Boyd Gaming Co. (NYSE:BYD) Expected to Post Quarterly Sales of $873.46 Million

Wall Street brokerages predict that Boyd Gaming Co. (NYSE:BYDGet Rating) will post sales of $873.46 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Boyd Gaming’s earnings, with the highest sales estimate coming in at $910.70 million and the lowest estimate coming in at $855.40 million. Boyd Gaming posted sales of $893.60 million during the same quarter last year, which would suggest a negative year over year growth rate of 2.3%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Boyd Gaming will report full year sales of $3.47 billion for the current financial year, with estimates ranging from $3.41 billion to $3.57 billion. For the next fiscal year, analysts expect that the business will report sales of $3.55 billion, with estimates ranging from $3.42 billion to $3.68 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Boyd Gaming.

Boyd Gaming (NYSE:BYDGet Rating) last released its quarterly earnings results on Tuesday, April 26th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.16. Boyd Gaming had a net margin of 15.09% and a return on equity of 42.72%. The firm had revenue of $860.74 million during the quarter, compared to the consensus estimate of $836.15 million. During the same quarter last year, the firm earned $0.93 earnings per share.

A number of research firms have commented on BYD. Susquehanna raised their price target on shares of Boyd Gaming from $74.00 to $79.00 in a report on Wednesday, April 27th. Morgan Stanley lowered shares of Boyd Gaming from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $82.00 to $76.00 in a research report on Monday, April 25th. Susquehanna Bancshares raised shares of Boyd Gaming from a “neutral” rating to a “positive” rating and raised their price target for the company from $73.00 to $74.00 in a research report on Tuesday, April 26th. Berenberg Bank started coverage on shares of Boyd Gaming in a research report on Thursday, May 12th. They issued a “buy” rating and a $78.00 price objective on the stock. Finally, StockNews.com raised shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 29th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Boyd Gaming currently has a consensus rating of “Buy” and a consensus target price of $81.75.

In other news, Director Veronica J. Wilson sold 1,200 shares of the stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $64.10, for a total value of $76,920.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP William R. Boyd sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $53.74, for a total transaction of $1,074,800.00. Following the sale, the vice president now owns 2,056,522 shares in the company, valued at approximately $110,517,492.28. The disclosure for this sale can be found here. Insiders sold a total of 85,890 shares of company stock valued at $4,706,436 over the last 90 days. Company insiders own 27.94% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Toroso Investments LLC purchased a new stake in shares of Boyd Gaming during the first quarter worth about $203,000. BNP Paribas Arbitrage SA raised its stake in shares of Boyd Gaming by 204.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 130,275 shares of the company’s stock worth $8,569,000 after buying an additional 87,480 shares during the period. Penn Capital Management Company LLC raised its stake in shares of Boyd Gaming by 2.3% during the 1st quarter. Penn Capital Management Company LLC now owns 136,298 shares of the company’s stock worth $9,263,000 after buying an additional 3,115 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Boyd Gaming during the 1st quarter worth approximately $1,395,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Boyd Gaming during the 1st quarter worth approximately $684,000. Hedge funds and other institutional investors own 70.27% of the company’s stock.

NYSE:BYD opened at $59.33 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 1.93. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 12.84 and a beta of 1.90. The firm has a fifty day simple moving average of $61.28 and a two-hundred day simple moving average of $62.68. Boyd Gaming has a 12 month low of $50.38 and a 12 month high of $72.72.

The business also recently disclosed a Variable dividend, which was paid on Wednesday, April 27th. Shareholders of record on Thursday, March 31st were issued a $0.144 dividend. The ex-dividend date of this dividend was Wednesday, March 30th. Boyd Gaming’s dividend payout ratio (DPR) is presently 6.28%.

Boyd Gaming Company Profile (Get Rating)

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 December 31, 2021, the company operated 28 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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