Gaming and hospitality company Boyd Gaming (NYSE: BYD) will be reporting results this Thursday after the bell. Here’s what investors should know.
Boyd Gaming beat analysts’ revenue expectations last quarter, reporting revenues of $1.06 billion, up 2% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ revenue estimates but a 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, the market is expecting Boyd Gaming’s revenue to be flat year on year, slowing from the 3.2% 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 to stay the course heading into earnings. Boyd Gaming has a history of exceeding Wall Street’s expectations.
Looking at Boyd Gaming’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Monarch delivered year-on-year revenue growth of 8.9%, beating analysts’ expectations by 5.2%, and Levi's reported revenues up 14.1%, topping estimates by 5.6%. Levi's traded up 10.7% following the results.
Read our full analysis of Monarch’s results here and Levi’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 11.3% on average over the last month. Boyd Gaming is up 7% during the same time and is heading into earnings with an average analyst price target of $94.73 (compared to the current share price of $87.70).
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