Published on 28 May 2024 on Zacks via Yahoo Finance
Here's Why Investors Should Retain Boyd Gaming (BYD) Stock Now
Boyd Gaming Corporation BYD is benefiting from its focus on expansion initiatives and consideration of Las Vegas’ local market for driving its portfolio accompanied by encouraging online betting prospects.This multi-jurisdictional gaming company showcases a VGM Score of A, backed by a Value Score of A and a Growth Score of B. This positive trend signifies bullish analysts’ sentiments and robust fundamentals in the near term.However, shares of this Zacks Rank #3 (Hold) company have lost 17.3% in the year-to-date period compared with the Zacks Gaming industry’s 6.9% decline. The company’s growth prospects are hindered to a great extent by high-cost scenarios, market softness and competitive pressures in its Las Vegas Locals segment.Furthermore, the earnings estimates for 2024 have inched down in the past seven days to $6.06 from $6.07 per share. The estimated value portrays a 4% decline from the last year’s reported value.
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