Desjardins Weighs in on Boyd Group Services Inc.’s Q1 2024 Earnings (TSE:BYD)

Boyd Group Services Inc. (TSE:BYD) – Analysts at Desjardins issued their Q1 2024 earnings per share estimates for shares of Boyd Group Services in a research note issued to investors on Thursday, April 18th. Desjardins analyst G. Ho anticipates that the company will post earnings of $1.03 per share for the quarter. Desjardins currently has a “Hold” rating and a $310.00 target price on the stock. The consensus estimate for Boyd Group Services’ current full-year earnings is $6.56 per share. Desjardins also issued estimates for Boyd Group Services’ FY2024 earnings at $6.55 EPS and FY2025 earnings at $9.14 EPS.

Boyd Group Services (TSE:BYD) last released its quarterly earnings results on Wednesday, March 20th. The company reported C$1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.50 by C($0.23). The firm had revenue of C$1.01 billion during the quarter, compared to the consensus estimate of C$1.01 billion. Boyd Group Services had a net margin of 2.94% and a return on equity of 11.00%.

Several other analysts also recently issued reports on BYD. CIBC reduced their price target on Boyd Group Services from C$306.00 to C$304.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Jefferies Financial Group boosted their price target on Boyd Group Services from C$290.00 to C$340.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. TD Securities downgraded Boyd Group Services from a “buy” rating to a “hold” rating and reduced their price target for the company from C$320.00 to C$310.00 in a research note on Thursday, March 21st. Raymond James reduced their price target on Boyd Group Services from C$380.00 to C$375.00 and set a “strong-buy” rating for the company in a research note on Thursday, March 21st. Finally, Scotiabank lifted their price objective on Boyd Group Services from C$315.00 to C$325.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$319.69.

Boyd Group Services Stock Performance

BYD opened at C$267.08 on Monday. The business has a fifty day simple moving average of C$295.93 and a 200 day simple moving average of C$276.10. The company has a market capitalization of C$5.73 billion, a PE ratio of 48.21, a price-to-earnings-growth ratio of -56.72 and a beta of 1.06. Boyd Group Services has a 1 year low of C$213.66 and a 1 year high of C$324.75. The company has a debt-to-equity ratio of 137.26, a current ratio of 0.63 and a quick ratio of 0.30.

Boyd Group Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Sunday, March 31st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.22%. Boyd Group Services’s dividend payout ratio (DPR) is currently 10.83%.

Boyd Group Services Company Profile

Boyd Group Services Inc, together with its subsidiaries, operates non-franchised collision repair centers in North America. The company operates its locations under the Boyd Autobody & Glass and Assured Automotive names in Canada; and Gerber Collision & Glass name in the United States. It also operates as a retail auto glass operator under the Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority, and Autoglassonly.com names in the United States.