Wall Street brokerages predict that Boyd Gaming Co. (NYSE:BYD) will report $777.50 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Boyd Gaming’s earnings, with the highest sales estimate coming in at $789.40 million and the lowest estimate coming in at $766.30 million. Boyd Gaming reported sales of $590.83 million during the same quarter last year, which indicates a positive year-over-year growth rate of 31.6%. The company is scheduled to report its next earnings results on Tuesday, February 19th.
On average, analysts expect that Boyd Gaming will report full-year sales of $2.61 billion for the current fiscal year, with estimates ranging from $2.60 billion to $2.62 billion. For the next financial year, analysts expect that the company will report sales of $3.33 billion, with estimates ranging from $3.27 billion to $3.39 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Boyd Gaming.
Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, October 25th. The company reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. The company had revenue of $612.20 million for the quarter, compared to analyst estimates of $607.60 million. Boyd Gaming had a return on equity of 12.53% and a net margin of 7.19%.
BYD has been the topic of a number of research analyst reports. Zacks Investment Research raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Wednesday, September 26th. Morgan Stanley set a $35.00 price target on Boyd Gaming and gave the company a “hold” rating in a report on Friday, October 26th. ValuEngine lowered Boyd Gaming from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Jefferies Financial Group raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Tuesday, August 14th. Finally, Barclays lowered their price target on Boyd Gaming from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $38.67.
A number of hedge funds have recently made changes to their positions in the stock. Marshall Wace North America L.P. bought a new position in Boyd Gaming during the third quarter valued at about $1,557,000. Vanguard Group Inc. boosted its stake in Boyd Gaming by 0.3% during the third quarter. Vanguard Group Inc. now owns 7,137,397 shares of the company’s stock valued at $241,601,000 after buying an additional 18,695 shares in the last quarter. Morgan Stanley boosted its stake in Boyd Gaming by 7.0% during the third quarter. Morgan Stanley now owns 343,238 shares of the company’s stock valued at $11,618,000 after buying an additional 22,343 shares in the last quarter. Teachers Advisors LLC boosted its stake in Boyd Gaming by 2.6% during the third quarter. Teachers Advisors LLC now owns 158,094 shares of the company’s stock valued at $5,351,000 after buying an additional 4,030 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in Boyd Gaming by 11.2% during the third quarter. Glenmede Trust Co. NA now owns 1,453,934 shares of the company’s stock valued at $49,213,000 after buying an additional 146,686 shares in the last quarter. 71.87% of the stock is owned by institutional investors and hedge funds.
Shares of BYD opened at $23.75 on Friday. The firm has a market cap of $2.74 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.95. The company has a current ratio of 1.37, a quick ratio of 1.33 and a debt-to-equity ratio of 3.09. Boyd Gaming has a one year low of $22.30 and a one year high of $40.44.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 28th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.01%. Boyd Gaming’s dividend payout ratio is currently 23.30%.
Boyd Gaming Company Profile
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 and South. As of October 15, 2018, the company operated 29 gaming entertainment properties offering a total of 1.76 million square feet of casino space, approximately 38,000 gaming machines, 900 table games, 11,000 hotel rooms, and 320 food and beverage outlets located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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