$592.26 Million in Sales Expected for Boyd Gaming Co. (BYD) This Quarter

Wall Street brokerages forecast that Boyd Gaming Co. (NYSE:BYD) will report $592.26 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Boyd Gaming’s earnings, with the highest sales estimate coming in at $598.72 million and the lowest estimate coming in at $580.90 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 6.7%. The company is expected to report its next earnings results on Tuesday, February 13th.

On average, analysts expect that Boyd Gaming will report full year sales of $592.26 million for the current year, with estimates ranging from $2.37 billion to $2.39 billion. For the next fiscal year, analysts forecast that the company will post 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 sell-side analysts that cover Boyd Gaming.

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

Several analysts have recently commented on the company. Zacks Investment Research upgraded Boyd Gaming from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Tuesday, January 9th. Stifel Nicolaus increased their price objective on Boyd Gaming from $28.00 to $30.00 and gave the company a “hold” rating in a report on Friday, October 27th. ValuEngine lowered Boyd Gaming from a “buy” rating to a “hold” rating in a report on Friday, December 1st. SunTrust Banks reiterated a “buy” rating and set a $27.00 price objective on shares of Boyd Gaming in a report on Tuesday, October 24th. Finally, Argus assumed coverage on Boyd Gaming in a report on Wednesday. They set a “buy” rating and a $44.00 price objective for the company. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $31.69.

Shares of Boyd Gaming (NYSE BYD) opened at $37.74 on Friday. Boyd Gaming has a twelve month low of $19.20 and a twelve month high of $37.75. The company has a current ratio of 0.73, a quick ratio of 0.68 and a debt-to-equity ratio of 2.95. The company has a market capitalization of $4,179.50, a price-to-earnings ratio of 31.49 and a beta of 1.82.

The company also recently announced a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Thursday, December 28th were paid a $0.05 dividend. The ex-dividend date was Wednesday, December 27th. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. Boyd Gaming’s dividend payout ratio (DPR) is 19.23%.

Hedge funds have recently modified their holdings of the stock. Fortaleza Asset Management Inc. raised its stake in Boyd Gaming by 80.7% in the 3rd quarter. Fortaleza Asset Management Inc. now owns 5,630 shares of the company’s stock worth $147,000 after acquiring an additional 2,515 shares during the last quarter. Zacks Investment Management purchased a new position in Boyd Gaming in the 2nd quarter worth $202,000. Shelton Capital Management acquired a new stake in Boyd Gaming during the 2nd quarter worth about $203,000. Creative Planning acquired a new stake in Boyd Gaming during the 4th quarter worth about $206,000. Finally, Regentatlantic Capital LLC acquired a new stake in Boyd Gaming during the 3rd quarter worth about $216,000. Institutional investors own 76.22% of the company’s stock.

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About Boyd Gaming

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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