Boyd Gaming Corporation (NYSE:BYD) Just Reported Third-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?

Boyd Gaming Corporation (NYSE:BYD) investors will be delighted, with the company turning in some strong numbers with its latest results. The company beat expectations with revenues of US$961m arriving 4.8% ahead of forecasts. Statutory earnings per share (EPS) were US$1.43, 2.3% ahead of estimates. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Boyd Gaming after the latest results.

Check out our latest analysis for Boyd Gaming

Following last week's earnings report, Boyd Gaming's 14 analysts are forecasting 2025 revenues to be US$3.90b, approximately in line with the last 12 months. Statutory earnings per share are predicted to shoot up 25% to US$6.79. In the lead-up to this report, the analysts had been modelling revenues of US$3.87b and earnings per share (EPS) of US$6.76 in 2025. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

It will come as no surprise then, to learn that the consensus price target is largely unchanged at US$73.86. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. There are some variant perceptions on Boyd Gaming, with the most bullish analyst valuing it at US$82.00 and the most bearish at US$67.00 per share. The narrow spread of estimates could suggest that the business' future is relatively easy to value, or thatthe analysts have a strong view on its prospects.

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. It's pretty clear that there is an expectation that Boyd Gaming's revenue growth will slow down substantially, with revenues to the end of 2025 expected to display 1.3% growth on an annualised basis. This is compared to a historical growth rate of 7.4% over the past five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 9.7% per year. Factoring in the forecast slowdown in growth, it seems obvious that Boyd Gaming is also expected to grow slower than other industry participants.

The Bottom Line

The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. On the plus side, there were no major changes to revenue estimates; although forecasts imply they will perform worse than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. At Simply Wall St, we have a full range of analyst estimates for Boyd Gaming going out to 2026, and you can see them free on our platform here..

And what about risks? Every company has them, and we've spotted 3 warning signs for Boyd Gaming you should know about.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.