Boyd Gaming (BYD) Outperforms Market Gains: What You Need To Know
In the last trading session, Boyd Gaming (BYD) closed at $ 64.68, marking a move of + 1.22% from the previous day. This move topped the S&P 500 daily gain by 0.62%. Meanwhile, the Dow Jones gained 0.55% and the Nasdaq, an index with a strong technology component, lost 0.03%.
Prior to today, shares of the casino operator had gained 4.51% over the past month, surpassing the 3.13% loss of the consumer discretionary sector and the 0.87% gain of the S&P 500. during this period.
Wall Street will be testing Boyd Gaming for positivity as the date of its next earnings report approaches. The company is expected to post EPS of $ 1.25, up 171.74% from the previous year quarter. Meanwhile, Zacks’ consensus estimate for revenue projects net sales of $ 828.28 million, up 30.26% from the previous year.
For the full year, our Zacks consensus estimates suggest that analysts expect earnings of $ 4.94 per share and revenue of $ 3.32 billion. These totals would mark changes of +3393.33% and + 52.53%, respectively, from a year ago.
Any recent changes in analyst estimates for Boyd Gaming should also be noted by investors. These revisions generally reflect the latest short-term business trends, which can change frequently. With this in mind, we can take positive estimate revisions as a sign of optimism about the company’s business prospects.
Based on our research, we believe these estimate revisions are directly related to stock movements close to the team. To benefit from this, we have developed the Zacks Rank, a proprietary model that takes into account these rating changes and provides an actionable rating system.
Zacks’ ranking system ranges from # 1 (strong buy) to # 5 (strong sell). It has a remarkable track record of externally verified success, with the No.1 stocks generating an average annual return of + 25% since 1988. Zacks Consensus’s EPS estimate fell 0.52% in the month. last. Boyd Gaming currently sports a Zacks rank of # 3 (Hold).
Digging into the valuation, Boyd Gaming currently has a forward P / E ratio of 13.08. For comparison, his industry has an average futures P / E of 18.6, which means Boyd Gaming is trading at a discount to the group.
Meanwhile, BYD’s PEG ratio is currently 0.3. This popular metric is similar to the well-known P / E ratio, except that the PEG ratio also takes into account the expected rate of earnings growth of the company. BYD’s industry had an average PEG ratio of 1.01 at yesterday’s close.
The gaming industry is part of the consumer discretionary sector. This group has a Zacks Industry Rank of 174, which places it in the lowest 32% of all 250+ industries.
The Zacks Industry Rankings assesses the strength of our individual industry groups by measuring the average Zacks rank of individual stocks within groups. Our research shows that the top 50% of industries top the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and more, at Zacks.com.
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