Boyd Gaming (NYSE:BYD) Issues Earnings Results, Beats Estimates By $0.03 EPS

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Boyd Gaming (NYSE:BYD) posted its earnings results on Thursday. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03, Briefing.com reports. The company had revenue of $833.13 million during the quarter, compared to the consensus estimate of $828.46 million. Boyd Gaming had a net margin of 4.74% and a return on equity of 16.82%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share.

Shares of Boyd Gaming stock opened at $33.91 on Friday. The firm has a 50-day simple moving average of $30.69 and a two-hundred day simple moving average of $27.78. The company has a market cap of $3.86 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 1.26 and a beta of 2.19. Boyd Gaming has a fifty-two week low of $21.76 and a fifty-two week high of $36.22. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.67 and a current ratio of 0.71.

A number of research firms recently issued reports on BYD. Deutsche Bank boosted their target price on shares of Boyd Gaming from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday. They noted that the move was a valuation call. Morgan Stanley boosted their target price on shares of Boyd Gaming from $33.00 to $37.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Jefferies Financial Group downgraded shares of Boyd Gaming from a “buy” rating to a “hold” rating and boosted their target price for the company from $33.00 to $34.00 in a research report on Monday, January 6th. Stifel Nicolaus upped their price objective on shares of Boyd Gaming from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Wolfe Research downgraded shares of Boyd Gaming from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $33.00.

In other Boyd Gaming news, EVP Stephen S. Thompson sold 10,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $29.89, for a total value of $298,900.00. Following the completion of the transaction, the executive vice president now owns 94,189 shares in the company, valued at $2,815,309.21. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Josh Hirsberg sold 35,510 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $29.76, for a total transaction of $1,056,777.60. Following the completion of the transaction, the chief financial officer now owns 372,815 shares of the company’s stock, valued at approximately $11,094,974.40. The disclosure for this sale can be found here. Corporate insiders own 29.35% of the company’s stock.

Boyd Gaming Company Profile

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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Earnings History for Boyd Gaming (NYSE:BYD)

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