Imperial Capital Comments on Boyd Gaming Co.’s FY2018 Earnings (BYD)

Imperial Capital Comments on Boyd Gaming Co.’s FY2018 Earnings (BYD)

Boyd Gaming Co. (NYSE:BYD) – Imperial Capital issued their FY2018 EPS estimates for shares of Boyd Gaming in a report issued on Thursday. Imperial Capital analyst G. Klein expects that the company will post earnings of $1.40 per share for the year. Imperial Capital currently has a “Outperform” rating and a $29.00 target price on the stock.

Other equities research analysts have also issued reports about the company. Buckingham Research started coverage on Boyd Gaming in a research note on Friday, January 27th. They issued a “buy” rating and a $23.00 price objective on the stock. Instinet upped their price objective on Boyd Gaming from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, February 15th. Aegis started coverage on Boyd Gaming in a research note on Monday, February 13th. They issued a “buy” rating and a $24.00 price objective on the stock. SunTrust Banks, Inc. started coverage on Boyd Gaming in a research note on Thursday, February 9th. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, Nomura upgraded Boyd Gaming from a “neutral” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Wednesday, February 1st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Boyd Gaming presently has an average rating of “Buy” and an average target price of $25.54.

Shares of Boyd Gaming (NYSE:BYD) traded up 0.41% on Friday, hitting $24.39. The stock had a trading volume of 1,022,023 shares. The firm’s 50-day moving average is $21.93 and its 200 day moving average is $20.27. Boyd Gaming has a 1-year low of $16.77 and a 1-year high of $24.65. The stock has a market cap of $2.76 billion, a P/E ratio of 6.73 and a beta of 1.64.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Tuesday, May 2nd. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. The company earned $605.34 million during the quarter, compared to analyst estimates of $601.11 million. Boyd Gaming had a return on equity of 13.66% and a net margin of 18.37%.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Thursday, June 15th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.82%.

In related news, Director Robert L. Boughner sold 60,000 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $19.64, for a total transaction of $1,178,400.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Brian A. Larson sold 90,478 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $24.14, for a total value of $2,184,138.92. Following the sale, the vice president now owns 195,087 shares in the company, valued at $4,709,400.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 181,218 shares of company stock worth $3,981,865. 29.67% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its stake in Boyd Gaming by 1.4% in the third quarter. Louisiana State Employees Retirement System now owns 36,200 shares of the company’s stock worth $716,000 after buying an additional 500 shares during the period. Capital One National Association raised its stake in Boyd Gaming by 1.6% in the third quarter. Capital One National Association now owns 18,151 shares of the company’s stock worth $359,000 after buying an additional 293 shares during the period. Bank of New York Mellon Corp raised its stake in Boyd Gaming by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 982,969 shares of the company’s stock worth $19,444,000 after buying an additional 16,707 shares during the period. UBS Asset Management Americas Inc. raised its stake in Boyd Gaming by 16.5% in the third quarter. UBS Asset Management Americas Inc. now owns 69,258 shares of the company’s stock worth $1,370,000 after buying an additional 9,786 shares during the period. Finally, BlackRock Advisors LLC raised its stake in Boyd Gaming by 13.0% in the third quarter. BlackRock Advisors LLC now owns 43,577 shares of the company’s stock worth $862,000 after buying an additional 5,015 shares during the period. Institutional investors and hedge funds own 69.79% of the company’s stock.

About Boyd Gaming

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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