Boyd Group Services (NYSE:BGSI) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Boyd Group Services (NYSE:BGSI) issued its quarterly earnings data on Wednesday. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02, Zacks reports. Boyd Group Services had a net margin of 0.59% and a return on equity of 4.63%.

Boyd Group Services Trading Down 12.0%

NYSE BGSI traded down $13.41 during trading on Wednesday, reaching $98.26. The company’s stock had a trading volume of 142,290 shares, compared to its average volume of 39,326. The company has a quick ratio of 3.00, a current ratio of 3.14 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $2.73 billion, a PE ratio of 119.82 and a beta of 0.78. The stock has a 50-day simple moving average of $132.30. Boyd Group Services has a 1-year low of $94.77 and a 1-year high of $183.10.

Boyd Group Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, March 31st were given a $0.156 dividend. This represents a $0.62 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, March 31st. Boyd Group Services’s dividend payout ratio (DPR) is 54.88%.

Institutional Trading of Boyd Group Services

Several large investors have recently modified their holdings of the company. Public Sector Pension Investment Board acquired a new position in shares of Boyd Group Services during the fourth quarter worth approximately $262,000. Susquehanna Portfolio Strategies LLC bought a new stake in shares of Boyd Group Services in the fourth quarter valued at about $287,000. Invesco Ltd. bought a new stake in shares of Boyd Group Services in the fourth quarter valued at about $318,000. Deutsche Bank AG bought a new stake in shares of Boyd Group Services in the fourth quarter valued at about $373,000. Finally, CANADA LIFE ASSURANCE Co bought a new stake in shares of Boyd Group Services in the fourth quarter valued at about $861,000. 0.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BGSI has been the topic of a number of recent analyst reports. Weiss Ratings initiated coverage on shares of Boyd Group Services in a research report on Thursday, January 15th. They set a “sell (d+)” rating on the stock. Stephens dropped their price target on shares of Boyd Group Services from $200.00 to $157.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 14th. Scotiabank upgraded shares of Boyd Group Services to a “strong-buy” rating in a research report on Wednesday, January 14th. Finally, Wall Street Zen cut shares of Boyd Group Services from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Boyd Group Services presently has an average rating of “Moderate Buy” and an average target price of $157.00.

About Boyd Group Services

Boyd Group Services Inc is a North American operator of collision repair centers that provides vehicle repair, paint and refinishing, and auto glass replacement services. Its locations perform mechanical and cosmetic collision repairs, parts sourcing, and related warranty work, serving retail customers as well as business clients such as insurers and fleet operators. The company’s operations typically include estimating, repair planning, paint and body work, and post-repair quality assurance and customer service.

Headquartered in Winnipeg, Manitoba, Canada, Boyd Group Services operates across both Canada and the United States through a network of company-owned collision repair facilities under various local and regional brand names.