Monarch Casino & Resort, Inc. (MCRI) Expected to Announce Earnings of $0.57 Per Share

Analysts expect Monarch Casino & Resort, Inc. (NASDAQ:MCRI) to post $0.57 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. 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 reported earnings of $0.49 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.3%. The company is expected to announce its next quarterly 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 fiscal year, analysts anticipate that the business will post earnings of $2.24 per share, with EPS estimates ranging from $2.21 to $2.26. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Monarch Casino & Resort.

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

Several brokerages have recently commented on MCRI. Zacks Investment Research raised 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. BidaskClub raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Stifel Nicolaus increased their price objective on Monarch Casino & Resort from $45.00 to $49.00 and gave the stock a “hold” rating in a research note on Wednesday, July 25th. Finally, Jefferies Financial Group raised 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $50.00.

Shares of Monarch Casino & Resort traded down $1.06, hitting $45.89, on Tuesday, Marketbeat Ratings reports. The company had a trading volume of 69,079 shares, compared to its average volume of 56,620. The company has a market cap of $839.68 million, a PE ratio of 28.28, a price-to-earnings-growth ratio of 2.01 and a beta of 1.09. Monarch Casino & Resort has a 1 year low of $33.58 and a 1 year high of $49.63. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 0.13.

Several institutional 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 valued at $112,000 after acquiring an additional 3,049 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Monarch Casino & Resort during the second quarter valued at 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 valued at $149,000 after acquiring an additional 1,568 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Monarch Casino & Resort during the second quarter valued at approximately $182,000. Finally, TD Asset Management Inc. purchased a new stake in shares of Monarch Casino & Resort during the second quarter valued at approximately $203,000. 60.27% of the stock is owned by hedge funds and other institutional investors.

About Monarch Casino & Resort

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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