$843.09 Million in Sales Expected for Boyd Gaming Co. (BYD) This Quarter

Equities research analysts expect Boyd Gaming Co. (NYSE:BYD) to report sales of $843.09 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 $848.49 million and the lowest estimate coming in at $835.58 million. Boyd Gaming posted sales of $616.79 million in the same quarter last year, which would indicate a positive year over year growth rate of 36.7%. The firm is scheduled to report its next earnings report on Thursday, July 25th.

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 $3.31 billion to $3.35 billion. For the next financial year, analysts forecast that the business will report sales of $3.37 billion, with estimates ranging from $3.35 billion to $3.39 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Boyd Gaming.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.43 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. Boyd Gaming had a net margin of 4.18% and a return on equity of 13.57%. The business had revenue of $827.30 million for the quarter, compared to the consensus estimate of $826.52 million. During the same period in the prior year, the company posted $0.39 earnings per share. Boyd Gaming’s revenue was up 36.5% compared to the same quarter last year.

Several research firms recently weighed in on BYD. ValuEngine cut shares of Boyd Gaming from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Morgan Stanley set a $33.00 price objective on shares of Boyd Gaming and gave the stock a “buy” rating in a research report on Friday, February 22nd. Finally, TheStreet raised shares of Boyd Gaming from a “c+” rating to a “b” rating in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $34.88.

Shares of BYD stock traded up $0.38 on Friday, hitting $25.89. The company’s stock had a trading volume of 686,657 shares, compared to its average volume of 1,285,926. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.68 and a current ratio of 0.72. Boyd Gaming has a fifty-two week low of $18.98 and a fifty-two week high of $39.35. The company has a market capitalization of $2.87 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 0.73 and a beta of 2.09.

In related news, EVP Brian A. Larson sold 62,579 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.38, for a total transaction of $1,838,571.02. Following the completion of the sale, the executive vice president now owns 130,088 shares of the company’s stock, valued at $3,821,985.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Keith Smith sold 100,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $29.41, for a total transaction of $2,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,339,355 shares of the company’s stock, valued at approximately $39,390,430.55. The disclosure for this sale can be found here. Insiders have sold 166,579 shares of company stock valued at $4,893,971 in the last ninety days. 29.35% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in Boyd Gaming by 4.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,009,729 shares of the company’s stock valued at $34,180,000 after buying an additional 40,325 shares during the last quarter. Teachers Advisors LLC raised its holdings in Boyd Gaming by 2.6% in the 3rd quarter. Teachers Advisors LLC now owns 158,094 shares of the company’s stock valued at $5,351,000 after buying an additional 4,030 shares during the last quarter. Morgan Stanley raised its holdings in Boyd Gaming by 7.0% in the 3rd quarter. Morgan Stanley now owns 343,238 shares of the company’s stock valued at $11,618,000 after buying an additional 22,343 shares during the last quarter. Bowling Portfolio Management LLC bought a new position in Boyd Gaming in the 4th quarter valued at approximately $710,000. Finally, SignalPoint Asset Management LLC bought a new position in Boyd Gaming in the 4th quarter valued at approximately $527,000. 70.91% of the stock is owned by hedge funds and other 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 & 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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Earnings History and Estimates for Boyd Gaming (NYSE:BYD)

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