Boyd Gaming Co. (BYD) Expected to Post Earnings of $0.34 Per Share

Wall Street brokerages expect Boyd Gaming Co. (NYSE:BYD) to post $0.34 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Boyd Gaming’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.41. Boyd Gaming posted earnings per share of $0.22 in the same quarter last year, which would suggest a positive year-over-year growth rate of 54.5%. The firm is expected to issue its next quarterly earnings report on Tuesday, February 19th.

According to Zacks, analysts expect that Boyd Gaming will report full-year earnings of $1.34 per share for the current year, with EPS estimates ranging from $1.27 to $1.42. For the next year, analysts expect that the firm will post earnings of $1.81 per share, with EPS estimates ranging from $1.62 to $2.28. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Boyd Gaming.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, October 25th. The company reported $0.23 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.23. The company had revenue of $612.20 million during the quarter, compared to the consensus estimate of $607.60 million. Boyd Gaming had a return on equity of 12.53% and a net margin of 7.19%.



Several brokerages have weighed in on BYD. ValuEngine downgraded Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 8th. Jefferies Financial Group raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, August 14th. Zacks Investment Research raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Wednesday, September 26th. Bank of America reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Boyd Gaming in a research note on Tuesday, October 16th. Finally, Desjardins began coverage on Boyd Gaming in a research note on Friday, October 19th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $38.67.

NYSE:BYD traded down $0.05 during mid-day trading on Thursday, reaching $24.37. The stock had a trading volume of 1,315,300 shares, compared to its average volume of 1,402,955. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 1.22 and a beta of 1.95. Boyd Gaming has a one year low of $22.30 and a one year high of $40.44. The company has a debt-to-equity ratio of 3.09, a current ratio of 1.37 and a quick ratio of 1.33.

Several hedge funds have recently modified their holdings of BYD. BlackRock Inc. grew its position in Boyd Gaming by 7.7% in the second quarter. BlackRock Inc. now owns 9,407,833 shares of the company’s stock worth $326,077,000 after acquiring an additional 670,588 shares during the period. Commonwealth Equity Services LLC bought a new position in shares of Boyd Gaming during the 2nd quarter worth about $570,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Boyd Gaming by 5.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 565,136 shares of the company’s stock worth $19,588,000 after acquiring an additional 30,031 shares during the period. Oakbrook Investments LLC bought a new position in shares of Boyd Gaming during the 3rd quarter worth about $213,000. Finally, Martingale Asset Management L P bought a new position in shares of Boyd Gaming during the 2nd quarter worth about $927,000. 71.87% of the stock is owned by hedge funds and other institutional investors.

Boyd Gaming Company Profile

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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Earnings History and Estimates for Boyd Gaming (NYSE:BYD)

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