What To Expect From Monarch’s (MCRI) Q1 Earnings
Stock Story
Published Apr 16, 2024 03:00
Updated Apr 16, 2024 11:46
What To Expect From Monarch’s (MCRI) Q1 Earnings
Stock Story -
Luxury casino and resort operator Monarch (NASDAQ:MCRI) will be reporting results tomorrow after the bell. Here's what investors should know.
Last quarter Monarch reported revenues of $128.2 million, up 6.3% year on year, beating analyst revenue expectations by 8.2%. It was a mixed quarter for the company, with an impressive beat of analysts' revenue estimates but a miss of analysts' earnings estimates.
Is Monarch buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Monarch's revenue to grow 4.9% year on year to $122.3 million, slowing down from the 7.7% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.96 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 Q1 earnings results, giving us a hint of what we can expect. Nike (NYSE:NKE) delivered top-line growth of 0.3% year on year, beating analyst estimates by 1.1% and Carnival (NYSE:CCL) reported revenues up 22% year on year, exceeding estimates by 0%. Nike traded up 3% on the results, and Carnival was flat on the results.
Read the full analysis of Nike's and Carnival's results on StockStory.
There has been a stampede out of high valuation technology stocks and while some of the consumer discretionary stocks have fared somewhat better, they have not been spared, with share price declining 3.4% over the last month. Monarch is up 0.1% during the same time, and is heading into the earnings with analyst price target of $72.5, compared to share price of $70.55.
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Written By: Stock Story
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