$873.46 Million in Sales Expected for Boyd Gaming Co. (NYSE:BYD) This Quarter

Equities research analysts predict that Boyd Gaming Co. (NYSE:BYD – Get Rating) will post $873.46 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Boyd Gaming’s earnings, with estimates ranging from $855.40 million to $910.70 million. Boyd Gaming reported sales of $893.60 million during the same quarter last year, which indicates a negative year over year growth rate of 2.3%. The company is expected to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Boyd Gaming will report full year sales of $3.47 billion for the current year, with estimates ranging from $3.41 billion to $3.57 billion. For the next fiscal year, analysts forecast that the firm will report sales of $3.55 billion, with estimates ranging from $3.42 billion to $3.68 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Boyd Gaming.

Boyd Gaming (NYSE:BYD – Get Rating) last posted its quarterly earnings data on Tuesday, April 26th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.16. Boyd Gaming had a return on equity of 42.72% and a net margin of 15.09%. The firm had revenue of $860.74 million during the quarter, compared to analysts’ expectations of $836.15 million. During the same period in the prior year, the business earned $0.93 EPS.

Several equities research analysts recently weighed in on BYD shares. Susquehanna Bancshares upgraded Boyd Gaming from a “neutral” rating to a “positive” rating and increased their target price for the company from $73.00 to $74.00 in a report on Tuesday, April 26th. Berenberg Bank assumed coverage on Boyd Gaming in a report on Thursday. They issued a “buy” rating and a $78.00 price objective for the company. StockNews.com upgraded Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Friday, April 29th. Morgan Stanley lowered Boyd Gaming from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $82.00 to $76.00 in a research report on Monday, April 25th. Finally, Susquehanna increased their target price on Boyd Gaming from $74.00 to $79.00 in a research report on Wednesday, April 27th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $81.75.

In related news, Director Veronica J. Wilson sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $64.10, for a total transaction of $76,920.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 27.94% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of BYD. Zeke Capital Advisors LLC boosted its stake in Boyd Gaming by 622.1% during the 3rd quarter. Zeke Capital Advisors LLC now owns 2,701,622 shares of the company’s stock valued at $170,905,000 after purchasing an additional 2,327,474 shares during the last quarter. Gates Capital Management Inc. boosted its stake in Boyd Gaming by 376.0% during the 4th quarter. Gates Capital Management Inc. now owns 1,982,484 shares of the company’s stock valued at $129,991,000 after purchasing an additional 1,565,976 shares during the last quarter. Ariel Investments LLC boosted its stake in Boyd Gaming by 1,057.6% during the 4th quarter. Ariel Investments LLC now owns 1,608,923 shares of the company’s stock valued at $105,497,000 after purchasing an additional 1,469,939 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Boyd Gaming by 178.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,482,160 shares of the company’s stock valued at $93,761,000 after purchasing an additional 949,632 shares during the last quarter. Finally, Canyon Capital Advisors LLC purchased a new stake in Boyd Gaming during the 3rd quarter valued at $53,138,000. Institutional investors and hedge funds own 70.27% of the company’s stock.

BYD stock traded up $2.49 during trading on Friday, hitting $56.50. 904,981 shares of the company traded hands, compared to its average volume of 1,034,539. The firm has a market capitalization of $6.19 billion, a PE ratio of 12.23 and a beta of 1.90. Boyd Gaming has a 1 year low of $50.38 and a 1 year high of $72.72. The company has a 50-day moving average of $63.30 and a 200-day moving average of $63.33. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.88 and a current ratio of 0.99.

The business also recently disclosed a Variable dividend, which was paid on Wednesday, April 27th. Investors of record on Thursday, March 31st were given a dividend of $0.144 per share. The ex-dividend date of this dividend was Wednesday, March 30th. Boyd Gaming’s dividend payout ratio (DPR) is presently 6.28%.

Boyd Gaming Company Profile (Get Rating)

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, 2021, the company operated 28 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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