Yahoo Finance Boyd Gaming (BYD) Gains As Market Dips: What You Should Know
Boyd Gaming (BYD) closed at $65.39 in the latest trading session, marking a +0.57% move from the prior day. This change outpaced the S&P 500's 0.3% loss on the day. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq gained 0.2%.
Heading into today, shares of the casino operator had gained 14.67% over the past month, outpacing the Consumer Discretionary sector's loss of 1.32% and the S&P 500's gain of 3.11% in that time.
Investors will be hoping for strength from Boyd Gaming as it approaches its next earnings release. The company is expected to report EPS of $1.25, up 171.74% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $828.28 million, up 30.26% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.94 per share and revenue of $3.32 billion, which would represent changes of +3393.33% and +52.53%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Boyd Gaming. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Boyd Gaming is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Boyd Gaming has a Forward P/E ratio of 13.15 right now. Its industry sports an average Forward P/E of 17.96, so we one might conclude that Boyd Gaming is trading at a discount comparatively.
Investors should also note that BYD has a PEG ratio of 0.3 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BYD's industry had an average PEG ratio of 1.05 as of yesterday's close.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 206, which puts it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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