Boyd Group Services (NYSE:BGSI) Shares Gap Down Following Weak Earnings

Boyd Group Services Inc. (NYSE:BGSI) gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $88.50, but opened at $78.50. Boyd Group Services shares last traded at $76.8360, with a volume of 17,421 shares changing hands.

The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.24). Boyd Group Services had a net margin of 0.25% and a return on equity of 5.21%.

Boyd Group Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 28th. Shareholders of record on Wednesday, September 30th were given a C$0.16 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.8%. Boyd Group Services’s payout ratio is currently 95.65%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BGSI. Weiss Ratings raised Boyd Group Services from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 29th. Zacks Research raised Boyd Group Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Finally, Mizuho assumed coverage on Boyd Group Services in a report on Friday, September 18th. They issued an “outperform” rating and a $120.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $138.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BGSI. Principal Financial Group Inc. lifted its position in Boyd Group Services by 5.7% during the 1st quarter. Principal Financial Group Inc. now owns 413,018 shares of the company’s stock worth $52,654,000 after acquiring an additional 22,448 shares during the last quarter. BCV Asset Management Inc. bought a new position in shares of Boyd Group Services in the third quarter worth about $39,970,000. Caisse de depot et placement du Quebec bought a new position in shares of Boyd Group Services in the second quarter worth about $38,300,000. Janus Henderson Group PLC increased its stake in shares of Boyd Group Services by 18.2% in the first quarter. Janus Henderson Group PLC now owns 133,564 shares of the company’s stock worth $17,015,000 after purchasing an additional 20,596 shares during the period. Finally, Jupiter Topco LLC acquired a new position in shares of Boyd Group Services during the 2nd quarter worth about $15,591,000. Institutional investors own 0.17% of the company’s stock.

Boyd Group Services Stock Down 12.4%

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 firm has a market cap of $2.15 billion, a price-to-earnings ratio of 168.49 and a beta of 0.68. The firm has a 50-day moving average of $82.80 and a two-hundred day moving average of $112.51.

Boyd Group Services Company Profile

Boyd Group Services Inc. operates collision repair and automotive glass businesses in the United States and Canada. Its services include vehicle collision repairs, paint and refinishing, auto glass repair and replacement, and related services. The company serves customers through brands including Gerber Collision & Glass in the United States and Boyd Autobody & Glass in Canada. Its repair centers work with vehicle owners, insurers and fleet operators. Boyd Group traces its roots to an auto body repair business established in Winnipeg, Manitoba, in 1990.