Zacks: Brokerages Anticipate Boyd Gaming Co. (NYSE:BYD) Will Post Quarterly Sales of $830.48 Million

Analysts expect Boyd Gaming Co. (NYSE:BYD) to announce sales of $830.48 million for the current quarter, according to Zacks. Five analysts have provided estimates for Boyd Gaming’s earnings, with estimates ranging from $824.20 million to $839.96 million. Boyd Gaming reported sales of $612.20 million in the same quarter last year, which indicates a positive year-over-year growth rate of 35.7%. The company is scheduled to report its next quarterly earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Boyd Gaming will report full-year sales of $3.33 billion for the current fiscal year, with estimates ranging from $3.32 billion to $3.34 billion. For the next financial year, analysts anticipate that the company will report sales of $3.37 billion, with estimates ranging from $3.36 billion to $3.39 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Boyd Gaming.

Boyd Gaming (NYSE:BYD) last released its earnings results on Tuesday, July 30th. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.01). The firm had revenue of $846.13 million during the quarter, compared to analyst estimates of $839.64 million. Boyd Gaming had a net margin of 4.18% and a return on equity of 14.13%. The firm’s quarterly revenue was up 37.2% on a year-over-year basis. During the same period last year, the business posted $0.38 earnings per share.

Several research firms have recently issued reports on BYD. Morgan Stanley set a $34.00 price target on Boyd Gaming and gave the stock a “buy” rating in a research report on Friday, April 26th. Telsey Advisory Group raised Boyd Gaming from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $31.00 to $36.00 in a research report on Wednesday, July 31st. Desjardins raised Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. ValuEngine downgraded Boyd Gaming from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a $40.00 target price on shares of Boyd Gaming in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.22.

Several large investors have recently added to or reduced their stakes in BYD. State of Alaska Department of Revenue acquired a new position in Boyd Gaming during the first quarter worth approximately $46,000. Resources Investment Advisors LLC. bought a new stake in shares of Boyd Gaming during the second quarter worth approximately $48,000. NEXT Financial Group Inc bought a new stake in shares of Boyd Gaming during the second quarter worth approximately $67,000. Strs Ohio boosted its holdings in shares of Boyd Gaming by 400.0% during the first quarter. Strs Ohio now owns 3,000 shares of the company’s stock worth $82,000 after acquiring an additional 2,400 shares during the period. Finally, HWG Holdings LP bought a new stake in shares of Boyd Gaming during the first quarter worth approximately $89,000. 67.02% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE BYD traded down $0.84 during midday trading on Friday, hitting $22.70. The stock had a trading volume of 720,763 shares, compared to its average volume of 1,239,015. The company’s 50-day simple moving average is $25.56 and its 200 day simple moving average is $27.20. The firm has a market cap of $2.61 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 0.98 and a beta of 2.11. Boyd Gaming has a fifty-two week low of $18.98 and a fifty-two week high of $37.39. The company has a debt-to-equity ratio of 3.90, a current ratio of 0.75 and a quick ratio of 0.71.

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 & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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