Boyd Group Services (NYSE:BGSI) Stock Price Down 5.7% on Disappointing Earnings

Boyd Group Services Inc. (NYSE:BGSI)’s share price dropped 5.7% during trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $98.13 and last traded at $99.0810. Approximately 15,289 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 46,580 shares. The stock had previously closed at $105.06.

The company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.14). The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Boyd Group Services had a net margin of 0.39% and a return on equity of 4.90%.

Boyd Group Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Tuesday, June 30th were paid a $0.156 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.6%. Boyd Group Services’s payout ratio is presently 66.67%.

Analysts Set New Price Targets

Several research firms recently issued reports on BGSI. Wall Street Zen lowered Boyd Group Services from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Boyd Group Services in a research report on Wednesday, June 24th. Finally, Zacks Research upgraded shares of Boyd Group Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.00.

Hedge Funds Weigh In On Boyd Group Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Assetmark Inc. grew its position in shares of Boyd Group Services by 23.5% during the first quarter. Assetmark Inc. now owns 457 shares of the company’s stock worth $58,000 after buying an additional 87 shares in the last quarter. Deutsche Bank AG acquired a new stake in Boyd Group Services in the second quarter valued at approximately $188,000. Public Sector Pension Investment Board acquired a new stake in Boyd Group Services in the fourth quarter valued at approximately $262,000. Amundi purchased a new position in Boyd Group Services in the first quarter worth approximately $277,000. Finally, Susquehanna Portfolio Strategies LLC purchased a new position in Boyd Group Services in the fourth quarter worth approximately $287,000. Hedge funds and other institutional investors own 0.17% of the company’s stock.

Boyd Group Services Stock Down 5.7%

The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.58. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 149.85 and a beta of 0.72. The firm’s fifty day simple moving average is $99.51 and its 200 day simple moving average is $125.27.

About Boyd Group Services

Boyd Group Services Inc is a North American operator of collision repair centers that provides vehicle repair, paint and refinishing, and auto glass replacement services. Its locations perform mechanical and cosmetic collision repairs, parts sourcing, and related warranty work, serving retail customers as well as business clients such as insurers and fleet operators. The company’s operations typically include estimating, repair planning, paint and body work, and post-repair quality assurance and customer service.

Headquartered in Winnipeg, Manitoba, Canada, Boyd Group Services operates across both Canada and the United States through a network of company-owned collision repair facilities under various local and regional brand names.