$837.47 Million in Sales Expected for Boyd Gaming Co. (NYSE:BYD) This Quarter

Analysts forecast that Boyd Gaming Co. (NYSE:BYDGet Rating) will announce sales of $837.47 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Boyd Gaming’s earnings, with estimates ranging from $829.20 million to $849.27 million. Boyd Gaming reported sales of $753.31 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.2%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Boyd Gaming will report full-year sales of $3.45 billion for the current fiscal year, with estimates ranging from $3.34 billion to $3.49 billion. For the next financial year, analysts forecast that the company will report sales of $3.54 billion, with estimates ranging from $3.34 billion to $3.65 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Boyd Gaming.

Boyd Gaming (NYSE:BYDGet Rating) last posted its quarterly earnings results on Thursday, February 3rd. The company reported $1.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.11. The company had revenue of $879.84 million for the quarter, compared to the consensus estimate of $754.16 million. Boyd Gaming had a return on equity of 41.46% and a net margin of 13.77%. During the same quarter in the prior year, the business posted $0.46 EPS.

A number of research analysts have recently weighed in on BYD shares. Morgan Stanley cut their price target on Boyd Gaming from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Friday, February 4th. StockNews.com started coverage on Boyd Gaming in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $84.17.

Shares of BYD stock traded up $1.87 during trading hours on Friday, reaching $65.03. The company had a trading volume of 17,497 shares, compared to its average volume of 1,192,306. The company has a 50 day moving average of $66.58 and a 200 day moving average of $64.11. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.91 and a quick ratio of 0.88. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 0.25 and a beta of 1.97. Boyd Gaming has a 1-year low of $50.38 and a 1-year high of $72.72.

The firm also recently disclosed a Variable dividend, which will be paid on Wednesday, April 27th. Investors of record on Thursday, March 31st will be paid a dividend of $0.144 per share. The ex-dividend date is Wednesday, March 30th. Boyd Gaming’s payout ratio is presently 7.13%.

In other Boyd Gaming news, Director Veronica J. Wilson sold 1,200 shares of Boyd Gaming stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $64.10, for a total value of $76,920.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 28.41% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Frontier Capital Management Co. LLC raised its stake in shares of Boyd Gaming by 68.3% in the 1st quarter. Frontier Capital Management Co. LLC now owns 294,683 shares of the company’s stock valued at $19,384,000 after purchasing an additional 119,567 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Boyd Gaming by 214.1% in the 1st quarter. State of Alaska Department of Revenue now owns 43,055 shares of the company’s stock valued at $2,831,000 after purchasing an additional 29,349 shares during the period. Bowling Portfolio Management LLC bought a new position in shares of Boyd Gaming in the 1st quarter valued at about $1,551,000. CHURCHILL MANAGEMENT Corp bought a new position in shares of Boyd Gaming in the 1st quarter valued at about $5,098,000. Finally, Fulton Bank N.A. bought a new position in shares of Boyd Gaming in the 1st quarter valued at about $292,000. 66.84% of the stock is currently owned by hedge funds and other institutional investors.

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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