$843.51 Million in Sales Expected for Boyd Gaming Co. (BYD) This Quarter

Wall Street brokerages predict that Boyd Gaming Co. (NYSE:BYD) will announce $843.51 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Boyd Gaming’s earnings, with the lowest sales estimate coming in at $837.68 million and the highest estimate coming in at $848.49 million. Boyd Gaming posted sales of $616.79 million during the same quarter last year, which suggests a positive year-over-year growth rate of 36.8%. The company is expected to announce its next quarterly earnings results on Thursday, July 25th.

On average, analysts expect that Boyd Gaming will report full year sales of $3.33 billion for the current fiscal year, with estimates ranging from $3.32 billion to $3.35 billion. For the next financial year, analysts forecast that the business will report sales of $3.37 billion, with estimates ranging from $3.35 billion to $3.39 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Boyd Gaming.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, April 25th. The company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $827.30 million for the quarter, compared to the consensus estimate of $826.52 million. Boyd Gaming had a return on equity of 13.57% and a net margin of 4.18%. The company’s revenue was up 36.5% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS.



Several equities research analysts recently commented on BYD shares. TheStreet upgraded Boyd Gaming from a “c+” rating to a “b” rating in a report on Monday, March 25th. Morgan Stanley set a $33.00 price target on Boyd Gaming and gave the company a “buy” rating in a report on Friday, February 22nd. Finally, ValuEngine downgraded Boyd Gaming from a “hold” rating to a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $34.88.

In other Boyd Gaming news, VP William R. Boyd sold 4,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $28.60, for a total transaction of $114,400.00. Following the completion of the transaction, the vice president now owns 34,015 shares in the company, valued at approximately $972,829. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Keith Smith sold 100,000 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $29.41, for a total value of $2,941,000.00. Following the transaction, the chief executive officer now owns 1,339,355 shares of the company’s stock, valued at approximately $39,390,430.55. The disclosure for this sale can be found here. Insiders have sold a total of 166,579 shares of company stock valued at $4,893,971 in the last 90 days. Insiders own 29.35% of the company’s stock.

A number of hedge funds have recently made changes to their positions in BYD. Sageworth Trust Co bought a new stake in shares of Boyd Gaming in the 1st quarter worth $28,000. Oregon Public Employees Retirement Fund raised its stake in shares of Boyd Gaming by 1,978.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 671,007 shares of the company’s stock worth $32,000 after buying an additional 638,716 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Boyd Gaming in the 1st quarter worth $46,000. Rockefeller Capital Management L.P. bought a new stake in shares of Boyd Gaming in the 1st quarter worth $48,000. Finally, Strs Ohio raised its stake in shares of Boyd Gaming by 400.0% in the 1st quarter. Strs Ohio now owns 3,000 shares of the company’s stock worth $82,000 after buying an additional 2,400 shares in the last quarter. Institutional investors own 72.66% of the company’s stock.

Shares of NYSE:BYD opened at $26.16 on Friday. The stock has a market cap of $2.94 billion, a P/E ratio of 19.67, a P/E/G ratio of 0.74 and a beta of 2.09. The company has a current ratio of 0.72, a quick ratio of 0.68 and a debt-to-equity ratio of 4.08. Boyd Gaming has a one year low of $18.98 and a one year high of $39.35.

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 March 13, 2019, the company operated 29 gaming entertainment properties 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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