Boyd Gaming Co. (BYD) Expected to Post Earnings of $0.44 Per Share

Brokerages expect that Boyd Gaming Co. (NYSE:BYD) will post earnings of $0.44 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Boyd Gaming’s earnings, with estimates ranging from $0.38 to $0.51. Boyd Gaming reported earnings per share of $0.39 during the same quarter last year, which suggests a positive year over year growth rate of 12.8%. The company is scheduled to announce its next quarterly earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Boyd Gaming will report full year earnings of $1.80 per share for the current financial year, with EPS estimates ranging from $1.58 to $2.12. For the next year, analysts anticipate that the business will post earnings of $2.09 per share, with EPS estimates ranging from $1.88 to $2.40. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Boyd Gaming.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, February 21st. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. Boyd Gaming had a return on equity of 13.41% and a net margin of 4.38%. The business had revenue of $791.60 million for the quarter, compared to analyst estimates of $774.43 million. During the same period last year, the company earned $0.22 EPS. The firm’s revenue was up 33.0% on a year-over-year basis.



Several research analysts have recently issued reports on the company. Morgan Stanley set a $33.00 price target on Boyd Gaming and gave the stock a “buy” rating in a research report on Friday, February 22nd. Stifel Nicolaus upgraded Boyd Gaming from a “hold” rating to a “buy” rating and reduced their price target for the stock from $37.00 to $33.00 in a research report on Friday, January 11th. ValuEngine upgraded Boyd Gaming from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. TheStreet lowered Boyd Gaming from a “b” rating to a “c+” rating in a research report on Monday, November 26th. Finally, Zacks Investment Research lowered Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $34.75.

Shares of NYSE:BYD traded down $0.68 during midday trading on Friday, hitting $28.38. The company had a trading volume of 1,074,575 shares, compared to its average volume of 1,452,053. Boyd Gaming has a 12 month low of $18.98 and a 12 month high of $39.35. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 3.45. The firm has a market capitalization of $3.20 billion, a P/E ratio of 21.34, a P/E/G ratio of 0.76 and a beta of 2.13.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.24 annualized dividend and a yield of 0.85%. Boyd Gaming’s dividend payout ratio is presently 18.05%.

Boyd Gaming declared that its board has authorized a stock buyback program on Wednesday, December 12th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

In other Boyd Gaming news, CEO Keith Smith sold 100,000 shares of Boyd Gaming stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $29.41, for a total transaction of $2,941,000.00. Following the transaction, the chief executive officer now directly owns 1,339,355 shares in the company, valued at $39,390,430.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Brian A. Larson sold 62,579 shares of Boyd Gaming stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.38, for a total value of $1,838,571.02. Following the transaction, the executive vice president now owns 130,088 shares in the company, valued at $3,821,985.44. The disclosure for this sale can be found here. Insiders own 28.88% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Prudential Financial Inc. lifted its holdings in shares of Boyd Gaming by 76.1% in the third quarter. Prudential Financial Inc. now owns 246,387 shares of the company’s stock valued at $8,340,000 after purchasing an additional 106,460 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of Boyd Gaming in the fourth quarter valued at about $373,000. Teachers Advisors LLC lifted its holdings in shares of Boyd Gaming by 2.6% in the third quarter. Teachers Advisors LLC now owns 158,094 shares of the company’s stock valued at $5,351,000 after purchasing an additional 4,030 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Boyd Gaming by 5.9% in the third quarter. AQR Capital Management LLC now owns 75,517 shares of the company’s stock valued at $2,556,000 after purchasing an additional 4,214 shares in the last quarter. Finally, Chartwell Investment Partners LLC lifted its holdings in shares of Boyd Gaming by 3.2% in the fourth quarter. Chartwell Investment Partners LLC now owns 90,244 shares of the company’s stock valued at $1,875,000 after purchasing an additional 2,797 shares in the last quarter. Institutional investors own 70.75% of the company’s stock.

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 & South. As of December 31, 2018, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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