Boyd Group Services (NYSE:BGSI) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Boyd Group Services (NYSE:BGSI) announced its quarterly earnings results on Wednesday. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02, Zacks reports. Boyd Group Services had a net margin of 0.59% and a return on equity of 4.63%.

Boyd Group Services Price Performance

Shares of BGSI stock traded down $13.41 during trading hours on Wednesday, hitting $98.26. The company had a trading volume of 142,290 shares, compared to its average volume of 39,326. The company has a quick ratio of 3.00, a current ratio of 3.14 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $2.73 billion, a PE ratio of 119.82 and a beta of 0.78. The business’s fifty day moving average is $132.30. Boyd Group Services has a fifty-two week low of $94.77 and a fifty-two week high of $183.10.

Boyd Group Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, March 31st were issued a $0.156 dividend. This represents a $0.62 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, March 31st. Boyd Group Services’s dividend payout ratio is currently 54.88%.

Analyst Upgrades and Downgrades

BGSI has been the topic of a number of recent analyst reports. Wall Street Zen cut Boyd Group Services from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Scotiabank raised Boyd Group Services to a “strong-buy” rating in a research note on Wednesday, January 14th. Weiss Ratings assumed coverage on Boyd Group Services in a research report on Thursday, January 15th. They issued a “sell (d+)” rating on the stock. Finally, Stephens decreased their price target on Boyd Group Services from $200.00 to $157.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.00.

Institutional Trading of Boyd Group Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BGSI. Public Sector Pension Investment Board acquired a new position in Boyd Group Services during the fourth quarter worth $262,000. Susquehanna Portfolio Strategies LLC acquired a new stake in shares of Boyd Group Services in the fourth quarter valued at $287,000. Invesco Ltd. purchased a new stake in shares of Boyd Group Services in the 4th quarter valued at $318,000. Deutsche Bank AG purchased a new stake in shares of Boyd Group Services in the 4th quarter valued at $373,000. Finally, CANADA LIFE ASSURANCE Co acquired a new position in Boyd Group Services during the 4th quarter worth about $861,000. Hedge funds and other institutional investors own 0.17% of the company’s stock.

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.