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Likely Coronavirus Impact on Boyd Gaming (BYD) Q1 Earnings
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Boyd Gaming Corporation (BYD - Free Report) is scheduled to report first-quarter 2019 results on Apr 28. In the last reported quarter, the company’s bottom line surpassed the Zacks Consensus Estimate by 6.4%.
Q1 Expectations
The Zacks Consensus Estimate for first-quarter earnings is pegged at 28 cents, suggesting a decline from 43 cents reported in the year-ago quarter. Over the past 30 days, the company’s earnings estimates have witnessed sharp downward revisions. The consensus estimates for revenues stands at $774.2 million, indicating a decline of 6.4% from the prior-year quarter.
Let's take a look at how things have shaped up in the quarter.
Owing to the coronavirus pandemic, the company has temporarily closed its operations in mid-March. This along with increased costs in food, beverage, gaming and lodging offerings is likely to have affected the company’s performance in the first quarter.
However, efforts to expand portfolio and expand online offerings are likely to get reflected in the company’s results for the quarter. During the third quarter of 2019, the company had partnered with FanDuel Group to open sportsbooks at Blue Chip, Belterra Resort, Diamond Jo Dubuque and Diamond Jo Worth properties in the Midwest. This is likely to have aided the company’s performance as well.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Boyd Gaming this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. This is not the case here, as you will see below.
Earnings ESP: Boyd Gaming has an Earnings ESP of -112.09%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are some stocks from the Zacks Consumer Discretionary space that investors may consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:
BJ's Wholesale Club Holdings, Inc. (BJ - Free Report) has a Zacks Rank #2 and an Earnings ESP of +17.39%.
Mattel, Inc. (MAT - Free Report) has a Zacks Rank #2 and an Earnings ESP of +1.66%.
Churchill Downs Incorporated (CHDN - Free Report) has a Zacks Rank #3 and an Earnings ESP of +112.9%.
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Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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Likely Coronavirus Impact on Boyd Gaming (BYD) Q1 Earnings
Boyd Gaming Corporation (BYD - Free Report) is scheduled to report first-quarter 2019 results on Apr 28. In the last reported quarter, the company’s bottom line surpassed the Zacks Consensus Estimate by 6.4%.
Q1 Expectations
The Zacks Consensus Estimate for first-quarter earnings is pegged at 28 cents, suggesting a decline from 43 cents reported in the year-ago quarter. Over the past 30 days, the company’s earnings estimates have witnessed sharp downward revisions. The consensus estimates for revenues stands at $774.2 million, indicating a decline of 6.4% from the prior-year quarter.
Let's take a look at how things have shaped up in the quarter.
Boyd Gaming Corporation Price and EPS Surprise
Boyd Gaming Corporation price-eps-surprise | Boyd Gaming Corporation Quote
Factors at Play
Owing to the coronavirus pandemic, the company has temporarily closed its operations in mid-March. This along with increased costs in food, beverage, gaming and lodging offerings is likely to have affected the company’s performance in the first quarter.
However, efforts to expand portfolio and expand online offerings are likely to get reflected in the company’s results for the quarter. During the third quarter of 2019, the company had partnered with FanDuel Group to open sportsbooks at Blue Chip, Belterra Resort, Diamond Jo Dubuque and Diamond Jo Worth properties in the Midwest. This is likely to have aided the company’s performance as well.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Boyd Gaming this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. This is not the case here, as you will see below.
Earnings ESP: Boyd Gaming has an Earnings ESP of -112.09%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks Poised to Beat Earnings Estimates
Here are some stocks from the Zacks Consumer Discretionary space that investors may consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:
BJ's Wholesale Club Holdings, Inc. (BJ - Free Report) has a Zacks Rank #2 and an Earnings ESP of +17.39%.
Mattel, Inc. (MAT - Free Report) has a Zacks Rank #2 and an Earnings ESP of +1.66%.
Churchill Downs Incorporated (CHDN - Free Report) has a Zacks Rank #3 and an Earnings ESP of +112.9%.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>