Brokerages forecast that Boyd Gaming Co. (NYSE:BYD) will report $842.22 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Boyd Gaming’s earnings, with estimates ranging from $834.80 million to $848.49 million. Boyd Gaming reported sales of $616.79 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 36.5%. The business is scheduled to report its next earnings report on Thursday, July 25th.

On average, analysts expect that Boyd Gaming will report full year sales of $3.33 billion for the current year, with estimates ranging from $3.32 billion to $3.35 billion. For the next year, analysts anticipate that the company will post sales of $3.37 billion, with estimates ranging from $3.35 billion to $3.38 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Boyd Gaming.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $827.30 million for the quarter, compared to analyst estimates of $826.52 million. Boyd Gaming had a return on equity of 13.57% and a net margin of 4.18%. The company’s revenue was up 36.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS.

Several equities analysts have recently weighed in on the company. ValuEngine lowered Boyd Gaming from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. Wolfe Research assumed coverage on Boyd Gaming in a research note on Friday, June 14th. They issued an “outperform” rating and a $37.00 price objective on the stock. Morgan Stanley set a $34.00 price objective on Boyd Gaming and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, TheStreet raised Boyd Gaming from a “c+” rating to a “b” rating in a research note on Monday, March 25th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Boyd Gaming has a consensus rating of “Buy” and a consensus price target of $35.11.

Large investors have recently made changes to their positions in the stock. Pinnacle Associates Ltd. raised its holdings in shares of Boyd Gaming by 19.4% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,318,599 shares of the company’s stock valued at $36,077,000 after buying an additional 213,855 shares during the period. Norges Bank purchased a new stake in Boyd Gaming during the 4th quarter worth approximately $19,594,000. Bank of New York Mellon Corp increased its holdings in Boyd Gaming by 25.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,261,785 shares of the company’s stock worth $26,219,000 after purchasing an additional 252,056 shares during the last quarter. Squarepoint Ops LLC increased its holdings in Boyd Gaming by 106.7% during the 4th quarter. Squarepoint Ops LLC now owns 235,990 shares of the company’s stock worth $4,904,000 after purchasing an additional 121,806 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Boyd Gaming during the 1st quarter worth approximately $3,677,000. Institutional investors and hedge funds own 66.26% of the company’s stock.

Shares of NYSE BYD traded down $0.71 during midday trading on Wednesday, hitting $26.53. The stock had a trading volume of 64,733 shares, compared to its average volume of 1,264,322. The company has a market cap of $3.06 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 0.77 and a beta of 2.13. Boyd Gaming has a 1-year low of $18.98 and a 1-year high of $39.35. The company has a quick ratio of 0.68, a current ratio of 0.72 and a debt-to-equity ratio of 4.08. The business has a fifty day moving average of $26.19.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be issued a dividend of $0.07 per share. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Friday, June 14th. Boyd Gaming’s dividend payout ratio (DPR) is presently 21.05%.

About Boyd Gaming

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 March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

Read More: What is net income?

Get a free copy of the Zacks research report on Boyd Gaming (BYD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Boyd Gaming (NYSE:BYD)

Receive News & Ratings for Boyd Gaming Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boyd Gaming and related companies with MarketBeat.com's FREE daily email newsletter.