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Likely Coronavirus Impact on Boyd Gaming (BYD) Q1 Earnings

Boyd Gaming Corporation BYD 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.

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Boyd Gaming Corporation Price and EPS Surprise

 

Boyd Gaming Corporation Price and EPS Surprise
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 has a Zacks Rank #2 and an Earnings ESP of +17.39%.

Mattel, Inc. MAT has a Zacks Rank #2 and an Earnings ESP of +1.66%.

Churchill Downs Incorporated CHDN has a Zacks Rank #3 and an Earnings ESP of +112.9%.

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Mattel, Inc. (MAT) : Free Stock Analysis Report
 
BJ's Wholesale Club Holdings, Inc. (BJ) : Free Stock Analysis Report
 
Churchill Downs, Incorporated (CHDN) : Free Stock Analysis Report
 
Boyd Gaming Corporation (BYD) : Free Stock Analysis Report
 
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