Boyd Stock Holds Steady As Investors Wait Q4 Results
Multi-jurisdictional casino operator, Boyd Gaming (BYD: 8.51 0.00%) is scheduled to release fourth quarter 2009 earnings on Friday February 26.
With stock prices holding steady within the $7 to $8 range and concerns growing over Borgata casino’s co-owner MGM Mirage’s stake in the New Jersey property, investors hope that quarter four is as encouraging as the third.
Analysts estimates have ranged from a low of -$0.07 to a high of $0.07 compared to a consensus estimate of $0.014.
In quarter 3 2009, Boyd was able to produce both increased EBITDA and operating margins in three of its four regions.
The softness felt in the Las Vegas locals market was offset by improved results in the Midwest and Southern regions.
Quarter 3 net revenues were reported at $398.2 million compared to $426.5 million in the same quarter the previous year.
Shares of BYD reached a high for the month on February 2 at $8.41 and a low of $7.42 on February 8.
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