Yahoo Finance Earnings To Watch: Monarch (MCRI) Reports Q2 Results Tomorrow
Luxury casino and resort operator Monarch (NASDAQ:MCRI) will be reporting results tomorrow afternoon. Here's what investors should know.
Monarch met analysts' revenue expectations last quarter, reporting revenues of $121.7 million, up 4.3% year on year. It was a weaker quarter for the company, with a miss of analysts' Hotel revenue and earnings estimates.
Is Monarch a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Monarch's revenue to grow 2.1% year on year to $126.3 million, slowing from the 7.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.12 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Monarch has missed Wall Street's revenue estimates five times over the last two years.
Looking at Monarch's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Carnival delivered year-on-year revenue growth of 17.7%, beating analysts' expectations by 1.9%, and Levi's reported revenues up 7.8%, in line with consensus estimates. Carnival traded up 12% following the results while Levi's was down 15.7%.
Read our full analysis of Carnival's results here and Levi's results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 7.9% on average over the last month. Monarch's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $72.5 (compared to the current share price of $69.07).
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