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Monarch Casino & Resort, Inc. MCRI is scheduled to report third-quarter fiscal 2024 results on Oct 23. In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate by 7.2%.
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Q3 Estimates for MCRI
The Zacks Consensus Estimate for earnings is pegged at $1.37 per share, which indicates a decline of 0.7% from the prior-year level. The consensus mark for revenues is pegged at $134.5 million, suggesting an improvement of 1.2% from the year-ago reported figure.
Factors to Note
MCRI is expected to witness top-line improvement in the current quarter due to strong growth in its Casino segment. The company has been benefiting from the continued success of its business at Monarch Black Hawk. Its Monarch Black Hawk property has continued to attract mid and upper-tier players from the greater Denver market.
The Zacks Consensus Estimate for Casino revenues is pegged at $76 million, up 2.7% year over year. The consensus estimate for Food and Beverage, Hotel and Other revenues is pegged at $32.83 million, $19.87 million and $5.43 million, respectively, down 0.4%, 3.6% and 2.5% year over year.
However, it's worth noting that higher operating expenses might have affected the margin for the quarter under review.
Monarch Casino & Resort, Inc. Price and EPS Surprise
Monarch Casino & Resort, Inc. price-eps-surprise | Monarch Casino & Resort, Inc. Quote
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. This is not the case here.
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 a Zacks Rank #3.
Stocks Poised to Beat Earnings Estimates
Here are some other stocks you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat.
AMC Entertainment Holdings, Inc. AMC has an Earnings ESP of +84.00% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
AMC is expected to register a 33.3% increase year over year in earnings for the to-be-reported quarter. It reported better-than-expected earnings in two of the trailing four quarters and missed twice, the average negative surprise being 69.5%.
Boyd Gaming Corporation BYD currently has an Earnings ESP of +17.79% and a Zacks Rank of 2.
BYD’s earnings for the to-be-reported quarter are expected to increase 3.7% year over year. It reported better-than-expected earnings in two of the trailing four quarters and missed twice, the average surprise being 3.6%.
Marriott International, Inc. MAR currently has an Earnings ESP of +1.57% and a Zacks Rank of 3.
MAR’s earnings for the to-be-reported quarter are expected to increase 9.5% year over year. It reported better-than-expected earnings in three of the trailing four quarters and missed once, the average surprise being 16.9%.