Wall Street analysts expect that Boyd Gaming Corporation (NYSE:BYD) will post $0.22 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Boyd Gaming Corporation’s earnings. The lowest EPS estimate is $0.18 and the highest is $0.25. Boyd Gaming Corporation posted earnings per share of $0.14 in the same quarter last year, which would indicate a positive year over year growth rate of 57.1%. The business is expected to issue its next earnings report on Tuesday, November 7th.
On average, analysts expect that Boyd Gaming Corporation will report full year earnings of $1.08 per share for the current fiscal year, with EPS estimates ranging from $1.03 to $1.12. For the next fiscal year, analysts forecast that the company will report earnings of $1.34 per share, with EPS estimates ranging from $1.14 to $1.49. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Boyd Gaming Corporation.
Boyd Gaming Corporation (NYSE:BYD) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.04). Boyd Gaming Corporation had a net margin of 19.15% and a return on equity of 13.31%. The business had revenue of $599.87 million during the quarter, compared to analyst estimates of $602.39 million. During the same quarter last year, the company posted $0.16 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis.
Several brokerages have recently commented on BYD. Zacks Investment Research raised Boyd Gaming Corporation from a “sell” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Friday, July 14th. Instinet reissued a “buy” rating and set a $30.00 price objective (up previously from $27.00) on shares of Boyd Gaming Corporation in a report on Monday, June 19th. Morgan Stanley lowered Boyd Gaming Corporation from an “overweight” rating to an “equal weight” rating and set a $26.00 price objective for the company. in a report on Tuesday, June 20th. They noted that the move was a valuation call. Wells Fargo & Company reissued a “market perform” rating and set a $25.00 price objective (up previously from $22.00) on shares of Boyd Gaming Corporation in a report on Monday, June 19th. Finally, Bank of America Corporation reissued a “neutral” rating and set a $27.00 price objective (up previously from $25.00) on shares of Boyd Gaming Corporation in a report on Monday, June 5th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Boyd Gaming Corporation presently has a consensus rating of “Buy” and an average target price of $26.87.
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Shares of Boyd Gaming Corporation (NYSE:BYD) opened at 26.09 on Monday. The stock has a 50 day moving average of $26.17 and a 200-day moving average of $24.16. The firm has a market capitalization of $2.94 billion, a P/E ratio of 6.89 and a beta of 1.92. Boyd Gaming Corporation has a 1-year low of $16.77 and a 1-year high of $27.00.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, September 15th. Boyd Gaming Corporation’s dividend payout ratio (DPR) is presently 5.25%.
In other news, insider William S. Boyd sold 76,531 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $25.18, for a total transaction of $1,927,050.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert L. Boughner sold 40,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.70, for a total value of $1,068,000.00. Following the sale, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $1,068,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,531 shares of company stock valued at $3,447,521. Insiders own 29.16% of the company’s stock.
Several large investors have recently added to or reduced their stakes in BYD. Great West Life Assurance Co. Can boosted its stake in shares of Boyd Gaming Corporation by 7.4% during the first quarter. Great West Life Assurance Co. Can now owns 114,064 shares of the company’s stock valued at $2,509,000 after purchasing an additional 7,901 shares during the period. First Trust Advisors LP boosted its stake in shares of Boyd Gaming Corporation by 46.7% during the first quarter. First Trust Advisors LP now owns 32,149 shares of the company’s stock valued at $708,000 after purchasing an additional 10,235 shares during the period. American Century Companies Inc. boosted its stake in shares of Boyd Gaming Corporation by 909.7% during the first quarter. American Century Companies Inc. now owns 347,918 shares of the company’s stock valued at $7,658,000 after purchasing an additional 313,462 shares during the period. US Bancorp DE boosted its stake in shares of Boyd Gaming Corporation by 7.9% during the first quarter. US Bancorp DE now owns 61,371 shares of the company’s stock valued at $1,351,000 after purchasing an additional 4,508 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Boyd Gaming Corporation by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 1,089,574 shares of the company’s stock valued at $23,981,000 after purchasing an additional 20,815 shares during the period. 74.66% of the stock is owned by hedge funds and other institutional investors.
About Boyd Gaming Corporation
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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