Brokerages Anticipate Boyd Gaming Co. (BYD) Will Announce Earnings of $0.34 Per Share

Analysts forecast that Boyd Gaming Co. (NYSE:BYD) will announce earnings per share (EPS) of $0.34 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Boyd Gaming’s earnings, with estimates ranging from $0.31 to $0.40. Boyd Gaming reported earnings of $0.32 per share in the same quarter last year, which indicates a positive year over year growth rate of 6.3%. The business is expected to issue its next quarterly earnings report on Tuesday, May 1st.

According to Zacks, analysts expect that Boyd Gaming will report full year earnings of $1.25 per share for the current fiscal year, with EPS estimates ranging from $1.13 to $1.45. For the next financial year, analysts anticipate that the firm will post earnings of $1.61 per share, with EPS estimates ranging from $1.41 to $1.88. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Boyd Gaming.

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Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.04). Boyd Gaming had a return on equity of 11.47% and a net margin of 7.94%. The firm had revenue of $590.83 million for the quarter, compared to the consensus estimate of $595.28 million. During the same period last year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis.

A number of research firms have recently weighed in on BYD. Zacks Investment Research lowered Boyd Gaming from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Stifel Nicolaus reissued a “hold” rating on shares of Boyd Gaming in a research note on Thursday, December 21st. Nomura boosted their target price on Boyd Gaming to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Barclays reissued an “equal weight” rating and issued a $33.00 target price (down previously from $35.00) on shares of Boyd Gaming in a research note on Wednesday, February 21st. Finally, ValuEngine raised Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Boyd Gaming presently has a consensus rating of “Buy” and a consensus target price of $35.81.

In related news, VP William R. Boyd sold 7,528 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $35.23, for a total transaction of $265,211.44. Following the transaction, the vice president now owns 3,714 shares in the company, valued at approximately $130,844.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen S. Thompson sold 24,906 shares of the business’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $33.55, for a total value of $835,596.30. Following the transaction, the insider now owns 53,354 shares in the company, valued at approximately $1,790,026.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 328,294 shares of company stock worth $11,448,808. 28.88% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the business. MetLife Investment Advisors LLC purchased a new position in shares of Boyd Gaming during the 4th quarter worth approximately $1,291,000. Gotham Asset Management LLC grew its holdings in shares of Boyd Gaming by 45.7% during the 4th quarter. Gotham Asset Management LLC now owns 553,327 shares of the company’s stock worth $19,394,000 after acquiring an additional 173,625 shares during the period. Pacific Grove Capital LP purchased a new position in shares of Boyd Gaming during the 4th quarter worth approximately $3,222,000. Municipal Employees Retirement System of Michigan grew its holdings in shares of Boyd Gaming by 4.5% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 36,320 shares of the company’s stock worth $1,273,000 after acquiring an additional 1,560 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Boyd Gaming by 108.7% during the 4th quarter. Millennium Management LLC now owns 1,441,205 shares of the company’s stock worth $50,514,000 after acquiring an additional 750,610 shares during the period. Hedge funds and other institutional investors own 74.76% of the company’s stock.

BYD stock traded up $0.64 during mid-day trading on Friday, hitting $35.04. 1,410,783 shares of the stock were exchanged, compared to its average volume of 1,672,500. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 2.77. Boyd Gaming has a 12 month low of $22.17 and a 12 month high of $40.44. The firm has a market cap of $3,817.39, a P/E ratio of 34.11 and a beta of 1.87.

The firm also recently declared a quarterly dividend, which was paid on Sunday, April 15th. Investors of record on Friday, March 16th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date was Thursday, March 15th. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.05. Boyd Gaming’s payout ratio is currently 19.42%.

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About Boyd Gaming

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

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