Equities research analysts forecast that Boyd Gaming Co. (NYSE:BYD) will announce sales of $603.65 million for the current quarter, according to Zacks. Five analysts have provided estimates for Boyd Gaming’s earnings, with the highest sales estimate coming in at $615.90 million and the lowest estimate coming in at $595.80 million. Boyd Gaming posted sales of $587.67 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2.7%. The company is expected to issue its next earnings report 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 fiscal year, analysts forecast that the company will post sales of $2.48 billion per share, with estimates ranging from $2.47 billion to $2.49 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Boyd Gaming.
Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, July 26th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Boyd Gaming had a net margin of 7.72% and a return on equity of 12.73%. The company had revenue of $616.80 million for the quarter, compared to analysts’ expectations of $608.94 million. During the same quarter in the previous year, the company earned $0.26 EPS. Boyd Gaming’s revenue for the quarter was up 2.1% on a year-over-year basis.
Several analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Boyd Gaming from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 26th. ValuEngine cut shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 8th. Zacks Investment Research cut shares of Boyd Gaming from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Boyd Gaming from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Finally, Jefferies Financial Group set a $42.00 price target on shares of Boyd Gaming and gave the stock a “hold” rating in a research note on Friday, July 27th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $40.75.
In other news, VP William R. Boyd sold 7,000 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $37.00, for a total value of $259,000.00. Following the sale, the vice president now directly owns 21,903 shares in the company, valued at approximately $810,411. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Marianne Boyd Johnson sold 2,907 shares of the business’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $37.01, for a total transaction of $107,588.07. Following the completion of the sale, the insider now owns 231,173 shares in the company, valued at $8,555,712.73. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,000 shares of company stock worth $2,428,514. Corporate insiders own 28.88% of the company’s stock.
Several institutional investors have recently bought and sold shares of BYD. PointState Capital LP bought a new stake in shares of Boyd Gaming in the 1st quarter worth about $29,611,000. Bank of America Corp DE increased its holdings in shares of Boyd Gaming by 142.1% in the 2nd quarter. Bank of America Corp DE now owns 1,344,703 shares of the company’s stock worth $46,608,000 after buying an additional 789,296 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Boyd Gaming by 7.7% in the 2nd quarter. BlackRock Inc. now owns 9,407,833 shares of the company’s stock worth $326,077,000 after buying an additional 670,588 shares during the last quarter. Sound Point Capital Management LP bought a new stake in shares of Boyd Gaming in the 1st quarter worth about $13,678,000. Finally, Waddell & Reed Financial Inc. bought a new stake in shares of Boyd Gaming in the 2nd quarter worth about $13,205,000. Hedge funds and other institutional investors own 72.53% of the company’s stock.
Shares of BYD traded down $1.52 during trading hours on Friday, reaching $32.97. 1,772,200 shares of the stock traded hands, compared to its average volume of 1,385,890. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 32.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.62. Boyd Gaming has a 52-week low of $24.52 and a 52-week high of $40.44. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.99 and a current ratio of 2.03.
Boyd Gaming Company Profile
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.
Featured Story: Asset Allocation
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.