Equities research analysts expect Boyd Gaming Co. (NYSE:BYD) to post $0.45 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Boyd Gaming’s earnings, with the highest EPS estimate coming in at $0.50 and the lowest estimate coming in at $0.41. Boyd Gaming reported earnings of $0.32 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 40.6%. The firm is scheduled to report its next quarterly earnings report on Thursday, February 20th.
According to Zacks, analysts expect that Boyd Gaming will report full year earnings of $1.72 per share for the current financial year, with EPS estimates ranging from $1.67 to $1.77. For the next financial year, analysts anticipate that the firm will report earnings of $1.95 per share, with EPS estimates ranging from $1.74 to $2.05. Zacks’ EPS averages are an average based on a survey of research analysts that cover Boyd Gaming.
Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. The company had revenue of $819.57 million during the quarter, compared to the consensus estimate of $829.22 million. Boyd Gaming had a return on equity of 15.57% and a net margin of 4.76%. Boyd Gaming’s revenue was up 33.9% on a year-over-year basis. During the same period last year, the company earned $0.23 earnings per share.
A number of analysts recently issued reports on BYD shares. Telsey Advisory Group upgraded Boyd Gaming from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $31.00 to $36.00 in a research report on Wednesday, July 31st. Zacks Investment Research downgraded Boyd Gaming from a “hold” rating to a “sell” rating and set a $28.00 price target for the company. in a research report on Friday, October 18th. Desjardins upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Barclays assumed coverage on Boyd Gaming in a research report on Tuesday, September 3rd. They issued an “equal weight” rating and a $8.00 price target for the company. Finally, Deutsche Bank reduced their target price on Boyd Gaming from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $30.25.
BYD traded up $0.27 during trading on Wednesday, reaching $27.25. The company had a trading volume of 525,662 shares, compared to its average volume of 1,198,156. The stock has a market cap of $3.03 billion, a P/E ratio of 20.48, a PEG ratio of 1.18 and a beta of 2.17. The business has a 50 day simple moving average of $25.47 and a 200-day simple moving average of $26.13. Boyd Gaming has a 52 week low of $18.98 and a 52 week high of $31.80. The company has a quick ratio of 0.71, a current ratio of 0.75 and a debt-to-equity ratio of 3.90.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were paid a dividend of $0.07 per share. The ex-dividend date was Thursday, September 26th. This represents a $0.28 annualized dividend and a dividend yield of 1.03%. Boyd Gaming’s dividend payout ratio is currently 21.05%.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Boyd Gaming by 4.6% during the second quarter. BlackRock Inc. now owns 10,191,254 shares of the company’s stock valued at $274,551,000 after purchasing an additional 444,253 shares in the last quarter. Cohen & Steers Inc. bought a new stake in Boyd Gaming during the second quarter valued at about $116,258,000. JPMorgan Chase & Co. boosted its position in Boyd Gaming by 9.2% during the second quarter. JPMorgan Chase & Co. now owns 3,216,867 shares of the company’s stock valued at $88,207,000 after purchasing an additional 270,546 shares in the last quarter. Par Capital Management Inc. boosted its position in Boyd Gaming by 7.5% during the second quarter. Par Capital Management Inc. now owns 2,359,195 shares of the company’s stock valued at $63,557,000 after purchasing an additional 165,000 shares in the last quarter. Finally, Bamco Inc. NY boosted its position in Boyd Gaming by 0.6% during the second quarter. Bamco Inc. NY now owns 2,143,058 shares of the company’s stock valued at $57,734,000 after purchasing an additional 13,209 shares in the last quarter. 67.93% of the stock is currently owned by institutional investors.
About Boyd Gaming
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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