Cormark Equities Analysts Cut Earnings Estimates for TSE:BYD

Boyd Group Services Inc. (TSE:BYD) – Analysts at Cormark dropped their FY2024 EPS estimates for shares of Boyd Group Services in a report released on Wednesday, November 6th. Cormark analyst J. Fenwick now expects that the company will post earnings of $1.56 per share for the year, down from their prior estimate of $1.96. Cormark currently has a “Hold” rating and a $255.00 price objective on the stock. The consensus estimate for Boyd Group Services’ current full-year earnings is $7.15 per share. Cormark also issued estimates for Boyd Group Services’ Q4 2024 earnings at ($0.01) EPS and FY2025 earnings at $5.71 EPS.

Several other brokerages have also recently issued reports on BYD. ATB Capital lowered their price objective on shares of Boyd Group Services from C$340.00 to C$320.00 in a research note on Wednesday. Royal Bank of Canada dropped their target price on shares of Boyd Group Services from C$306.00 to C$280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Stifel Nicolaus dropped their target price on shares of Boyd Group Services from C$280.00 to C$275.00 in a research report on Monday, October 28th. BMO Capital Markets dropped their target price on shares of Boyd Group Services from C$260.00 to C$250.00 in a research report on Wednesday. Finally, CIBC dropped their target price on shares of Boyd Group Services from C$290.00 to C$268.00 in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$277.75.

Boyd Group Services Stock Performance

Shares of BYD opened at C$220.13 on Friday. The firm’s 50 day moving average is C$213.76 and its 200-day moving average is C$233.62. The stock has a market capitalization of C$4.73 billion, a P/E ratio of 58.70, a P/E/G ratio of -56.72 and a beta of 0.99. The company has a debt-to-equity ratio of 146.14, a current ratio of 0.61 and a quick ratio of 0.30. Boyd Group Services has a 12-month low of C$198.61 and a 12-month high of C$324.75.

Boyd Group Services (TSE:BYD) last released its quarterly earnings results on Tuesday, November 5th. The company reported C$0.20 EPS for the quarter, missing analysts’ consensus estimates of C$0.66 by C($0.46). The company had revenue of C$1.03 billion for the quarter, compared to the consensus estimate of C$1.03 billion. Boyd Group Services had a return on equity of 7.21% and a net margin of 1.93%.

Insider Buying and Selling at Boyd Group Services

In other Boyd Group Services news, Senior Officer Jeff Murray bought 456 shares of Boyd Group Services stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of C$223.12 per share, for a total transaction of C$101,742.72. Corporate insiders own 0.37% of the company’s stock.

Boyd Group Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Monday, September 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Friday, September 27th. Boyd Group Services’s dividend payout ratio (DPR) is presently 16.00%.

About Boyd Group Services

Boyd Group Services Inc, together with its subsidiaries, operates non-franchised collision repair centers in North America. The company operates its locations under the Boyd Autobody & Glass and Assured Automotive names in Canada; and Gerber Collision & Glass name in the United States. It also operates as a retail auto glass operator under the Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority, and Autoglassonly.com names in the United States.