Zacks: Brokerages Expect Boyd Gaming Co. (BYD) to Announce $0.30 EPS

Wall Street analysts expect Boyd Gaming Co. (NYSE:BYD) to announce earnings per share of $0.30 for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Boyd Gaming’s earnings. The highest EPS estimate is $0.42 and the lowest is $0.23. Boyd Gaming also posted earnings per share of $0.30 during the same quarter last year. The business is scheduled to report its next quarterly earnings report after the market closes on Tuesday, May 2nd.

On average, analysts expect that Boyd Gaming will report full-year earnings of $1.14 per share for the current year, with EPS estimates ranging from $0.91 to $1.46. For the next financial year, analysts anticipate that the company will report earnings of $1.35 per share, with EPS estimates ranging from $1.11 to $1.67. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Boyd Gaming.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Tuesday, February 14th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.14. The firm had revenue of $554.50 million for the quarter, compared to the consensus estimate of $562.55 million. Boyd Gaming had a net margin of 18.37% and a return on equity of 13.66%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share.



Several analysts have issued reports on the company. Barclays PLC set a $22.00 target price on Boyd Gaming and gave the stock a “hold” rating in a research note on Saturday, February 18th. Zacks Investment Research upgraded Boyd Gaming from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research report on Tuesday. Imperial Capital reiterated an “outperform” rating and issued a $26.00 price objective on shares of Boyd Gaming in a research report on Tuesday, February 21st. Telsey Advisory Group began coverage on Boyd Gaming in a research report on Wednesday, February 15th. They issued an “outperform” rating and a $23.00 price objective for the company. Finally, Buckingham Research began coverage on Boyd Gaming in a research report on Friday, January 27th. They issued a “buy” rating and a $23.00 price objective for the company. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $24.46.

In related news, Director Robert L. Boughner sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $19.64, for a total transaction of $1,178,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian A. Larson sold 10,740 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $19.90, for a total value of $213,726.00. Following the transaction, the executive vice president now owns 197,724 shares of the company’s stock, valued at approximately $3,934,707.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,740 shares of company stock valued at $1,797,726. 29.67% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Scopus Asset Management L.P. acquired a new position in shares of Boyd Gaming during the third quarter worth approximately $16,813,000. Norges Bank acquired a new position in shares of Boyd Gaming during the fourth quarter worth approximately $11,720,000. BlackRock Fund Advisors increased its position in shares of Boyd Gaming by 9.5% in the third quarter. BlackRock Fund Advisors now owns 5,636,019 shares of the company’s stock worth $111,480,000 after buying an additional 487,598 shares in the last quarter. Highline Capital Management L.P. increased its position in shares of Boyd Gaming by 8.6% in the third quarter. Highline Capital Management L.P. now owns 4,158,300 shares of the company’s stock worth $82,251,000 after buying an additional 327,700 shares in the last quarter. Finally, TCS Capital Management LLC acquired a new position in shares of Boyd Gaming during the fourth quarter worth approximately $3,691,000. Institutional investors own 69.79% of the company’s stock.

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Shares of Boyd Gaming (NYSE:BYD) traded down 1.12% during midday trading on Tuesday, reaching $22.17. 732,973 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $21.01 and a 200 day moving average price of $19.98. The company has a market cap of $2.51 billion, a P/E ratio of 6.12 and a beta of 1.64. Boyd Gaming has a 12 month low of $16.77 and a 12 month high of $22.66.

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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