Luxury casino and resort operator Monarch (NASDAQ: MCRI) will be announcing earnings results this Monday after market close. Here’s what investors should know.
Monarch beat analysts’ revenue expectations last quarter, reporting revenues of $136.6 million, up 8.9% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Is Monarch a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Monarch’s revenue to grow 4.2% year on year, slowing from the 6.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Monarch rarely misses Wall Street’s revenue estimates.
Looking at Monarch’s peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Delta delivered year-on-year revenue growth of 18.7%, beating analysts’ expectations by 3.9%, and Nike reported a revenue decline of 1.1%, topping estimates by 1.1%. Delta traded down 3.2% following the results while Nike was up 4.9%.
Read our full analysis of Delta’s results here and Nike’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 2.7% on average over the last month. Monarch is down 4.7% during the same time and is heading into earnings with an average analyst price target of $118.17 (compared to the current share price of $123.41).
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