Wall Street analysts expect that Boyd Gaming Co. (NYSE:BYD – Get Rating) will report $837.47 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Boyd Gaming’s earnings, with the lowest sales estimate coming in at $829.20 million and the highest estimate coming in at $849.27 million. Boyd Gaming reported sales of $753.31 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.2%. The business is scheduled to issue its next quarterly earnings report on Tuesday, April 26th.
On average, analysts expect that Boyd Gaming will report full year sales of $3.45 billion for the current fiscal year, with estimates ranging from $3.34 billion to $3.49 billion. For the next financial year, analysts forecast that the company will post sales of $3.54 billion, with estimates ranging from $3.34 billion to $3.65 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Boyd Gaming.
Boyd Gaming (NYSE:BYD – Get Rating) last posted its quarterly earnings results on Thursday, February 3rd. The company reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.11. Boyd Gaming had a return on equity of 42.78% and a net margin of 13.77%. The business had revenue of $879.84 million for the quarter, compared to analyst estimates of $754.16 million. During the same period last year, the company earned $0.46 EPS.
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A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Boyd Gaming from $81.00 to $78.00 and set a “buy” rating on the stock in a research report on Monday, November 29th. Raymond James raised shares of Boyd Gaming to a “strong-buy” rating in a research report on Thursday, December 9th. Finally, Morgan Stanley cut their price target on shares of Boyd Gaming from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday, February 4th. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $82.00.
Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in Boyd Gaming by 19.6% in the 3rd quarter. Goldman Sachs Group Inc. now owns 1,299,811 shares of the company’s stock valued at $82,226,000 after buying an additional 212,666 shares during the last quarter. Morgan Stanley increased its stake in shares of Boyd Gaming by 40.3% during the 3rd quarter. Morgan Stanley now owns 1,523,350 shares of the company’s stock worth $96,368,000 after purchasing an additional 437,893 shares during the last quarter. BlackRock Inc. increased its stake in shares of Boyd Gaming by 1.9% during the 3rd quarter. BlackRock Inc. now owns 6,782,949 shares of the company’s stock worth $429,091,000 after purchasing an additional 127,315 shares during the last quarter. Polaris Wealth Advisory Group LLC purchased a new stake in shares of Boyd Gaming during the 3rd quarter worth approximately $8,665,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Boyd Gaming during the 2nd quarter worth approximately $756,000. Hedge funds and other institutional investors own 66.84% of the company’s stock.
Shares of Boyd Gaming stock opened at $67.05 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.23 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $7.38 billion, a PE ratio of 16.47, a PEG ratio of 0.28 and a beta of 1.98. The stock’s fifty day simple moving average is $64.44 and its 200 day simple moving average is $63.22. Boyd Gaming has a 12 month low of $50.38 and a 12 month high of $72.72.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 15th. Investors of record on Tuesday, March 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, March 14th. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.07.
Boyd Gaming Company Profile (Get Rating)
Boyd Gaming Corp. engages in the management and operation of gaming and entertainment properties. It operates through the following segments: Las Vegas Locals, Downtown Las Vegas and Midwest & South. The Las Vegas Locals segment consists of casinos that serve the resident population of the Las Vegas metropolitan area.
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