Wall Street analysts forecast that Boyd Gaming Co. (NYSE:BYD) will announce $777.50 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Boyd Gaming’s earnings, with the lowest sales estimate coming in at $766.30 million and the highest estimate coming in at $789.40 million. Boyd Gaming reported sales of $590.83 million during the same quarter last year, which would suggest a positive year over year growth rate of 31.6%. The company is scheduled to announce its next quarterly earnings results on Tuesday, February 19th.

According to Zacks, analysts expect that Boyd Gaming will report full-year sales of $2.61 billion for the current financial year, with estimates ranging from $2.60 billion to $2.62 billion. For the next fiscal year, analysts anticipate that the company will post sales of $3.33 billion, with estimates ranging from $3.27 billion to $3.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Boyd Gaming.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, October 25th. The company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. Boyd Gaming had a net margin of 7.19% and a return on equity of 12.53%. The company had revenue of $612.20 million for the quarter, compared to analyst estimates of $607.60 million.

BYD has been the topic of several recent research reports. ValuEngine lowered shares of Boyd Gaming from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Desjardins assumed coverage on shares of Boyd Gaming in a research report on Friday, October 19th. They issued a “buy” rating for the company. Bank of America reiterated a “buy” rating and issued a $37.00 price objective on shares of Boyd Gaming in a research report on Tuesday, October 16th. Zacks Investment Research reiterated a “hold” rating and issued a $28.00 price objective on shares of Boyd Gaming in a research report on Monday, November 12th. Finally, Morgan Stanley set a $35.00 price objective on shares of Boyd Gaming and gave the stock a “hold” rating in a research report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $38.67.

In related news, VP William R. Boyd sold 100,000 shares of the company’s stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $24.19, for a total transaction of $2,419,000.00. Following the completion of the transaction, the vice president now owns 23,505 shares in the company, valued at approximately $568,585.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 28.88% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BYD. Bank of America Corp DE raised its position in shares of Boyd Gaming by 142.1% during the 2nd quarter. Bank of America Corp DE now owns 1,344,703 shares of the company’s stock worth $46,608,000 after purchasing an additional 789,296 shares during the last quarter. BlackRock Inc. raised its position in shares of Boyd Gaming by 7.7% during the 2nd quarter. BlackRock Inc. now owns 9,407,833 shares of the company’s stock worth $326,077,000 after purchasing an additional 670,588 shares during the last quarter. FMR LLC raised its position in shares of Boyd Gaming by 10.9% during the 3rd quarter. FMR LLC now owns 5,199,373 shares of the company’s stock worth $176,000,000 after purchasing an additional 509,885 shares during the last quarter. Valinor Management L.P. raised its position in shares of Boyd Gaming by 24.7% during the 3rd quarter. Valinor Management L.P. now owns 2,555,300 shares of the company’s stock worth $86,497,000 after purchasing an additional 505,600 shares during the last quarter. Finally, Waddell & Reed Financial Inc. acquired a new position in shares of Boyd Gaming during the 2nd quarter worth about $13,205,000. Hedge funds and other institutional investors own 71.87% of the company’s stock.

NYSE:BYD traded down $0.08 during mid-day trading on Friday, hitting $23.92. The company’s stock had a trading volume of 1,383,774 shares, compared to its average volume of 1,482,825. Boyd Gaming has a 1 year low of $22.30 and a 1 year high of $40.44. The company has a debt-to-equity ratio of 3.09, a quick ratio of 1.33 and a current ratio of 1.37. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 1.20 and a beta of 1.95.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Friday, December 28th will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.00%. Boyd Gaming’s dividend payout ratio (DPR) is currently 23.30%.

Boyd Gaming declared that its Board of Directors has authorized a share repurchase program on Wednesday, December 12th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 3.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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 and South. As of October 15, 2018, the company operated 29 gaming entertainment properties offering a total of 1.76 million square feet of casino space, approximately 38,000 gaming machines, 900 table games, 11,000 hotel rooms, and 320 food and beverage outlets located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

Featured Story: What are the Different Types of Leveraged Buyouts?

Get a free copy of the Zacks research report on Boyd Gaming (BYD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Boyd Gaming (NYSE:BYD)

Receive News & Ratings for Boyd Gaming Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boyd Gaming and related companies with MarketBeat.com's FREE daily email newsletter.