Analysts Expect Boyd Gaming Co. (BYD) Will Post Quarterly Sales of $805.59 Million

Analysts predict that Boyd Gaming Co. (NYSE:BYD) will report $805.59 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Boyd Gaming’s earnings, with estimates ranging from $782.16 million to $820.30 million. Boyd Gaming reported sales of $590.83 million in the same quarter last year, which indicates a positive year over year growth rate of 36.3%. The business is expected to announce its next quarterly earnings results on Tuesday, February 19th.

According to Zacks, analysts expect that Boyd Gaming will report full-year sales of $2.64 billion for the current fiscal year, with estimates ranging from $2.62 billion to $2.66 billion. For the next year, analysts forecast that the company will post sales of $3.32 billion, with estimates ranging from $3.27 billion to $3.38 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for 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, hitting the Thomson Reuters’ consensus estimate of $0.23. Boyd Gaming had a return on equity of 12.59% and a net margin of 7.19%. The company had revenue of $612.20 million for the quarter, compared to analysts’ expectations of $607.60 million.



Several research firms recently issued reports on BYD. Zacks Investment Research cut Boyd Gaming from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. ValuEngine cut Boyd Gaming from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. JPMorgan Chase & Co. lifted their price objective on Boyd Gaming from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Jefferies Financial Group set a $42.00 price objective on Boyd Gaming and gave the stock a “hold” rating in a report on Friday, July 27th. Finally, Telsey Advisory Group lowered their price objective on Boyd Gaming from $35.00 to $31.00 and set a “market perform” rating on the stock in a report on Friday. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $39.67.

BYD stock traded down $1.60 during trading on Monday, hitting $24.41. The stock had a trading volume of 2,619,300 shares, compared to its average volume of 1,371,519. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 3.05. Boyd Gaming has a twelve month low of $24.22 and a twelve month high of $40.44. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 1.23 and a beta of 1.58.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, September 27th. Boyd Gaming’s dividend payout ratio (DPR) is 23.30%.

In other Boyd Gaming news, insider Marianne Boyd Johnson sold 2,907 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $37.01, for a total value of $107,588.07. Following the transaction, the insider now directly owns 231,173 shares of the company’s stock, valued at approximately $8,555,712.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William R. Boyd sold 7,000 shares of Boyd Gaming stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $37.00, for a total transaction of $259,000.00. Following the sale, the vice president now directly owns 21,903 shares in the company, valued at approximately $810,411. The disclosure for this sale can be found here. Insiders sold a total of 67,000 shares of company stock worth $2,428,514 over the last three months. Corporate insiders own 28.88% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in BYD. First Hawaiian Bank purchased a new stake in shares of Boyd Gaming during the 3rd quarter valued at approximately $100,000. Summit Trail Advisors LLC raised its position in shares of Boyd Gaming by 2,976.2% during the 1st quarter. Summit Trail Advisors LLC now owns 105,790 shares of the company’s stock valued at $106,000 after buying an additional 102,351 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Boyd Gaming during the 2nd quarter valued at approximately $130,000. Contravisory Investment Management Inc. purchased a new stake in shares of Boyd Gaming during the 2nd quarter valued at approximately $151,000. Finally, NumerixS Investment Technologies Inc purchased a new stake in shares of Boyd Gaming during the 2nd quarter valued at approximately $169,000. 71.97% of the stock is currently owned by hedge funds and other institutional investors.

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 December 31, 2017, the company owned and operated 24 gaming entertainment properties offering a total of 1,358,856 square feet of casino space, 30,267 slot machines, 632 table games, and 9,372 hotel rooms located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, and Mississippi.

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