Boyd Group Services (TSE:BYD) Trading Down 1.7% – Here’s Why

Boyd Group Services Inc. (TSE:BYD) shares traded down 1.7% during trading on Wednesday . The stock traded as low as C$224.67 and last traded at C$224.97. 35,430 shares traded hands during trading, a decline of 36% from the average session volume of 55,718 shares. The stock had previously closed at C$228.80.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. National Bankshares increased their price target on Boyd Group Services from C$245.00 to C$250.00 and gave the company an “outperform” rating in a research report on Thursday, August 14th. Cormark upgraded shares of Boyd Group Services from a “hold” rating to a “moderate buy” rating in a report on Thursday, October 30th. TD Securities raised their price objective on shares of Boyd Group Services from C$280.00 to C$290.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Stifel Nicolaus lifted their price objective on shares of Boyd Group Services from C$265.00 to C$275.00 in a research report on Tuesday, November 4th. Finally, CIBC increased their target price on Boyd Group Services from C$270.00 to C$280.00 in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Boyd Group Services currently has a consensus rating of “Buy” and a consensus target price of C$265.60.

Boyd Group Services Stock Down 1.7%

The firm’s 50 day simple moving average is C$221.60 and its 200-day simple moving average is C$216.76. The company has a market cap of C$6.26 billion, a price-to-earnings ratio of 304.01, a P/E/G ratio of -56.72 and a beta of 0.22. The company has a debt-to-equity ratio of 150.94, a current ratio of 0.70 and a quick ratio of 0.30.

Boyd Group Services (TSE:BYD) last posted its earnings results on Wednesday, November 12th. The company reported C$0.62 EPS for the quarter. The business had revenue of C$1.10 billion for the quarter. Boyd Group Services had a return on equity of 4.93% and a net margin of 1.35%. As a group, sell-side analysts anticipate that Boyd Group Services Inc. will post 7.1452646 earnings per share for the current year.

Boyd Group Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 29th. Stockholders of record on Tuesday, September 30th were issued a $0.153 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.3%. Boyd Group Services’s payout ratio is 58.82%.

About Boyd Group Services

Boyd Group Services Inc is a personal services company that provides auto body and auto glass repair services at its portfolio of facilities located across the United States and Canada. The company operates in Canada primarily under the Boyd Autobody and Glass brand name, while its most notable U.S. brand is Gerber Collision and Glass.