Cormark Has Optimistic Outlook of TSE:BYD FY2024 Earnings

Boyd Group Services Inc. (TSE:BYD) – Investment analysts at Cormark raised their FY2024 EPS estimates for Boyd Group Services in a report issued on Monday, January 27th. Cormark analyst J. Fenwick now anticipates that the company will post earnings of $1.86 per share for the year, up from their previous forecast of $1.58. The consensus estimate for Boyd Group Services’ current full-year earnings is $7.15 per share. Cormark also issued estimates for Boyd Group Services’ Q4 2024 earnings at $0.20 EPS and FY2025 earnings at $5.62 EPS.

Boyd Group Services (TSE:BYD) last announced its earnings results on Tuesday, November 5th. The company reported C$0.20 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.66 by C($0.46). Boyd Group Services had a net margin of 1.93% and a return on equity of 7.21%. The company had revenue of C$1.03 billion for the quarter, compared to the consensus estimate of C$1.03 billion.

Several other equities research analysts have also recently weighed in on BYD. TD Securities reduced their price target on Boyd Group Services from C$300.00 to C$270.00 in a research note on Wednesday, November 6th. Stifel Nicolaus decreased their price target on shares of Boyd Group Services from C$280.00 to C$275.00 in a research note on Monday, October 28th. Royal Bank of Canada lowered their price target on shares of Boyd Group Services from C$306.00 to C$280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. National Bankshares cut their price objective on shares of Boyd Group Services from C$270.00 to C$245.00 in a report on Wednesday, November 6th. Finally, CIBC lifted their target price on shares of Boyd Group Services from C$252.00 to C$272.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$278.08.

Boyd Group Services Stock Performance

Boyd Group Services stock opened at C$236.95 on Wednesday. Boyd Group Services has a fifty-two week low of C$198.61 and a fifty-two week high of C$324.75. The stock’s 50 day simple moving average is C$217.05 and its two-hundred day simple moving average is C$220.08. The company has a debt-to-equity ratio of 146.14, a quick ratio of 0.30 and a current ratio of 0.61. The stock has a market cap of C$5.09 billion, a price-to-earnings ratio of 63.19, a PEG ratio of -56.72 and a beta of 0.99.

Insiders Place Their Bets

In related news, Director Robert Berthold Espey acquired 200 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was purchased at an average cost of C$220.00 per share, with a total value of C$44,000.00. Corporate insiders own 0.37% of the company’s stock.

Boyd Group Services Company Profile

Boyd Group Services Inc, together with its subsidiaries, operates non-franchised collision repair centers in North America. The company operates its locations under the Boyd Autobody & Glass and Assured Automotive names in Canada; and Gerber Collision & Glass name in the United States. It also operates as a retail auto glass operator under the Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority, and Autoglassonly.com names in the United States.