#3 - Boyd Gaming (NYSE:BYD)
Boyd Gaming (NYSE:BYD) makes this list of sports betting stocks to consider due to its stake in FanDuel. FanDuel is one of the largest competitors for DraftKings. But the company also has a proprietary app, B Connected Sports, which launched in Nevada. This app allows users to bet on collegiate sports.
Unlike many other sports betting stocks, BYD stock held up well throughout the worst of the pandemic. It’s only been in the last few months that the stock has capitulated to market pressure. The stock is only supposed to post single-digit growth in revenue and earnings over the next several years. However with a price-to-earnings (P/E) ratio of 11x, the stock looks reasonably valued. Analysts give the stock a price target of $75.36 which is a 31% upside from its current level.
And the stock has over 70% institutional ownership which means it’s likely to be included in many of the most popular funds.
About Boyd Gaming
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.
Read More - Current Price
- $72.33
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $91.38 (26.3% Upside)
