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.

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