Wall Street brokerages predict that Monarch Casino & Resort, Inc. (NASDAQ:MCRI) will report earnings per share (EPS) of $0.28 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Monarch Casino & Resort’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.28. Monarch Casino & Resort posted earnings of $0.50 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 44%. The company is scheduled to report its next earnings report on Wednesday, July 22nd.

On average, analysts expect that Monarch Casino & Resort will report full year earnings of ($0.32) per share for the current fiscal year, with EPS estimates ranging from ($0.75) to ($0.10). For the next financial year, analysts anticipate that the business will post earnings of $2.44 per share, with EPS estimates ranging from $2.25 to $2.77. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Monarch Casino & Resort.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.19). The business had revenue of $51.01 million during the quarter, compared to analysts’ expectations of $53.45 million. Monarch Casino & Resort had a net margin of 11.11% and a return on equity of 9.39%.

Several equities analysts recently issued reports on MCRI shares. Stifel Nicolaus upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their target price for the company from $35.00 to $42.00 in a research note on Monday, April 27th. SunTrust Banks began coverage on shares of Monarch Casino & Resort in a research note on Wednesday, May 27th. They issued a “buy” rating and a $50.00 target price for the company. Zacks Investment Research upgraded shares of Monarch Casino & Resort from a “sell” rating to a “hold” rating in a research report on Tuesday. Union Gaming Research upgraded shares of Monarch Casino & Resort to a “buy” rating and set a $38.00 price objective for the company in a research report on Friday, April 24th. Finally, BidaskClub cut shares of Monarch Casino & Resort from a “hold” rating to a “sell” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $47.20.

Shares of MCRI traded up $0.03 during trading hours on Thursday, hitting $34.08. The stock had a trading volume of 76,147 shares, compared to its average volume of 106,013. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.78 and a current ratio of 0.89. The firm has a 50-day moving average price of $36.55 and a 200 day moving average price of $39.77. Monarch Casino & Resort has a fifty-two week low of $12.83 and a fifty-two week high of $57.57. The firm has a market capitalization of $587.95 million, a price-to-earnings ratio of 23.78 and a beta of 1.49.

In other news, President Bob Farahi sold 16,994 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $40.65, for a total transaction of $690,806.10. Following the completion of the sale, the president now owns 154,423 shares of the company’s stock, valued at $6,277,294.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 26.75% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of Monarch Casino & Resort by 9.4% in the first quarter. JPMorgan Chase & Co. now owns 970,776 shares of the company’s stock valued at $27,250,000 after purchasing an additional 83,341 shares during the period. Wellington Management Group LLP boosted its stake in Monarch Casino & Resort by 30.3% during the first quarter. Wellington Management Group LLP now owns 582,197 shares of the company’s stock worth $16,342,000 after buying an additional 135,285 shares during the period. Janus Henderson Group PLC boosted its stake in Monarch Casino & Resort by 6.3% during the fourth quarter. Janus Henderson Group PLC now owns 527,246 shares of the company’s stock worth $25,598,000 after buying an additional 31,125 shares during the period. State Street Corp boosted its stake in Monarch Casino & Resort by 16.1% during the first quarter. State Street Corp now owns 407,489 shares of the company’s stock worth $11,438,000 after buying an additional 56,557 shares during the period. Finally, Waddell & Reed Financial Inc. purchased a new position in Monarch Casino & Resort during the first quarter worth about $9,337,000. 61.92% of the stock is owned by hedge funds and other institutional investors.

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 February 20, 2019, 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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