What Awaits Monarch Casino & Resort (MCRI) in Q3 Earnings?
Monarch Casino & Resort, Inc. MCRI is likely to report a year-over-year increase in earnings while posting third-quarter 2023 results. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 3.4%.
Q3 Estimates
The Zacks Consensus Estimate for earnings is pegged at $1.46 per share, which indicates growth of 3.6% year over year. The consensus mark for revenues is pegged at $135.3 million, suggesting an improvement of 1.2% from the year-ago figure.
Factors to Note
MCRI is expected to see positive results in the quarter under review due to solid 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 predicts rises in casino as well as food and beverage revenues, reaching $79 million and $32 million, respectively. These figures indicate year-over-year growth of 2.6% and 2.2%. Additionally, the consensus estimate for other revenues is pegged at $4.9 million, marking a 3.8% gain compared with the previous year.
However, the consensus estimate for hotel revenues is pegged at $19.83 million, down 4.6% year over year. On the flip side, it's worth noting that higher operating expenses might have affected margins 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. 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 -10.76% and carries a Zacks Rank #3.
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 this season.
Caesars Entertainment, Inc. CZR has an Earnings ESP of +18.11% and a Zacks Rank #2.
Shares of Caesars Entertainment have increased 24.5% in the past year. CZR’s earnings surpassed the consensus mark in each of the trailing four quarters, the average surprise being 74.3%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Marriott International, Inc. MAR has an Earnings ESP of +1.59% and a Zacks Rank #3.
Shares of Marriott have gained 37.8% in the past year. MAR’s earnings surpassed the consensus mark in each of the trailing four quarters, the average surprise being 5.5%.
Boyd Gaming Corporation BYD has an Earnings ESP of +2.50% and a Zacks Rank #3.
Shares of Boyd Gaming have gained 18% in the past year. BYD’s earnings surpassed the consensus mark in each of the trailing four quarters, the average surprise being 12.2%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Marriott International, Inc. (MAR) : Free Stock Analysis Report
Boyd Gaming Corporation (BYD) : Free Stock Analysis Report
Monarch Casino & Resort, Inc. (MCRI) : Free Stock Analysis Report
Caesars Entertainment, Inc. (CZR) : Free Stock Analysis Report
