Zacks: Analysts Anticipate Boyd Gaming Co. (NYSE:BYD) Will Announce Earnings of $0.39 Per Share

Wall Street brokerages expect that Boyd Gaming Co. (NYSE:BYD) will report earnings of $0.39 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Boyd Gaming’s earnings. The highest EPS estimate is $0.47 and the lowest is $0.37. Boyd Gaming posted earnings per share of $0.23 during the same quarter last year, which would suggest a positive year over year growth rate of 69.6%. The company is expected to issue its next quarterly earnings report after the market closes on Tuesday, October 22nd.

According to Zacks, analysts expect that Boyd Gaming will report full-year earnings of $1.72 per share for the current fiscal year, with EPS estimates ranging from $1.70 to $1.77. For the next year, analysts expect that the firm will post earnings of $1.97 per share, with EPS estimates ranging from $1.80 to $2.04. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Boyd Gaming.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Tuesday, July 30th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). Boyd Gaming had a net margin of 4.18% and a return on equity of 14.13%. The firm had revenue of $846.13 million during the quarter, compared to analyst estimates of $839.64 million. During the same period in the previous year, the company posted $0.38 EPS. Boyd Gaming’s revenue for the quarter was up 37.2% compared to the same quarter last year.

BYD has been the topic of several research reports. Stifel Nicolaus set a $36.00 target price on Boyd Gaming and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wolfe Research initiated coverage on Boyd Gaming in a research report on Friday, June 14th. They issued an “outperform” rating and a $37.00 target price on the stock. ValuEngine raised Boyd Gaming from a “sell” rating to a “hold” rating in a research report on Wednesday. Susquehanna Bancshares initiated coverage on Boyd Gaming in a research report on Wednesday, July 24th. They issued a “neutral” rating and a $28.00 target price on the stock. Finally, Telsey Advisory Group raised Boyd Gaming from a “market perform” rating to an “outperform” rating and upped their target price for the company from $31.00 to $36.00 in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.89.

Shares of Boyd Gaming stock traded up $0.56 on Monday, hitting $24.58. The stock had a trading volume of 672,057 shares, compared to its average volume of 1,216,748. Boyd Gaming has a twelve month low of $18.98 and a twelve month high of $33.82. The business’s 50 day moving average is $24.41 and its two-hundred day moving average is $26.35. The company has a quick ratio of 0.71, a current ratio of 0.75 and a debt-to-equity ratio of 3.90. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 1.01 and a beta of 2.17.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Thursday, September 26th. Boyd Gaming’s dividend payout ratio is currently 21.05%.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. grew its position in Boyd Gaming by 4.6% during the second quarter. BlackRock Inc. now owns 10,191,254 shares of the company’s stock worth $274,551,000 after buying an additional 444,253 shares in the last quarter. FMR LLC grew its position in Boyd Gaming by 20.0% during the first quarter. FMR LLC now owns 7,182,207 shares of the company’s stock worth $196,506,000 after buying an additional 1,198,851 shares in the last quarter. Cohen & Steers Inc. acquired a new stake in Boyd Gaming during the second quarter worth approximately $116,258,000. JPMorgan Chase & Co. grew its position in Boyd Gaming by 9.2% during the second quarter. JPMorgan Chase & Co. now owns 3,216,867 shares of the company’s stock worth $88,207,000 after buying an additional 270,546 shares in the last quarter. Finally, Par Capital Management Inc. grew its position in Boyd Gaming by 7.5% during the second quarter. Par Capital Management Inc. now owns 2,359,195 shares of the company’s stock worth $63,557,000 after buying an additional 165,000 shares in the last quarter. 67.93% of the stock is currently owned by institutional investors and hedge funds.

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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