$0.24 EPS Expected for Boyd Gaming Co. (BYD) This Quarter

Wall Street brokerages expect Boyd Gaming Co. (NYSE:BYD) to announce $0.24 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have made estimates for Boyd Gaming’s earnings, with estimates ranging from $0.18 to $0.35. Boyd Gaming posted earnings per share of $0.22 during the same quarter last year, which indicates a positive year-over-year growth rate of 9.1%. The company is expected to report its next quarterly earnings results on Thursday, October 25th.

According to Zacks, analysts expect that Boyd Gaming will report full year earnings of $1.28 per share for the current financial year, with EPS estimates ranging from $1.21 to $1.35. For the next financial year, analysts expect that the business will report earnings of $1.57 per share, with EPS estimates ranging from $1.42 to $1.94. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Boyd Gaming.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, July 26th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $616.80 million for the quarter, compared to analyst estimates of $608.94 million. Boyd Gaming had a return on equity of 12.73% and a net margin of 7.72%. Boyd Gaming’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS.

Several analysts have recently issued reports on the company. Zacks Investment Research lowered Boyd Gaming from a “buy” rating to a “hold” rating in a report on Monday, July 30th. JPMorgan Chase & Co. increased their target price on Boyd Gaming from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Telsey Advisory Group reduced their target price on Boyd Gaming from $36.00 to $32.00 and set a “market perform” rating on the stock in a report on Friday, April 27th. ValuEngine raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Finally, Barclays raised Boyd Gaming from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $33.00 to $40.00 in a report on Tuesday, May 1st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Boyd Gaming presently has an average rating of “Buy” and an average price target of $40.75.

Several hedge funds have recently made changes to their positions in the stock. Glenmede Trust Co. NA lifted its position in shares of Boyd Gaming by 14.2% during the 2nd quarter. Glenmede Trust Co. NA now owns 1,307,248 shares of the company’s stock worth $45,310,000 after buying an additional 162,154 shares during the last quarter. Millennium Management LLC lifted its position in shares of Boyd Gaming by 15.9% during the 2nd quarter. Millennium Management LLC now owns 1,486,709 shares of the company’s stock worth $51,529,000 after buying an additional 203,895 shares during the last quarter. Waddell & Reed Financial Inc. bought a new stake in shares of Boyd Gaming during the 2nd quarter worth $13,205,000. Centaurus Financial Inc. bought a new stake in shares of Boyd Gaming during the 2nd quarter worth $203,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Boyd Gaming during the 2nd quarter worth $130,000. Institutional investors and hedge funds own 73.63% of the company’s stock.

BYD opened at $35.18 on Monday. The firm has a market cap of $3.94 billion, a PE ratio of 34.16 and a beta of 1.69. Boyd Gaming has a 52-week low of $24.52 and a 52-week high of $40.44. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 3.05.

Boyd Gaming Company Profile

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 and South. As of December 31, 2017, the company owned and operated 24 gaming entertainment properties offering a total of 1,358,856 square feet of casino space, 30,267 slot machines, 632 table games, and 9,372 hotel rooms located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, and Mississippi.

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