Brokerages Expect Boyd Gaming Corporation (BYD) Will Announce Quarterly Sales of $592.43 Million

Wall Street brokerages forecast that Boyd Gaming Corporation (NYSE:BYD) will post sales of $592.43 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Boyd Gaming’s earnings, with the lowest sales estimate coming in at $581.60 million and the highest estimate coming in at $598.72 million. Boyd Gaming posted sales of $554.82 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.8%. The business is expected to announce its next earnings report on Tuesday, February 13th.

On average, analysts expect that Boyd Gaming will report full-year sales of $592.43 million for the current financial year, with estimates ranging from $2.37 billion to $2.39 billion. For the next year, analysts anticipate that the company will report sales of $2.43 billion per share, with estimates ranging from $2.41 billion to $2.47 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Boyd Gaming.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $587.70 million for the quarter, compared to analyst estimates of $592.29 million. Boyd Gaming had a return on equity of 13.82% and a net margin of 5.08%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.14 earnings per share.

Several research analysts recently commented on the company. Morgan Stanley set a $28.00 price target on Boyd Gaming and gave the company a “hold” rating in a research report on Tuesday, October 24th. Telsey Advisory Group increased their price target on Boyd Gaming from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, October 12th. SunTrust Banks reissued a “buy” rating and set a $27.00 price target on shares of Boyd Gaming in a research report on Tuesday, October 24th. Zacks Investment Research cut Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Finally, ValuEngine cut Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Boyd Gaming has an average rating of “Buy” and an average price target of $27.47.

Boyd Gaming (BYD) traded up $0.62 during mid-day trading on Thursday, hitting $31.89. The stock had a trading volume of 1,677,964 shares, compared to its average volume of 1,279,036. The company has a quick ratio of 0.68, a current ratio of 0.73 and a debt-to-equity ratio of 2.95. The firm has a market capitalization of $3,485.54, a PE ratio of 26.26 and a beta of 1.82. Boyd Gaming has a 52 week low of $18.45 and a 52 week high of $32.43.

In other Boyd Gaming news, Director Robert L. Boughner sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.70, for a total value of $1,068,000.00. Following the sale, the director now owns 40,000 shares in the company, valued at $1,068,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP William R. Boyd sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.71, for a total value of $186,970.00. Following the completion of the sale, the vice president now owns 1,251 shares in the company, valued at approximately $33,414.21. The disclosure for this sale can be found here. Corporate insiders own 29.16% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in BYD. Teachers Advisors LLC raised its stake in Boyd Gaming by 5.1% in the first quarter. Teachers Advisors LLC now owns 254,526 shares of the company’s stock valued at $5,602,000 after buying an additional 12,424 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Boyd Gaming by 34.5% during the first quarter. Dimensional Fund Advisors LP now owns 522,507 shares of the company’s stock worth $11,500,000 after purchasing an additional 133,947 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Boyd Gaming by 2.1% during the second quarter. Nisa Investment Advisors LLC now owns 26,520 shares of the company’s stock worth $658,000 after purchasing an additional 550 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Boyd Gaming by 0.3% during the second quarter. Louisiana State Employees Retirement System now owns 33,700 shares of the company’s stock worth $836,000 after purchasing an additional 100 shares during the period. Finally, Aperio Group LLC increased its stake in shares of Boyd Gaming by 4.7% during the second quarter. Aperio Group LLC now owns 31,737 shares of the company’s stock worth $787,000 after purchasing an additional 1,426 shares during the period. Hedge funds and other institutional investors own 76.18% of the company’s stock.

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Boyd Gaming Company Profile

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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Earnings History and Estimates for Boyd Gaming (NYSE:BYD)

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