Zacks: Brokerages Expect Boyd Gaming Co. (BYD) to Post $0.23 EPS

Brokerages expect Boyd Gaming Co. (NYSE:BYD) to post $0.23 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Boyd Gaming’s earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.18. Boyd Gaming reported earnings per share of $0.22 during the same quarter last year, which would suggest a positive year over year growth rate of 4.5%. The business is expected to announce its next quarterly earnings results after the market closes on Thursday, October 25th.

On average, analysts expect that Boyd Gaming will report full-year earnings of $1.44 per share for the current year, with EPS estimates ranging from $1.39 to $1.49. For the next fiscal year, analysts forecast that the firm will post earnings of $2.05 per share, with EPS estimates ranging from $1.86 to $2.30. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow Boyd Gaming.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, July 26th. The company reported $0.38 earnings per share (EPS) for the quarter, beating 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 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 earnings per share. Boyd Gaming’s quarterly revenue was up 2.1% on a year-over-year basis.

BYD has been the topic of several research analyst reports. ValuEngine cut shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 8th. Jefferies Financial Group set a $42.00 price target on shares of Boyd Gaming and gave the company a “hold” rating in a research report on Friday, July 27th. Zacks Investment Research upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Monday, July 16th. Morgan Stanley boosted their price target on shares of Boyd Gaming from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 26th. Finally, Desjardins initiated coverage on shares of Boyd Gaming in a research report on Friday. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $39.92.

Shares of NYSE BYD opened at $31.08 on Friday. Boyd Gaming has a 1 year low of $26.96 and a 1 year 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. The stock has a market cap of $3.70 billion, a P/E ratio of 30.17, a P/E/G ratio of 1.53 and a beta of 1.57.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.77%. The ex-dividend date was Thursday, September 27th. Boyd Gaming’s payout ratio is currently 23.30%.

In related news, insider Marianne Boyd Johnson sold 30,600 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $35.86, for a total transaction of $1,097,316.00. Following the sale, the insider now owns 231,173 shares of the company’s stock, valued at $8,289,863.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William R. Boyd sold 7,000 shares of the business’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $37.00, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 67,000 shares of company stock worth $2,428,514 in the last three months. 28.88% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Boyd Gaming by 7.7% during the second quarter. BlackRock Inc. now owns 9,407,833 shares of the company’s stock worth $326,077,000 after acquiring an additional 670,588 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Boyd Gaming in the second quarter worth approximately $570,000. Schwab Charles Investment Management Inc. lifted its stake in shares of Boyd Gaming by 5.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 565,136 shares of the company’s stock worth $19,588,000 after buying an additional 30,031 shares in the last quarter. Martingale Asset Management L P bought a new position in shares of Boyd Gaming in the second quarter worth approximately $927,000. Finally, Bank of America Corp DE lifted its stake in shares of Boyd Gaming by 142.1% in the second 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 in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

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.

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