Stock Story -
Gaming and hospitality company Boyd Gaming (NYSE:BYD) will be announcing earnings results tomorrow after the bell. Here's what you need to know.
Boyd Gaming met analysts' revenue expectations last quarter, reporting revenues of $960.5 million, flat year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates and a miss of analysts' Non-Gaming revenue estimates.
Is Boyd Gaming a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Boyd Gaming's revenue to be flat year on year at $909.5 million, slowing from the 2.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.49 per share.
The majority of analysts covering the company have 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 3.1% on average.
Looking at Boyd Gaming's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Red Rock Resorts delivered year-on-year revenue growth of 16.9%, beating analysts' expectations by 2.2%, and Carnival (NYSE:CCL) reported revenues up 17.7%, topping estimates by 1.9%. Carnival traded up 12% following the results.
Read the full analysis of Red Rock Resorts's and Carnival's results on StockStory.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 9.8% on average over the last month. Boyd Gaming is up 11% during the same time and is heading into earnings with an average analyst price target of $69.6 (compared to the current share price of $59.85).
![What To Expect From Boyd Gaming's (BYD) Q2 Earnings](https://d68-invdn-com.investing.com/content/pic52338a366e082e88662e0d85c5b98b2c.jpeg)