Boyd Gaming Co. (NYSE:BYD) Expected to Post Quarterly Sales of $873.46 Million
Wall Street brokers expect Boyd Gaming Co. (NYSE:BYD – Get Rating) to post sales of $873.46 million for the current quarter, reports Zacks Investment Research. Seven analysts have made earnings estimates for Boyd Gaming, with the highest sales estimate at $910.70 million and the lowest estimate at $855.40 million. Boyd Gaming recorded sales of $893.60 million in the same quarter last year, suggesting a negative 2.3% year-over-year growth rate. The company is expected to release its next quarterly results on Monday, January 1.
On average, analysts expect Boyd Gaming to report annual sales of $3.47 billion for the current fiscal year, with estimates ranging from $3.41 billion to $3.57 billion. For the next fiscal year, analysts expect the company to post sales of $3.55 billion, with estimates ranging from $3.42 billion to $3.68 billion. Zacks Investment Research sales calculations are an average average based on a survey of research analysts who cover Boyd Gaming.
Boyd Gaming (NYSE:BYD – Get Rating) last released its quarterly results on Tuesday, April 26. The company reported earnings per share (EPS) of $1.40 for the quarter, beating the consensus estimate of $1.24 by $0.16. Boyd Gaming had a net margin of 15.09% and a return on equity of 42.72%. The company posted revenue of $860.74 million in the quarter, versus a consensus estimate of $836.15 million. In the same quarter last year, the company earned $0.93 per share.
A number of research companies commented on BYD. Susquehanna raised its price target on shares of Boyd Gaming from $74.00 to $79.00 in a Wednesday, April 27 report. Morgan Stanley downgraded shares of Boyd Gaming from an “overweight” rating to an “equal weight” rating and lowered its price target for the company from $82.00 to $76.00 in a Monday research report April 25. Susquehanna Bancshares upgraded shares of Boyd Gaming from ‘neutral’ to ‘positive’ and raised its price target for the company from $73.00 to $74.00 in a Tuesday research report April 26. Berenberg Bank began covering Boyd Gaming shares in a research report on Thursday, May 12. They issued a “buy” rating and a price target of $78.00 on the stock. Finally, StockNews.com upgraded shares of Boyd Gaming from a “buy” rating to a “strong buy” rating in a Friday, April 29 research report. One research analyst gave the stock a hold rating, seven gave the stock a buy rating and two gave the stock a strong buy rating. According to MarketBeat, Boyd Gaming currently has a consensus rating of “Buy” and a consensus target price of $81.75.
In other news, Manager Veronica J. Wilson sold 1,200 shares in a trade that took place on Monday, March 7. The shares were sold at an average price of $64.10, for a total value of $76,920.00. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Additionally, Vice Chairman William R. Boyd sold 20,000 shares of the company in a trade that took place on Wednesday, May 18. The stock was sold at an average price of $53.74, for a total transaction of $1,074,800.00. As a result of the sale, the vice president now owns 2,056,522 shares of the company, valued at approximately $110,517,492.28. The disclosure of this sale can be found here. Insiders sold a total of 85,890 shares of the company worth $4,706,436 in the past 90 days. Insiders of the company own 27.94% of the shares of the company.
Several hedge funds have recently increased or reduced their holdings in the stock. Toroso Investments LLC purchased a new stake in shares of Boyd Gaming during the first quarter worth approximately $203,000. BNP Paribas Arbitrage SA increased its stake in Boyd Gaming shares by 204.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 130,275 shares of the company worth $8,569,000 after purchasing an additional 87,480 shares during the period. Penn Capital Management Company LLC increased its stake in shares of Boyd Gaming by 2.3% during the 1st quarter. Penn Capital Management Company LLC now owns 136,298 shares of the company worth $9,263,000 after purchasing 3,115 additional shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Boyd Gaming during Q1 worth approximately $1,395,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Boyd Gaming during Q1 worth approximately $684,000. Hedge funds and other institutional investors hold 70.27% of the company’s shares.
NYSE:BYD opened at $59.33 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt ratio of 1.93. The stock has a market capitalization of $6.50 billion, a price-earnings ratio of 12.84 and a beta of 1.90. The company has a fifty-day simple moving average of $61.28 and a two-hundred-day simple moving average of $62.68. Boyd Gaming has a 12 month minimum of $50.38 and a 12 month maximum of $72.72.
The company also recently disclosed a variable dividend, which was paid on Wednesday, April 27. Shareholders of record on Thursday, March 31 received a dividend of $0.144. The ex-dividend date was Wednesday, March 30. Boyd Gaming’s dividend payout ratio (DPR) is currently 6.28%.
Boyd Gaming Company Profile (Get a 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.
Get a Free Copy of Zacks Research Report on Boyd Gaming (BYD)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Boyd Gaming right now?
Before you consider Boyd Gaming, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Boyd Gaming wasn’t on the list.
While Boyd Gaming currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here