Zacks: Analysts Expect Boyd Gaming Corporation (BYD) to Post $0.26 EPS

Wall Street analysts predict that Boyd Gaming Corporation (NYSE:BYD) will post earnings per share of $0.26 for the current quarter, Zacks reports. Five analysts have provided estimates for Boyd Gaming Corporation’s earnings, with the lowest EPS estimate coming in at $0.21 and the highest estimate coming in at $0.29. Boyd Gaming Corporation reported earnings per share of $0.38 during the same quarter last year, which suggests a negative year-over-year growth rate of 31.6%. The firm is expected to report its next earnings report on Tuesday, February 13th.

According to Zacks, analysts expect that Boyd Gaming Corporation will report full year earnings of $1.06 per share for the current fiscal year, with EPS estimates ranging from $1.00 to $1.12. For the next financial year, analysts forecast that the business will report earnings of $1.34 per share, with EPS estimates ranging from $1.15 to $1.49. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Boyd Gaming Corporation.

Boyd Gaming Corporation (NYSE:BYD) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The firm had revenue of $587.70 million for the quarter, compared to analysts’ expectations of $592.29 million. Boyd Gaming Corporation had a net margin of 5.08% and a return on equity of 14.01%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS.

A number of analysts have weighed in on the company. Stifel Nicolaus raised their price target on Boyd Gaming Corporation from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Friday. Zacks Investment Research raised Boyd Gaming Corporation from a “sell” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Friday, July 14th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $27.00 price objective on shares of Boyd Gaming Corporation in a report on Tuesday. BidaskClub raised Boyd Gaming Corporation from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Finally, ValuEngine lowered Boyd Gaming Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $27.47.

In related news, Director Robert L. Boughner sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.70, for a total transaction of $1,068,000.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at $1,068,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider William S. Boyd sold 76,531 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $25.18, for a total value of $1,927,050.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,531 shares of company stock worth $3,447,521. Corporate insiders own 29.16% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. grew its holdings in shares of Boyd Gaming Corporation by 441.4% during the second quarter. Marshall Wace North America L.P. now owns 230,849 shares of the company’s stock worth $5,771,000 after buying an additional 188,208 shares during the last quarter. DSAM Partners London Ltd purchased a new position in shares of Boyd Gaming Corporation during the second quarter worth about $2,059,000. Schwab Charles Investment Management Inc. grew its holdings in shares of Boyd Gaming Corporation by 15.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 441,350 shares of the company’s stock worth $9,715,000 after buying an additional 58,537 shares during the last quarter. Cipher Capital LP grew its holdings in shares of Boyd Gaming Corporation by 16.1% during the second quarter. Cipher Capital LP now owns 127,405 shares of the company’s stock worth $3,161,000 after buying an additional 17,635 shares during the last quarter. Finally, Zweig DiMenna Associates LLC purchased a new position in shares of Boyd Gaming Corporation during the second quarter worth about $4,385,000. 74.72% of the stock is currently owned by hedge funds and other institutional investors.

Boyd Gaming Corporation (NYSE:BYD) traded up 6.59% during mid-day trading on Wednesday, reaching $29.11. The company’s stock had a trading volume of 2,814,144 shares. The firm has a market cap of $3.28 billion, a PE ratio of 7.69 and a beta of 1.87. The stock’s 50 day moving average is $26.78 and its 200 day moving average is $25.44. Boyd Gaming Corporation has a one year low of $16.77 and a one year high of $29.89.

The business also recently declared a quarterly dividend, which was paid on Sunday, October 15th. Investors of record on Monday, September 18th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Friday, September 15th. Boyd Gaming Corporation’s dividend payout ratio is currently 19.23%.

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About Boyd Gaming Corporation

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 Corporation (NYSE:BYD)

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