Brokerages expect that Boyd Gaming Co. (NYSE:BYD) will announce $603.65 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Boyd Gaming’s earnings. The lowest sales estimate is $595.80 million and the highest is $615.90 million. Boyd Gaming posted sales of $587.67 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.7%. The business is scheduled to report its next earnings results on Thursday, October 25th.
On average, analysts expect that Boyd Gaming will report full year sales of $2.43 billion for the current fiscal year, with estimates ranging from $2.43 billion to $2.44 billion. For the next financial year, analysts forecast that the firm will report sales of $2.48 billion per share, with estimates ranging from $2.47 billion to $2.49 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Boyd Gaming.
Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 26th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Boyd Gaming had a net margin of 7.72% and a return on equity of 12.73%. The firm had revenue of $616.80 million during the quarter, compared to analysts’ expectations of $608.94 million. During the same quarter in the prior year, the firm earned $0.26 EPS. Boyd Gaming’s quarterly revenue was up 2.1% on a year-over-year basis.
BYD has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Monday, July 16th. Jefferies Financial Group upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Tuesday. Telsey Advisory Group decreased their target price on shares of Boyd Gaming from $36.00 to $32.00 and set a “market perform” rating for the company in a research report on Friday, April 27th. ValuEngine upgraded shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Finally, Barclays upgraded shares of Boyd Gaming from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $33.00 to $40.00 in a research report on Tuesday, May 1st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $40.75.
NYSE BYD traded up $0.14 on Wednesday, hitting $35.80. The stock had a trading volume of 671,584 shares, compared to its average volume of 1,419,105. Boyd Gaming has a one year low of $24.52 and a one year high of $40.44. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 3.05. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 34.76 and a beta of 1.69.
Several large investors have recently modified their holdings of the company. Glenmede Trust Co. NA lifted its stake in shares of Boyd Gaming by 14.2% in the 2nd quarter. Glenmede Trust Co. NA now owns 1,307,248 shares of the company’s stock worth $45,310,000 after acquiring an additional 162,154 shares during the period. Millennium Management LLC lifted its stake in shares of Boyd Gaming by 15.9% in the 2nd quarter. Millennium Management LLC now owns 1,486,709 shares of the company’s stock worth $51,529,000 after acquiring an additional 203,895 shares during the period. Waddell & Reed Financial Inc. acquired a new stake in shares of Boyd Gaming in the 2nd quarter worth approximately $13,205,000. Centaurus Financial Inc. acquired a new stake in shares of Boyd Gaming in the 2nd quarter worth approximately $203,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Boyd Gaming in the 2nd quarter worth approximately $130,000. 73.63% of the stock is owned by 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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