Shares of Boyd Gaming (BYD) jumped 11.1% during the previous trading day, ending at $67.55. The surge occurred alongside heavy trading activity, significantly higher than usual. Over the past month, however, the stock has declined by 9%.
After President Trump declared a temporary suspension of U.S. tariffs for most nations lasting 90 days, the firm’s stock price surged, indicating restored confidence among investors.
The anticipated quarterly earnings for this casino company stand at $1.54 per share, marking a yearly increase of 2%. In terms of revenue, projections suggest $976.6 million, representing a rise of 1.7% compared to the same period last year.
Although assessing anticipated increases in profits and sales is crucial for gauging a stock’s potential might, studies have demonstrated that there is a significant link between shifts in earnings forecast adjustments and short-term fluctuations in share prices.
For Boyd, the average EPS forecast for the quarter was slightly lowered over the past month to its present value. Typically, a declining pattern in earnings estimates does not lead to an increase in stock prices. Therefore, monitor BYD closely moving forward to determine whether this recent surge will develop into further momentum later on.
The stock presently has a Zacks Rank #3 (Hold). For a full list of today’s Zacks Rank #1 (Strong Buy) stocks, you can view them here >>>>
Boyd operates within the Zacks Gaming sector. In the same industry, DoubleDown Interactive Co., Ltd. Sponsored ADR (DDI) finished the previous trading day 7.4% higher at $9.74. During the past month, DDI’s performance has decreased by -6.7%.
The projected earnings per share (EPS) estimate for DoubleDown Interactive’s next report hasn’t changed in the last 30 days, staying steady at $0.55. This figure marks an 9.8% decrease from what was reported during the same period last year. Currently, DoubleDown Interactive holds a Zacks rank of #3, indicating a Hold rating.
The article was initially published on Zacks Investment Research (ecosundiaries.com).