Boyd Gaming Co.

Boyd Gaming shares fell to a new 52-week low of $76.33 and trade at a P/E ratio of 3.28; InvestingPro rates the stock as undervalued versus fair value and the RSI signals oversold. Year-to-date the price is down 10.8%. For the second quarter Boyd Gaming reported adjusted EPS of $1.93 (expected $1.90) on revenue of $1.03 billion (expected $1.04 billion); EBITDA of $373.4 million and the Las Vegas locals segment with $106.4 million beat estimates. Mizuho raised its price target to $104, Stifel set its target at $92 and kept its rating at hold, while investors watch further price development. » Plus sur de.investing.com

Boyd Gaming stock rose to a record high of $91.09 and is up 6.08% year-to-date. With a P/E ratio of 3.88 and an InvestingPro fair value of $96.54, the stock still appears undervalued. In the second quarter, adjusted earnings of $1.93 per share slightly beat expectations, while revenue of $1.03 billion narrowly missed forecasts; EBITDA of $373.4 million exceeded estimates. Analysts raised price targets (Mizuho 101→104, Stifel 91→92) and point to high gross margins (58.8%) and aggressive share buybacks. » Plus sur de.investing.com

Analysts peg Boyd Gaming fair value around $102 versus a $86 share price, implying about 17% upside as the company heads into its July 23 earnings. Boyd trades at a forward P/E of 11 while generating roughly $317 million in quarterly adjusted EBITDAR and maintaining property margins above 39%. Management’s aggressive capital return—about $150 million in quarterly buybacks, $2.9 billion returned and a 33% reduction in share count over four years—plus low leverage (1.8x) underpin the potential rerating. » Plus sur finance.yahoo.com