Zacks: Analysts Anticipate Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Will Announce Quarterly Sales of $116.17 Million

Wall Street brokerages predict that Monarch Casino & Resort, Inc. (NASDAQ:MCRIGet Rating) will announce sales of $116.17 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Monarch Casino & Resort’s earnings. The lowest sales estimate is $110.20 million and the highest is $119.30 million. Monarch Casino & Resort posted sales of $97.72 million during the same quarter last year, which suggests a positive year-over-year growth rate of 18.9%. The company is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Monarch Casino & Resort will report full year sales of $463.40 million for the current financial year, with estimates ranging from $451.80 million to $469.20 million. For the next financial year, analysts forecast that the company will report sales of $484.40 million, with estimates ranging from $474.40 million to $489.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Monarch Casino & Resort.

Monarch Casino & Resort (NASDAQ:MCRIGet Rating) last announced its earnings results on Wednesday, April 20th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.01. Monarch Casino & Resort had a net margin of 18.30% and a return on equity of 18.48%.

Several equities research analysts have commented on the company. Jefferies Financial Group lowered Monarch Casino & Resort from a “buy” rating to a “hold” rating and upped their price target for the stock from $85.00 to $90.00 in a research note on Thursday, April 21st. Zacks Investment Research upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research note on Wednesday, April 20th. Truist Financial increased their price target on shares of Monarch Casino & Resort from $88.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 19th. Stifel Nicolaus lowered Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Thursday, April 21st. Finally, StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Monarch Casino & Resort currently has an average rating of “Buy” and a consensus price target of $95.75.

A number of institutional investors and hedge funds have recently bought and sold shares of MCRI. O Shaughnessy Asset Management LLC raised its holdings in shares of Monarch Casino & Resort by 34.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 856 shares of the company’s stock worth $57,000 after purchasing an additional 219 shares in the last quarter. Denali Advisors LLC bought a new stake in Monarch Casino & Resort during the first quarter worth approximately $113,000. Royal Bank of Canada grew its position in Monarch Casino & Resort by 33.6% in the second quarter. Royal Bank of Canada now owns 2,012 shares of the company’s stock worth $133,000 after buying an additional 506 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Monarch Casino & Resort by 27.3% in the first quarter. SG Americas Securities LLC now owns 2,336 shares of the company’s stock valued at $204,000 after buying an additional 501 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Monarch Casino & Resort in the 4th quarter worth $188,000. Hedge funds and other institutional investors own 63.41% of the company’s stock.

Shares of Monarch Casino & Resort stock opened at $70.15 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.60 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.32 billion, a PE ratio of 17.45 and a beta of 1.65. The business’s fifty day moving average is $82.19 and its two-hundred day moving average is $74.08. Monarch Casino & Resort has a fifty-two week low of $56.35 and a fifty-two week high of $94.26.

Monarch Casino & Resort Company Profile (Get Rating)

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. The company also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. As of December 31, 2021, its Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 818 guest rooms and suites; 8 food outlets; 2 gourmet coffee 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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