{"id":127908,"date":"2020-02-24T10:47:57","date_gmt":"2020-02-24T18:47:57","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=127908"},"modified":"2020-02-24T11:24:20","modified_gmt":"2020-02-24T19:24:20","slug":"boyd-gaming-earns-more-praise-from-wall-street","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/boyd-gaming-earns-more-praise-from-wall-street\/","title":{"rendered":"Boyd Gaming Garners More Bullish Commentary, But Not Enough to Stem Big Decline"},"content":{"rendered":"

Shares of Boyd Gaming (NYSE:BYD) are lower by more than six percent in midday trading, as gaming stocks are following the broader market lower amid intensifying fears that the COVID-19 virus is getting worse and will sap global economic growth in the first quarter.<\/p>\n

\"\"
Orleans operator Boyd Gaming continues landing bullish analyst commentary. (Image: Booking.com)<\/figcaption><\/figure>\n

Monday’s slide in the stock of one of the largest operators in Downtown Las Vegas could be a buying opportunity if some recently bullish analyst chatter proves accurate. Earlier today, Nomura Instinet’s Harry Curtis reiterated a \u201cbuy\u201d rating on Boyd stock, while lifting his price target on the name to $39 from $37.<\/p>\n

BYD\u2019s 4Q results were slightly better than expected, and management introduced earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR)<\/span> guidance for the year, which at the midpoint is slightly ahead of Street estimates,\u201d said Curtis in a note to clients. \u201cOur 2020-21 estimates increase slightly, and our target price lifts to $39 (from $37).\u201d<\/p><\/blockquote>\n

Operators with exposure to Macau have been slammed<\/a>, as the novel coronavirus led to a 15-day closure of gaming properties there. Harsh travel restrictions will keep many tourists away from the peninsula for weeks, if not longer.<\/p>\n

Las Vegas-based Boyd has no Macau presence. Beyond its home market, the company has gaming venues in Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.<\/p>\n

Skirting The Virus…For Now<\/h2>\n

Earlier today, the New York Times <\/i> reported that there are 35 documented cases of the novel coronavirus in the US across eight states. Of that group, there are two confirmed cases in a state where Boyd has operations \u2013 Illinois. California has the most with 15 cases.<\/p>\n

\n

Other analysts have lauded Boyd due to strength in the lucrative Las Vegas locals segment and the company’s plans for a small expansion at the Fremont Casino<\/a>.<\/p>\n<\/div>\n

\u201cWe encourage investors to tactically buy any short-term profit taking-related weakness, as the structural underpinnings of our Buy-rated investment thesis remain firmly intact,\u201d said Stifel analyst Steven Wieczynski in a note provided to Casino.org<\/i> last week.<\/strong><\/p>\n

Other Catalysts<\/h2>\n

Boyd also owns the Eldorado, Jokers Wild, and Main Street Station, among other venues in Sin City. In addition to its Las Vegas exposure, the company has gained acclaim on several other fronts. For example, the operator could generate as much as $3 per share in free cash flows this year, which would be among the highest in the regional gaming space.<\/p>\n

Boyd has also earned adulation from Wall Street for its sport betting exposure<\/a>, which isn’t confined to the Silver State. Indiana, Iowa, and Pennsylvania are among the fastest-growing sports wagering states in the country, and Boyd has a skin in New Jersey.<\/p>\n

Curtis, the Nomura Instinet analyst, has a $39 price forecast on Boyd, implying significant upside after today’s tumble. The Wall Street average is $37.69.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Boyd Gaming (NYSE:BYD) are lower by more than six percent in midday trading, as gaming stocks are following the broader market lower amid intensifying fears that the COVID-19 virus is getting worse and will sap global economic growth in the first quarter. Monday’s slide in the stock of one of the largest operators […]<\/p>\n","protected":false},"author":46,"featured_media":127916,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\nBoyd Gaming Earns More Praise From Wall Street<\/title>\n<meta name=\"description\" content=\"Boyd Gaming is drawing more praise from the Wall Street community, indicating that the recent slump in the stock could be a buying opportunity.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/boyd-gaming-earns-more-praise-from-wall-street\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boyd Gaming Earns More Praise From Wall Street\" \/>\n<meta property=\"og:description\" content=\"Boyd Gaming is drawing more praise from the Wall Street community, indicating that the recent slump in the stock could be a buying opportunity.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/boyd-gaming-earns-more-praise-from-wall-street\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-24T18:47:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-24T19:24:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/02\/orleans.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"857\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/boyd-gaming-earns-more-praise-from-wall-street\/\",\"url\":\"https:\/\/www.casino.org\/news\/boyd-gaming-earns-more-praise-from-wall-street\/\",\"name\":\"Boyd Gaming Earns More Praise From Wall Street\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/boyd-gaming-earns-more-praise-from-wall-street\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/boyd-gaming-earns-more-praise-from-wall-street\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/02\/orleans.jpg\",\"datePublished\":\"2020-02-24T18:47:57+00:00\",\"dateModified\":\"2020-02-24T19:24:20+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Boyd Gaming is drawing more praise from the Wall Street community, indicating that the recent slump in the stock could be a buying opportunity.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/boyd-gaming-earns-more-praise-from-wall-street\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/boyd-gaming-earns-more-praise-from-wall-street\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/boyd-gaming-earns-more-praise-from-wall-street\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/02\/orleans.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/02\/orleans.jpg\",\"width\":1280,\"height\":857,\"caption\":\"Orelans operator Boyd Gaming continues landing bullish analyst commentary. 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