BYD stock Gaming
It owns and operates gaming entertainment properties in … "Sports/iGaming and margin expansion are the two most transformative themes in our coverage and Regional Gaming companies are uniquely positioned to enjoy the most upside," Kelley said.For investors, Kelley said Penn National Gaming, Inc (NASDAQ: PENN) is the best way to play sports betting and iGaming. Looking ahead, Kelly is projecting third-quarter GGR will decline 25% from a year ago and fourth-quarter GGR will drop 15%.The postponement of the Big 10 and PAC-12 NCAA football season has generated some negative headlines for DraftKings Inc (NASDAQ: DKNG) and the rest of the sports betting industry. Boyd ...[...]Advanced Micro Devices, Akamai Technologies and Seagate Technology were among companies reporting improved quarterly earnings despite headwinds from the Covid-19 pandemic.Boyd (BYD) delivered earnings and revenue surprises of 32.41% and 25.48%, respectively, for the quarter ended June 2020. (See LVS stock analysis on TipRanks)Melco Resorts & Entertainment (MLCO)Rounding out our list is Melco Resorts & Entertainment, which operates high-end integrated gaming and entertainment resorts in Asia and Europe.The company has yet to announce second-quarter results. The average price target is $56.50, which is more optimistic than Bain’s, and suggests upside potential of 29%. Revenue dropped 75.2% to $209.9 million, while adjusted earnings plummeted 147% to a net loss of $110.5 million, versus the second quarter of 2019.
Boyd, …reported meaningfully lower operating expenses allowing it to generate impressive year-over-year margin gains (1,000 bps+, wow)…”The company’s stock is down 16% year-to-date. Log in to see them here or sign up to get started.Create a list of the investments you want to track.Visit a quote page and your recently viewed tickers will be displayed here.Boyd Gaming Corporation said Tuesday that its second-quarter net loss widened as the casino operator reopened at the end of the quarter but visitation and revenues remain weak. The company operates gaming resorts in Asia and the United States. What happened Shares of Boyd Gaming (NYSE: BYD) were jumping 9% higher in morning trading on Wednesday after the regional casino operator reported earnings results that beat analyst expectations … The average price target is $22.67, and while not as high as Bain’s, still signifies healthy upside potential of 34.5%. Penn and Boyd Gaming Corporation (NYSE: BYD) also have relatively low exposure to the Las Vegas market, which is struggling due to a severe slowdown in air travel and major events.Expanding Margins: Kelley said margin expansion for regional casinos is being driven by three factors: * Reduction of lower-margin offerings, such as buffets. The company is divided into three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.Operating performance in the second quarter declined considerably, with all 29 of Boyd's properties closed for most of the quarter because of the COVID-19 pandemic. Besides gaming, its resorts feature entertainment, retail malls, restaurants and convention and exhibition facilities.Consistent with the severe challenges the gaming industry has experienced, the pandemic had a devastating impact on the company in Q2. However, Greff predicts a rebound for Boyd based on its “localized/regional footprint predominantly focused on a drive-to, leisure gaming customer.” The company has an advantage over other gaming companies because it is less dependent on the travel and tourism industry.According to the J.P. Morgan analyst, there is another catalyst that could propel the stock forward. The consensus estimates, which are consistent with those for the rest of the casino industry, are disappointing to say the least. (To watch Greff’s track record, click here)Similarly, most of the Street is getting onboard. Trump uses coronavirus briefing to criticize Biden’s mask mandate, decry mail-in vote, question Kamala Harris’s eligibility as vice president No surprise, the stock is down 30% year-to-date.Despite all of the doom and gloom, Roth Capital analyst David Bain, who also covers LVS, is bullish on the stock.
Similarly, the stock has declined 35% year-to-date.Howevere, Roth Capital analyst David Bain believes LVS is well positioned with “peer-best liquidity (could survive 18-months in zero revenue environment while still executing Macau and Singapore development projects), while longer-term large new project/M&A optionality remains strong.”As a result of its strong liquidity, Bain is taking a long-term approach to the stock. This is based on 8 Buy ratings and 2 Holds. The Roth Capital analyst noted, “MLCO has taken prudent actions to ensure liquidity, including increasing its capacity (cash of $1.2 billion with revolver capacity of $1.6 billion; selling its 9.9% ownership in Crown; reducing its operating expense run-rate; suspending its regular dividend and implementing executive salary cuts.”In line with his comments, Bain rates Melco a Buy. (See Melco stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Market Digest: ENB, BYD, LAZ, MSFT, NOK, SON, CBOE, FBDiscover new investment ideas by accessing unbiased, in-depth investment research
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