Zacks: Analysts Anticipate Boyd Gaming Co. (BYD) Will Announce Earnings of $0.34 Per Share

Wall Street brokerages forecast that Boyd Gaming Co. (NYSE:BYD) will announce $0.34 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have made estimates for Boyd Gaming’s earnings, with estimates ranging from $0.27 to $0.41. Boyd Gaming posted earnings of $0.22 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 54.5%. The firm is scheduled to announce its next earnings report on Tuesday, February 19th.

On average, analysts expect that Boyd Gaming will report full year earnings of $1.34 per share for the current financial year, with EPS estimates ranging from $1.27 to $1.42. For the next financial year, analysts expect that the business will report earnings of $1.81 per share, with EPS estimates ranging from $1.62 to $2.28. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Boyd Gaming.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, October 25th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. The firm had revenue of $612.20 million for the quarter, compared to the consensus estimate of $607.60 million. Boyd Gaming had a net margin of 7.19% and a return on equity of 12.53%.

BYD has been the topic of a number of recent research reports. Jefferies Financial Group upgraded Boyd Gaming from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Tuesday, August 14th. Desjardins initiated coverage on Boyd Gaming in a research report on Friday, October 19th. They issued a “buy” rating on the stock. Bank of America reiterated a “buy” rating and issued a $37.00 target price on shares of Boyd Gaming in a research report on Tuesday, October 16th. ValuEngine lowered Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. Finally, Zacks Investment Research reiterated a “hold” rating and issued a $28.00 target price on shares of Boyd Gaming in a research report on Monday, November 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $38.67.

In other Boyd Gaming news, insider Marianne Boyd Johnson sold 30,600 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $35.86, for a total value of $1,097,316.00. Following the sale, the insider now owns 231,173 shares in the company, valued at approximately $8,289,863.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP William R. Boyd sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $37.00, for a total value of $259,000.00. Following the completion of the sale, the vice president now owns 21,903 shares in the company, valued at approximately $810,411. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,000 shares of company stock worth $2,428,514. Insiders own 28.88% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Boyd Gaming by 3.4% in the 3rd quarter. BlackRock Inc. now owns 9,723,773 shares of the company’s stock worth $329,149,000 after purchasing an additional 315,940 shares in the last quarter. FMR LLC boosted its position in Boyd Gaming by 10.9% in the 3rd quarter. FMR LLC now owns 5,199,373 shares of the company’s stock worth $176,000,000 after purchasing an additional 509,885 shares in the last quarter. Valinor Management L.P. boosted its position in Boyd Gaming by 24.7% in the 3rd quarter. Valinor Management L.P. now owns 2,555,300 shares of the company’s stock worth $86,497,000 after purchasing an additional 505,600 shares in the last quarter. Millennium Management LLC boosted its position in Boyd Gaming by 15.9% in the 2nd quarter. Millennium Management LLC now owns 1,486,709 shares of the company’s stock worth $51,529,000 after purchasing an additional 203,895 shares in the last quarter. Finally, Bamco Inc. NY boosted its position in Boyd Gaming by 4.8% in the 3rd quarter. Bamco Inc. NY now owns 1,470,401 shares of the company’s stock worth $49,773,000 after purchasing an additional 67,794 shares in the last quarter. Institutional investors and hedge funds own 71.66% of the company’s stock.

NYSE BYD traded down $0.30 during trading hours on Wednesday, reaching $24.87. The stock had a trading volume of 977,982 shares, compared to its average volume of 1,823,242. The firm has a market cap of $2.76 billion, a P/E ratio of 24.15, a P/E/G ratio of 1.23 and a beta of 1.98. Boyd Gaming has a 52-week low of $23.53 and a 52-week high of $40.44. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 3.09.

About Boyd Gaming

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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