Mon Sep 23 21:55:00 UTC 2024: ## Boyd Group Services Hits 52-Week Low Amid Analyst Downgrades and Missed Earnings

**Toronto, Canada** – Boyd Group Services Inc. (TSE:BYD) reached a new 52-week low on Monday, closing at C$203.63 after trading as low as C$202.75. The decline comes amid a string of analyst downgrades and the company’s recent miss on quarterly earnings expectations.

Several analysts have lowered their price targets for BYD shares in recent months. Raymond James, BMO Capital Markets, Stifel Nicolaus, Jefferies Financial Group, and CIBC all reduced their price targets, citing concerns about the company’s performance. While some maintain “buy” ratings, the overall sentiment towards Boyd Group Services has shifted towards caution.

The company reported earnings of C$0.77 per share for the quarter ending August 8th, falling short of analysts’ estimates of C$0.82. Revenue also came in slightly below expectations at C$1.07 billion. Despite the miss, Boyd Group Services declared a quarterly dividend of C$0.15 per share, payable on October 29th.

Despite the recent struggles, Boyd Group Services continues to operate collision repair centers in North America under various brands, including Boyd Autobody & Glass, Assured Automotive, and Gerber Collision & Glass. The company also operates as a retail auto glass provider in the United States.

Analysts are predicting that Boyd Group Services will earn C$7.1062435 per share for the current fiscal year. However, the company will need to demonstrate improvement in its performance to regain investor confidence and attract further investment.

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