS

Wall Street analysts expect Monarch Casino & Resort, Inc. (NASDAQ:MCRI) to report earnings per share (EPS) of $0.57 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Monarch Casino & Resort’s earnings, with estimates ranging from $0.53 to $0.60. Monarch Casino & Resort posted earnings per share of $0.49 in the same quarter last year, which would indicate a positive year over year growth rate of 16.3%. The company is scheduled to report its next earnings results on Tuesday, October 23rd.

On average, 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 financial year, analysts forecast that the firm will report earnings of $2.24 per share, with EPS estimates ranging from $2.21 to $2.26. Zacks Investment Research’s EPS calculations are an 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 data on Wednesday, July 25th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The business had revenue of $59.91 million during the quarter, compared to the consensus estimate of $61.35 million. Monarch Casino & Resort had a net margin of 12.50% and a return on equity of 11.47%.

Several analysts have issued reports on MCRI shares. BidaskClub downgraded shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Saturday, May 12th. Zacks Investment Research downgraded shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Saturday, July 28th. Jefferies Financial Group raised 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. Finally, Stifel Nicolaus raised their price objective on shares of Monarch Casino & Resort from $45.00 to $49.00 and gave the stock a “hold” rating in a research note on Wednesday, July 25th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Monarch Casino & Resort currently has a consensus rating of “Hold” and an average price target of $50.00.

Monarch Casino & Resort traded down $1.06, hitting $45.89, during trading on Tuesday, according to Marketbeat.com. The stock had a trading volume of 69,079 shares, compared to its average volume of 56,620. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.72 and a quick ratio of 0.66. The company has a market cap of $839.68 million, a P/E ratio of 28.28, a PEG ratio of 2.01 and a beta of 1.09. Monarch Casino & Resort has a one year low of $33.58 and a one year high of $49.63.

Several large investors have recently modified their holdings of MCRI. Cutler Group LP increased its position in shares of Monarch Casino & Resort by 609.8% during the second quarter. Cutler Group LP now owns 2,549 shares of the company’s stock worth $112,000 after acquiring an additional 3,049 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Monarch Casino & Resort during the second quarter worth approximately $117,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Monarch Casino & Resort by 80.0% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,528 shares of the company’s stock worth $149,000 after acquiring an additional 1,568 shares during the period. SG Americas Securities LLC purchased a new position in shares of Monarch Casino & Resort during the second quarter worth approximately $182,000. Finally, TD Asset Management Inc. purchased a new position in shares of Monarch Casino & Resort during the second quarter worth approximately $203,000. 60.27% of the stock is currently owned by institutional investors and hedge funds.

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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