In the latest trading session, Boyd Gaming (BYD) closed at $56.18, marking a -0.09% move from the previous day. This move lagged the S&P 500's daily gain of 1.02%.
Heading into today, shares of the casino operator had lost 8.52% over the past month, lagging the Consumer Discretionary sector's loss of 2.13% and the S&P 500's gain of 3.01% in that time.
BYD will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2021. In that report, analysts expect BYD to post earnings of $0.88 per share. This would mark year-over-year growth of 189.8%. Meanwhile, our latest consensus estimate is calling for revenue of $770.27 million, up 267.04% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.34 per share and revenue of $3.04 billion. These totals would mark changes of +2326.67% and +39.68%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for BYD. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 has moved 2.81% higher. BYD currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note BYD's current valuation metrics, including its Forward P/E ratio of 16.82. Its industry sports an average Forward P/E of 25.2, so we one might conclude that BYD is trading at a discount comparatively.
It is also worth noting that BYD currently has a PEG ratio of 0.43. 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. The Gaming was holding an average PEG ratio of 1.3 at yesterday's closing price.
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 110, putting it in the top 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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