Monarch (MCRI) Q4 Earnings Report Preview: What To Look For
Luxury casino and resort operator Monarch (NASDAQ:MCRI) will be reporting earnings tomorrow after market hours. Here's what to look for.
Last quarter Monarch reported revenues of $133 million, down 0.6% year on year, missing analyst expectations by 1.1%. It was a weak quarter for the company, with a miss of analysts' revenue and earnings estimates.
Is Monarch buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Monarch's revenue to decline 1.7% year on year to $118.5 million, a deceleration on the 8.5% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.06 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates four times over the last two years.
Looking at Monarch's peers in the consumer discretionary segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Boyd Gaming delivered top-line growth of 3.4% year on year, beating analyst estimates by 2.7% and Wynn Resorts reported revenues up 83.1% year on year, exceeding estimates by 5.9%. Boyd Gaming traded up 3.8% on the results, Wynn Resorts was up 4.1%.
Read our full analysis of Boyd Gaming's results here and Wynn Resorts's results here.
There has been positive sentiment among investors in the consumer discretionary segment, with the stocks up on average 5.9% over the last month. Monarch is up 5.2% during the same time, and is heading into the earnings with analyst price target of $72.3, compared to share price of $70.26.
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