Boyd Gaming Corporation to Post FY2021 Earnings of $1.90 Per Share, Gabelli Forecasts (BYD)
Boyd Gaming Corporation (NYSE:BYD) – Investment analysts at Gabelli lifted their FY2021 earnings per share (EPS) estimates for shares of Boyd Gaming Corporation in a research report issued to clients and investors on Friday. Gabelli analyst A. Trivison now expects that the company will post earnings per share of $1.90 for the year, up from their previous estimate of $1.85.
Boyd Gaming Corporation (NYSE:BYD) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.04). The company had revenue of $599.87 million during the quarter, compared to analysts’ expectations of $602.39 million. Boyd Gaming Corporation had a return on equity of 13.31% and a net margin of 19.15%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS.
Several other brokerages have also recently issued reports on BYD. Wells Fargo & Company restated a “market perform” rating and issued a $25.00 target price (up previously from $22.00) on shares of Boyd Gaming Corporation in a report on Monday, June 19th. Telsey Advisory Group upped their target price on shares of Boyd Gaming Corporation from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, July 28th. BidaskClub cut shares of Boyd Gaming Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 23rd. Morgan Stanley cut shares of Boyd Gaming Corporation from an “overweight” rating to an “equal weight” rating and set a $26.00 target price for the company. in a report on Tuesday, June 20th. They noted that the move was a valuation call. Finally, Deutsche Bank AG restated a “buy” rating and issued a $29.00 target price (down previously from $30.00) on shares of Boyd Gaming Corporation in a report on Sunday, July 30th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Boyd Gaming Corporation has an average rating of “Buy” and an average price target of $26.93.
Boyd Gaming Corporation (NYSE BYD) traded up 1.05% on Monday, hitting $27.79. 723,230 shares of the company’s stock were exchanged. The company has a market cap of $3.13 billion, a PE ratio of 13.62 and a beta of 1.87. Boyd Gaming Corporation has a 12-month low of $16.77 and a 12-month high of $27.98. The company’s 50-day moving average price is $26.21 and its 200-day moving average price is $24.95.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, September 18th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Friday, September 15th. Boyd Gaming Corporation’s dividend payout ratio is currently 5.25%.
In other Boyd Gaming Corporation news, VP William R. Boyd sold 7,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $26.71, for a total transaction of $186,970.00. Following the completion of the transaction, the vice president now owns 1,251 shares in the company, valued at approximately $33,414.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Robert Bailey acquired 10,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were purchased at an average price of $25.33 per share, with a total value of $253,300.00. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 133,531 shares of company stock valued at $3,447,521. 29.16% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System raised its position in Boyd Gaming Corporation by 0.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 33,700 shares of the company’s stock worth $836,000 after buying an additional 100 shares during the last quarter. Legal & General Group Plc raised its position in Boyd Gaming Corporation by 0.4% during the 1st quarter. Legal & General Group Plc now owns 148,018 shares of the company’s stock worth $3,255,000 after buying an additional 517 shares during the last quarter. Amalgamated Bank raised its position in Boyd Gaming Corporation by 5.0% during the 2nd quarter. Amalgamated Bank now owns 11,456 shares of the company’s stock worth $284,000 after buying an additional 546 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Boyd Gaming Corporation by 2.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 26,520 shares of the company’s stock worth $658,000 after buying an additional 550 shares during the last quarter. Finally, Texas Permanent School Fund raised its position in Boyd Gaming Corporation by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 60,351 shares of the company’s stock worth $1,497,000 after buying an additional 600 shares during the last quarter. Institutional investors own 74.66% of the company’s stock.
Boyd Gaming Corporation Company Profile
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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