Advertisement
Canada markets open in 1 hour 48 minutes
  • S&P/TSX

    22,011.62
    +42.38 (+0.19%)
     
  • S&P 500

    5,116.17
    +16.21 (+0.32%)
     
  • DOW

    38,386.09
    +146.43 (+0.38%)
     
  • CAD/USD

    0.7304
    -0.0018 (-0.24%)
     
  • CRUDE OIL

    82.97
    +0.34 (+0.41%)
     
  • Bitcoin CAD

    86,000.88
    -925.06 (-1.06%)
     
  • CMC Crypto 200

    1,280.96
    -58.11 (-4.34%)
     
  • GOLD FUTURES

    2,324.20
    -33.50 (-1.42%)
     
  • RUSSELL 2000

    2,016.03
    +14.03 (+0.70%)
     
  • 10-Yr Bond

    4.6140
    -0.0550 (-1.18%)
     
  • NASDAQ futures

    17,876.00
    -28.25 (-0.16%)
     
  • VOLATILITY

    14.82
    +0.15 (+1.02%)
     
  • FTSE

    8,194.91
    +47.88 (+0.59%)
     
  • NIKKEI 225

    38,405.66
    +470.90 (+1.24%)
     
  • CAD/EUR

    0.6809
    -0.0015 (-0.22%)
     

What Awaits Monarch Casino & Resort (MCRI) in Q1 Earnings?

Monarch Casino & Resort, Inc. MCRI is scheduled to report first-quarter fiscal 2024 results on Apr 17. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 10.6%.

Q1 Estimates

The Zacks Consensus Estimate for earnings is pegged at 98 cents per share, which indicates growth of 8.9% from the prior-year levels. The consensus mark for revenues is pegged at $122.1 million, suggesting an improvement of 4.7% from the year-ago reported figure.

Factors to Note

MCRI is expected to witness positive results in the current quarter due to strong growth in its Casino as well as Food and Beverage segments. The company is benefiting from continued success of its business at Monarch Black Hawk.

The Zacks Consensus Estimate for Casino as well as Food and Beverage revenues is pegged at $71.2 million and $29.8 million, indicating growth of 6.4% and 1.7% from the year-ago levels, respectively. Additionally, the consensus estimate for Hotel revenues is projected to be $16.2 million, implying a 2% increase compared with the previous year.

However, it's worth noting that higher operating expenses may have affected the margin for the quarter under review.

What the Zacks Model Unveils

Our proven model doesn’t conclusively predict an earnings beat for Monarch Casino & Resort this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.  

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Monarch Casino & Resort has an Earnings ESP of 0.00% and carries a Zacks Rank #3.

Monarch Casino & Resort, Inc. Price and EPS Surprise

Monarch Casino & Resort, Inc. price-eps-surprise | Monarch Casino & Resort, Inc. Quote

Stocks Poised to Beat Earnings Estimates

Here are some stocks you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat.

Hyatt Hotels Corporation H has an Earnings ESP of +3.79% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Hyatt have soared 42.9% in the past year. H’s earnings surpassed the consensus mark in two of the trailing four quarters and missed twice, the average surprise being 17.8%.

Marriott International, Inc. MAR has an Earnings ESP of +2.19% and a Zacks Rank #3.

Shares of Marriott have gained 47.9% in the past year. MAR’s earnings surpassed the consensus mark in each of the trailing four quarters, the average surprise being 21.1%.

Boyd Gaming Corporation BYD has an Earnings ESP of +0.91% and a Zacks Rank #3.

Shares of Boyd Gaming have gained 7.7% in the past six months. BYD’s earnings surpassed the consensus mark in three of the trailing four quarters and missed once, the average surprise being 6.3%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

ADVERTISEMENT

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Marriott International, Inc. (MAR) : Free Stock Analysis Report

Hyatt Hotels Corporation (H) : Free Stock Analysis Report

Boyd Gaming Corporation (BYD) : Free Stock Analysis Report

Monarch Casino & Resort, Inc. (MCRI) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research