Brokerages Expect Boyd Gaming Corporation (BYD) to Announce $0.22 EPS
Analysts expect Boyd Gaming Corporation (NYSE:BYD) to report $0.22 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have issued estimates for Boyd Gaming Corporation’s earnings, with the highest EPS estimate coming in at $0.25 and the lowest estimate coming in at $0.18. Boyd Gaming Corporation reported earnings per share of $0.14 in the same quarter last year, which indicates a positive year over year growth rate of 57.1%. The company is scheduled to announce its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Boyd Gaming Corporation will report full-year earnings of $1.08 per share for the current fiscal year, with EPS estimates ranging from $1.00 to $1.12. For the next fiscal year, analysts expect that the business will report earnings of $1.34 per share, with EPS estimates ranging from $1.15 to $1.49. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow Boyd Gaming Corporation.
Boyd Gaming Corporation (NYSE:BYD) last issued its earnings results on Thursday, July 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.04). The company had revenue of $599.87 million for the quarter, compared to analysts’ expectations of $602.39 million. Boyd Gaming Corporation had a net margin of 19.15% and a return on equity of 13.31%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share.
A number of brokerages recently issued reports on BYD. Zacks Investment Research downgraded Boyd Gaming Corporation from a “buy” rating to a “hold” rating in a research report on Thursday. ValuEngine downgraded Boyd Gaming Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub raised Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Barclays PLC raised their price objective on Boyd Gaming Corporation from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 1st. Finally, Deutsche Bank AG reissued a “buy” rating and set a $29.00 price objective (down from $30.00) on shares of Boyd Gaming Corporation in a research report on Sunday, July 30th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $26.93.
In other news, Director John Robert Bailey bought 10,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was bought at an average cost of $25.33 per share, with a total value of $253,300.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, VP William R. Boyd sold 7,000 shares of Boyd Gaming Corporation stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $26.71, for a total value of $186,970.00. Following the completion of the transaction, the vice president now directly owns 1,251 shares of the company’s stock, valued at $33,414.21. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,531 shares of company stock valued at $3,447,521. 29.16% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Seven Eight Capital LP acquired a new position in Boyd Gaming Corporation in the 2nd quarter valued at about $154,000. Ameritas Investment Partners Inc. acquired a new position in Boyd Gaming Corporation in the 1st quarter valued at about $157,000. Oppenheimer Asset Management Inc. acquired a new position in Boyd Gaming Corporation in the 1st quarter valued at about $161,000. Victory Capital Management Inc. purchased a new position in shares of Boyd Gaming Corporation in the 1st quarter valued at about $175,000. Finally, Zacks Investment Management purchased a new position in shares of Boyd Gaming Corporation in the 2nd quarter valued at about $202,000. 74.66% of the stock is owned by institutional investors.
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Shares of Boyd Gaming Corporation (NYSE:BYD) opened at 27.62 on Friday. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 7.30 and a beta of 1.87. The stock’s 50 day moving average is $26.12 and its 200-day moving average is $24.78. Boyd Gaming Corporation has a 52 week low of $16.77 and a 52 week high of $27.98.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Friday, September 15th. Boyd Gaming Corporation’s dividend payout ratio is currently 5.25%.
About Boyd Gaming Corporation
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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