$873.46 Million in Sales Expected for Boyd Gaming Co. (NYSE:BYD) This Quarter

Brokerages expect Boyd Gaming Co. (NYSE:BYDGet Rating) to announce $873.46 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Boyd Gaming’s earnings. The lowest sales estimate is $855.40 million and the highest is $910.70 million. Boyd Gaming posted sales of $893.60 million in the same quarter last year, which would indicate a negative year over year growth rate of 2.3%. The business is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Boyd Gaming will report full year sales of $3.47 billion for the current fiscal year, with estimates ranging from $3.41 billion to $3.57 billion. For the next fiscal year, analysts forecast that the business will post sales of $3.55 billion, with estimates ranging from $3.42 billion to $3.68 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Boyd Gaming.

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

Several brokerages recently commented on BYD. Susquehanna increased their price objective on shares of Boyd Gaming from $74.00 to $79.00 in a research note on Wednesday, April 27th. StockNews.com raised shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 29th. Berenberg Bank assumed coverage on shares of Boyd Gaming in a research report on Thursday. They issued a “buy” rating and a $78.00 price target for the company. Morgan Stanley cut shares of Boyd Gaming from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $82.00 to $76.00 in a research report on Monday, April 25th. Finally, Susquehanna Bancshares upgraded shares of Boyd Gaming from a “neutral” rating to a “positive” rating and upped their price target for the company from $73.00 to $74.00 in a research report on Tuesday, April 26th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Boyd Gaming currently has an average 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 on Monday, March 7th. The shares were sold at an average price of $64.10, for a total transaction of $76,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 27.94% of the company’s stock.

A number of large investors have recently bought and sold shares of BYD. First Horizon Advisors Inc. grew its holdings in Boyd Gaming by 100.0% in the third quarter. First Horizon Advisors Inc. now owns 452 shares of the company’s stock worth $26,000 after purchasing an additional 226 shares during the period. Whittier Trust Co. acquired a new stake in Boyd Gaming in the first quarter worth $27,000. Prospera Financial Services Inc acquired a new stake in Boyd Gaming in the first quarter worth $33,000. Byrne Asset Management LLC acquired a new stake in Boyd Gaming in the fourth quarter worth $34,000. Finally, Global Wealth Management Investment Advisory Inc. acquired a new stake in Boyd Gaming in the third quarter worth $40,000. Institutional investors and hedge funds own 70.27% of the company’s stock.

NYSE:BYD traded up $2.49 on Friday, hitting $56.50. The company had a trading volume of 904,981 shares, compared to its average volume of 1,034,539. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 12.23 and a beta of 1.90. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 1.93. The firm has a 50 day moving average of $63.30 and a two-hundred day moving average of $63.33. Boyd Gaming has a 52 week low of $50.38 and a 52 week high of $72.72.

The company also recently disclosed a Variable dividend, which was paid on Wednesday, April 27th. Stockholders of record on Thursday, March 31st were given a dividend of $0.144 per share. 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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