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What Awaits Monarch Casino & Resort (MCRI) in Q1 Earnings?

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Monarch Casino & Resort, Inc. (MCRI - Free Report) is scheduled to report first-quarter fiscal 2024 results on Apr 17. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 10.6%.

Q1 Estimates

The Zacks Consensus Estimate for earnings is pegged at 98 cents per share, which indicates growth of 8.9% from the prior-year levels. The consensus mark for revenues is pegged at $122.1 million, suggesting an improvement of 4.7% from the year-ago reported figure.

Factors to Note

MCRI is expected to witness positive results in the current quarter due to strong 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 for Casino as well as Food and Beverage revenues is pegged at $71.2 million and $29.8 million, indicating growth of 6.4% and 1.7% from the year-ago levels, respectively. Additionally, the consensus estimate for Hotel revenues is projected to be $16.2 million, implying a 2% increase compared with the previous year.

However, it's worth noting that higher operating expenses may have affected the margin for the quarter under review.

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 0.00% 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.

Hyatt Hotels Corporation (H - Free Report) has an Earnings ESP of +3.79% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Hyatt have soared 42.9% in the past year. H’s earnings surpassed the consensus mark in two of the trailing four quarters and missed twice, the average surprise being 17.8%.

Marriott International, Inc. (MAR - Free Report) has an Earnings ESP of +2.19% and a Zacks Rank #3.

Shares of Marriott have gained 47.9% in the past year. MAR’s earnings surpassed the consensus mark in each of the trailing four quarters, the average surprise being 21.1%.

Boyd Gaming Corporation (BYD - Free Report) has an Earnings ESP of +0.91% and a Zacks Rank #3.

Shares of Boyd Gaming have gained 7.7% in the past six months. BYD’s earnings surpassed the consensus mark in three of the trailing four quarters and missed once, the average surprise being 6.3%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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