Boyd Gaming Corporation to Post FY2019 Earnings of $1.60 Per Share, Gabelli Forecasts (BYD)
Boyd Gaming Corporation (NYSE:BYD) – Analysts at Gabelli reduced their FY2019 EPS estimates for shares of Boyd Gaming Corporation in a research note issued to investors on Friday. Gabelli analyst A. Trivison now expects that the company will earn $1.60 per share for the year, down from their previous forecast of $1.65.
Boyd Gaming Corporation (NYSE:BYD) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). Boyd Gaming Corporation had a return on equity of 14.01% and a net margin of 5.08%. The business had revenue of $587.70 million during the quarter, compared to analyst estimates of $592.29 million. During the same quarter last year, the firm posted $0.14 EPS. The company’s revenue was up 10.5% compared to the same quarter last year.
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Several other brokerages also recently issued reports on BYD. Telsey Advisory Group raised their price target on Boyd Gaming Corporation from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Morgan Stanley set a $28.00 price target on Boyd Gaming Corporation and gave the company a “hold” rating in a research report on Tuesday, October 24th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $29.00 price target (down from $30.00) on shares of Boyd Gaming Corporation in a research report on Sunday, July 30th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $27.00 price target on shares of Boyd Gaming Corporation in a research report on Tuesday, October 24th. Finally, Zacks Investment Research downgraded Boyd Gaming Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Boyd Gaming Corporation has a consensus rating of “Buy” and a consensus price target of $27.47.
Boyd Gaming Corporation (BYD) traded down 2.697% on Monday, hitting $28.325. The company had a trading volume of 496,496 shares. The stock has a market cap of $3.19 billion, a P/E ratio of 7.482 and a beta of 1.87. Boyd Gaming Corporation has a 12-month low of $16.77 and a 12-month high of $29.89. The firm’s 50 day moving average price is $26.87 and its 200 day moving average price is $25.50.
The firm also recently declared a quarterly dividend, which was paid on Sunday, October 15th. Shareholders of record on Monday, September 18th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Friday, September 15th. Boyd Gaming Corporation’s dividend payout ratio is 19.23%.
In other Boyd Gaming Corporation news, insider William S. Boyd sold 76,531 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $25.18, for a total transaction of $1,927,050.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP William R. Boyd sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.71, for a total transaction of $186,970.00. Following the transaction, the vice president now owns 1,251 shares of the company’s stock, valued at approximately $33,414.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,531 shares of company stock valued at $3,447,521. Corporate insiders own 29.16% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace North America L.P. lifted its stake in Boyd Gaming Corporation by 441.4% during the second quarter. Marshall Wace North America L.P. now owns 230,849 shares of the company’s stock worth $5,771,000 after purchasing an additional 188,208 shares during the period. DSAM Partners London Ltd bought a new position in Boyd Gaming Corporation during the second quarter worth about $2,059,000. Schwab Charles Investment Management Inc. lifted its stake in Boyd Gaming Corporation by 15.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 441,350 shares of the company’s stock worth $9,715,000 after purchasing an additional 58,537 shares during the period. Cipher Capital LP lifted its stake in Boyd Gaming Corporation by 16.1% during the second quarter. Cipher Capital LP now owns 127,405 shares of the company’s stock worth $3,161,000 after purchasing an additional 17,635 shares during the period. Finally, Zweig DiMenna Associates LLC bought a new position in Boyd Gaming Corporation during the second quarter worth about $4,385,000. Hedge funds and other institutional investors own 74.92% of the company’s stock.
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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