Boyd Group Income Fund (TSE:BYD) Rating Lowered to Sector Perform at National Bank Financial

National Bank Financial cut shares of Boyd Group Income Fund (TSE:BYD) from an outperform rating to a sector perform rating in a research note released on Monday morning, BayStreet.CA reports. National Bank Financial currently has C$230.00 price target on the stock, down from their prior price target of C$235.00.

A number of other equities research analysts also recently weighed in on the company. Cormark raised their price target on Boyd Group Income Fund from C$215.00 to C$235.00 in a research note on Thursday, July 9th. Royal Bank of Canada raised their price objective on Boyd Group Income Fund from C$218.00 to C$222.00 and gave the company a sector perform rating in a research note on Wednesday, October 21st. Raymond James set a C$240.00 price objective on Boyd Group Income Fund and gave the company a strong-buy rating in a research note on Friday, August 28th. Finally, TD Securities cut their price objective on Boyd Group Income Fund from C$245.00 to C$240.00 in a research note on Wednesday, October 21st. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of C$218.40.

BYD opened at C$189.53 on Monday. Boyd Group Income Fund has a fifty-two week low of C$125.01 and a fifty-two week high of C$231.52. The business has a 50-day moving average of C$203.49 and a 200-day moving average of C$200.33. The company has a debt-to-equity ratio of 133.89, a current ratio of 1.74 and a quick ratio of 1.56. The company has a market capitalization of $4.07 billion and a PE ratio of 90.30.

Boyd Group Income Fund (TSE:BYD) last posted its quarterly earnings results on Wednesday, August 12th. The company reported C($0.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of C($1.29) by C$0.96. The firm had revenue of C$426.47 million for the quarter, compared to analysts’ expectations of C$445.95 million. On average, equities research analysts expect that Boyd Group Income Fund will post 5.7999998 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Shareholders of record on Wednesday, September 30th were issued a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date was Tuesday, September 29th. Boyd Group Income Fund’s dividend payout ratio (DPR) is currently 26.11%.

About Boyd Group Income Fund

Boyd Group Services Inc 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 Services, Auto Glass Authority, and Autoglassonly.com names in the United States.

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Analyst Recommendations for Boyd Group Income Fund (TSE:BYD)

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