Boyd Gaming Co. (NYSE:BYD) – Analysts at SunTrust Banks dropped their Q3 2018 earnings per share estimates for shares of Boyd Gaming in a research note issued to investors on Wednesday, August 15th. SunTrust Banks analyst P. Scholes now anticipates that the company will post earnings of $0.18 per share for the quarter, down from their previous estimate of $0.23.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, July 26th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. Boyd Gaming had a return on equity of 12.73% and a net margin of 7.72%. The business had revenue of $616.80 million for the quarter, compared to analyst estimates of $608.94 million. During the same quarter last year, the firm earned $0.26 EPS. Boyd Gaming’s revenue for the quarter was up 2.1% compared to the same quarter last year.

BYD has been the topic of a number of other research reports. Zacks Investment Research lowered Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. JPMorgan Chase & Co. lifted their target price on Boyd Gaming from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Telsey Advisory Group dropped their target price on Boyd Gaming from $36.00 to $32.00 and set a “market perform” rating on the stock in a research report on Friday, April 27th. ValuEngine raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Finally, Barclays raised Boyd Gaming from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $33.00 to $40.00 in a research report on Tuesday, May 1st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Boyd Gaming presently has a consensus rating of “Buy” and a consensus price target of $40.75.

Shares of Boyd Gaming stock opened at $35.80 on Thursday. Boyd Gaming has a 52-week low of $24.52 and a 52-week high of $40.44. The company has a market capitalization of $3.94 billion, a P/E ratio of 34.83 and a beta of 1.69. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 3.05.

Several large investors have recently bought and sold shares of BYD. PointState Capital LP acquired a new position in shares of Boyd Gaming during the 1st quarter worth approximately $29,611,000. Bank of America Corp DE increased 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. increased 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. Sound Point Capital Management LP acquired a new position in shares of Boyd Gaming during the 1st quarter worth approximately $13,678,000. Finally, Waddell & Reed Financial Inc. acquired a new position in shares of Boyd Gaming during the 2nd quarter worth approximately $13,205,000. 73.63% of the stock is currently owned by hedge funds and other institutional investors.

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 December 31, 2017, the company owned and operated 24 gaming entertainment properties offering a total of 1,358,856 square feet of casino space, 30,267 slot machines, 632 table games, and 9,372 hotel rooms located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, and Mississippi.

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

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