Gaming and hospitality company Boyd Gaming (NYSE:BYD) will be reporting results this Thursday after market hours. Here’s what investors should know.
Boyd Gaming beat analysts’ revenue expectations by 15.7% last quarter, reporting revenues of $1.00 billion, up 4.5% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ revenue estimates but a significant miss of analysts’ adjusted operating income estimates.
Is Boyd Gaming a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Boyd Gaming’s revenue to decline 1.9% year on year to $1.02 billion, a reversal from the 9.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.94 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Boyd Gaming has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 5.3% on average.
Looking at Boyd Gaming’s peers in the consumer discretionary segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Apple delivered year-on-year revenue growth of 15.7%, beating analysts’ expectations by 4.1%, and Deckers reported revenues up 7.1%, topping estimates by 4.7%. Apple’s stock price was unchanged after the resultswhile Deckers was up 19.2%.
Read our full analysis of Apple’s results here and Deckers’s results here.
Investors in the consumer discretionary segment have had fairly steady hands going into earnings, with share prices down 1.4% on average over the last month. Boyd Gaming is down 6.1% during the same time and is heading into earnings with an average analyst price target of $94.67 (compared to the current share price of $82.97).
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