Analyst Downgrades Boyd Gaming (NYSE: BYD) Following Q1 Earnings Miss

Font: Financial Modeling Prep  • Apr 24, 2026

• Analyst downgrades Boyd Gaming (NYSE: BYD) stock to a 'Hold' rating after its first-quarter financial report.
• The casino and entertainment company missed analyst consensus estimates for both quarterly earnings, reporting $1.60 per share, and quarterly sales, which reached $997.40 million.
• Despite the earnings and revenue misses, Boyd Gaming highlighted year-over-year revenue growth, strong margins exceeding 39.00%, and announced a new $500.00 million share buyback plan.

Boyd Gaming (NYSE: BYD) is a leading casino and entertainment company with a diverse portfolio of properties. It operates numerous gaming locations across the United States, with a significant presence in the Midwest and South. The company's strategy emphasizes geographic diversification and a strong focus on operational efficiency within the competitive gaming industry.

Following the company's latest financial report, analyst John DeCree of CBRE downgrades Boyd Gaming stock to a Hold rating. As published by TheFly on April 24, 2026, the analyst sets a price target of $100.00. This target suggests a potential 20.13% upside from the stock's price of $83.24 at the time, offering a key investment insight for potential investors.

The analyst action comes after Boyd Gaming reports worse-than-expected first-quarter results. As highlighted by Benzinga, the company announces quarterly earnings of $1.60 per share, which misses the analyst consensus estimate of $1.73. This news causes the company's shares to fall 6.10% to $83.66, reflecting market reaction to the earnings miss.

On the revenue side, quarterly sales are nearly $997.40 million, also falling short of the estimated $1.00 billion. However, as noted by Zacks, this revenue figure is an increase from the $991.57 million reported in the same quarter a year ago. The company has surpassed revenue estimates in each of the last four quarters, indicating strong underlying financial performance despite the recent miss.

Despite the earnings miss, CEO Keith Smith notes the benefits of the company's robust business model. He points to year-over-year growth in property-level revenue and margins exceeding 39.00%. Alongside the results, Boyd Gaming also announces a new $500.00 million share buyback plan to return value to shareholders, signaling confidence in its future prospects and commitment to shareholder returns.