Wall Street analysts expect Monarch Casino & Resort, Inc. (NASDAQ:MCRI) to post $56.40 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Monarch Casino & Resort’s earnings, with the highest sales estimate coming in at $58.20 million and the lowest estimate coming in at $54.60 million. Monarch Casino & Resort posted sales of $56.06 million in the same quarter last year, which suggests a positive year over year growth rate of 0.6%. The firm is scheduled to issue its next earnings report on Tuesday, February 19th.

According to Zacks, analysts expect that Monarch Casino & Resort will report full-year sales of $236.90 million for the current financial year, with estimates ranging from $235.10 million to $238.70 million. For the next year, analysts anticipate that the company will post sales of $273.70 million, with estimates ranging from $273.00 million to $274.40 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Monarch Casino & Resort.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, October 24th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $64.36 million during the quarter, compared to analysts’ expectations of $65.15 million. Monarch Casino & Resort had a return on equity of 11.79% and a net margin of 13.20%.

Several equities analysts have commented on MCRI shares. BidaskClub raised Monarch Casino & Resort from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. ValuEngine lowered Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Saturday, October 27th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $50.00.

Monarch Casino & Resort stock traded up $0.86 during trading hours on Monday, hitting $40.16. The stock had a trading volume of 58,600 shares, compared to its average volume of 59,834. The company has a quick ratio of 0.72, a current ratio of 0.78 and a debt-to-equity ratio of 0.24. The stock has a market cap of $703.24 million, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. Monarch Casino & Resort has a fifty-two week low of $37.05 and a fifty-two week high of $49.63.

In related news, President Bob Farahi acquired 8,000 shares of the stock in a transaction dated Friday, September 7th. The shares were bought at an average cost of $44.84 per share, for a total transaction of $358,720.00. Following the purchase, the president now owns 419,408 shares in the company, valued at approximately $18,806,254.72. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 26.24% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its position in Monarch Casino & Resort by 8.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 57,225 shares of the company’s stock worth $2,521,000 after acquiring an additional 4,219 shares during the last quarter. TD Asset Management Inc. bought a new stake in Monarch Casino & Resort during the 2nd quarter worth approximately $203,000. BlackRock Inc. grew its position in Monarch Casino & Resort by 6.5% during the 2nd quarter. BlackRock Inc. now owns 1,654,865 shares of the company’s stock worth $72,898,000 after acquiring an additional 101,600 shares during the last quarter. Northern Trust Corp grew its position in Monarch Casino & Resort by 6.0% during the 2nd quarter. Northern Trust Corp now owns 200,079 shares of the company’s stock worth $8,815,000 after acquiring an additional 11,408 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Monarch Casino & Resort during the 3rd quarter worth approximately $468,000. Institutional investors own 60.34% of the company’s stock.

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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Earnings History and Estimates for Monarch Casino & Resort (NASDAQ:MCRI)

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