Boyd Gaming (NYSE:BYD – Get Rating) is set to announce its earnings results after the market closes on Thursday, February 2nd. Analysts expect the company to announce earnings of $1.46 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.
Boyd Gaming (NYSE:BYD – Get Rating) last released its quarterly earnings data on Tuesday, October 25th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.20. Boyd Gaming had a net margin of 16.41% and a return on equity of 41.21%. The company had revenue of $877.26 million during the quarter, compared to analyst estimates of $859.03 million. During the same quarter in the prior year, the business earned $1.30 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts expect Boyd Gaming to post $6 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Boyd Gaming Price Performance
Boyd Gaming stock opened at $60.72 on Thursday. Boyd Gaming has a 52-week low of $46.10 and a 52-week high of $72.72. The firm has a fifty day moving average of $57.90 and a 200-day moving average of $55.45. The firm has a market capitalization of $6.34 billion, a P/E ratio of 11.68, a PEG ratio of 0.96 and a beta of 1.83. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 1.83.
Boyd Gaming Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, January 15th. Stockholders of record on Monday, December 19th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, December 16th. Boyd Gaming’s payout ratio is currently 11.54%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on BYD shares. Credit Suisse Group started coverage on shares of Boyd Gaming in a research report on Tuesday, January 17th. They issued an “outperform” rating and a $82.00 price objective for the company. Wells Fargo & Company lowered their price target on shares of Boyd Gaming from $77.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, October 21st. Susquehanna raised their price target on shares of Boyd Gaming from $68.00 to $72.00 in a report on Wednesday, October 26th. CBRE Group reaffirmed a “hold” rating and set a $60.00 price target on shares of Boyd Gaming in a report on Thursday, October 20th. Finally, Morgan Stanley started coverage on shares of Boyd Gaming in a report on Monday, November 21st. They set an “underweight” rating and a $54.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.53.
Insider Transactions at Boyd Gaming
In other news, insider William S. Boyd sold 190,000 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $58.90, for a total value of $11,191,000.00. Following the transaction, the insider now directly owns 14,543,927 shares in the company, valued at approximately $856,637,300.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider William S. Boyd sold 106,562 shares of the stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $58.61, for a total value of $6,245,598.82. Following the sale, the insider now owns 14,733,927 shares of the company’s stock, valued at approximately $863,555,461.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider William S. Boyd sold 190,000 shares of the stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $58.90, for a total transaction of $11,191,000.00. Following the completion of the sale, the insider now directly owns 14,543,927 shares in the company, valued at approximately $856,637,300.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 605,286 shares of company stock worth $35,316,575. 28.41% of the stock is currently owned by insiders.
Institutional Trading or Boyd Gaming
A number of large investors have recently modified their holdings of BYD. HighTower Advisors LLC increased its holdings in shares of Boyd Gaming by 9.3% in the 1st quarter. HighTower Advisors LLC now owns 8,539 shares of the company’s stock worth $560,000 after acquiring an additional 725 shares during the period. Citi Group Inc. increased its holdings in shares of Boyd Gaming by 1.4% in the 1st quarter. Citi Group Inc. now owns 42,226 shares of the company’s stock worth $2,778,000 after acquiring an additional 567 shares during the period. Bank of Montreal Can increased its holdings in shares of Boyd Gaming by 24.3% in the 1st quarter. Bank of Montreal Can now owns 10,255 shares of the company’s stock worth $689,000 after acquiring an additional 2,002 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Boyd Gaming by 35.4% in the 1st quarter. MetLife Investment Management LLC now owns 53,822 shares of the company’s stock worth $3,540,000 after acquiring an additional 14,078 shares during the period. Finally, Rhumbline Advisers increased its stake in Boyd Gaming by 2.3% during the 1st quarter. Rhumbline Advisers now owns 221,735 shares of the company’s stock valued at $14,586,000 after buying an additional 4,888 shares during the period. Institutional investors and hedge funds own 68.68% of the company’s stock.
Boyd Gaming Company Profile
Boyd Gaming Corp. engages in the management and operation of gaming and entertainment properties. It operates through the following segments: Las Vegas Locals, Downtown Las Vegas and Midwest & South. The Las Vegas Locals segment consists of casinos that serve the resident population of the Las Vegas metropolitan area.
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