NEW YORK, NY / ACCESSWIRE / February 22, 2018 / Shares of Penn National Gaming and Boyd Gaming tumbled into the red on Wednesday. While Boyd Gaming reported its fourth quarter results on Tuesday, Penn National Gaming reported the fourth quarter results earlier this month.

RDI Initiates Coverage on:

Penn National Gaming, Inc.
https://rdinvesting.com/news/?ticker=PENN

Boyd Gaming Corporation
https://rdinvesting.com/news/?ticker=BYD

Penn National Gaming's shares closed down 4.53% on about 1.7 million shares on Wednesday. There was no big news yesterday but earlier in the month the company reported fourth quarter financial results and reported a loss. For the quarter, Penn reported a loss of $3.40 a share. Adjusted for pretax expenses and asset impairment costs, loss came in at 4 cents a share. Wall Street had been waiting for a profit of 19 cents a share. Revenue at $769 million was slightly better than the $768 million that analysts had been expecting. For the year Penn reported a profit of $5.39 per share and revenue of $3.15 billion. CEO Timothy J. Wilmott commented, "The fourth quarter concluded a successful and active year for Penn National, and it marked another period of consolidated positive revenue growth that exceeded both guidance and consensus estimates. In addition, adjusted EBITDA after master lease payments of $68.8 million exceeded guidance by $2.0 million, before the impact of several largely non-operational items, principally the impact of higher cash-settled stock award expense, which rose significantly due to the increase in our stock price."

Access RDI's Penn National Gaming, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=PENN

Boyd Gaming's shares closed down almost 7% yesterday on roughly 6 million shares traded. The company reported its fourth quarter financial results on Tuesday and missed expectations. The Las Vegas-based company reported a profit of 71 cents per share. Adjusted EPS came out to 22 cents a share which lagged four cents behind the 26 cents that was expected. Revenue at $590.8 million was also behind the $596.2 million that analysts had anticipated. For the full year, Boyd reported a profit of $189.2 million, or $1.64 a share. Revenue was $2.38 billion. CEO Keith Smith remarked, "Boyd Gaming finished a strong year with a record fourth-quarter performance, as every segment of our business delivered growth in net revenues, Adjusted EBITDA and operating margins. Our Nevada operations continued their long-term growth trajectory, with our 11th consecutive quarter of same-store Adjusted EBITDA gains in our Las Vegas Locals segment. Our regional operations showed further improvement, as our Midwest and South segment posted its best performance of the year. And we laid the groundwork for future growth, reaching agreements in December to acquire five properties in the Midwest and Northeast. In all, 2017 was an exceptional year for our Company, as we created significant value for our shareholders and positioned ourselves to continue delivering growth." In the last twelve months shares have climbed roughly 70%.

Access RDI's Boyd Gaming Corporation Research Report at:
https://rdinvesting.com/news/?ticker=BYD

Our Actionable Research on Penn National Gaming, Inc. (NASDAQ: PENN) and Boyd Gaming Corporation (NYSE: BYD) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com