Boyd Gaming (NYSE:BYD) PT Raised to $78.00

Boyd Gaming (NYSE:BYD) had its target price lifted by Morgan Stanley from $74.00 to $78.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also weighed in on BYD. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Wells Fargo & Company raised their price target on Boyd Gaming from $71.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Bank of America upped their price objective on Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Stifel Nicolaus lifted their target price on Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Barclays upped their price target on shares of Boyd Gaming from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.38.

Boyd Gaming Trading Up 7.8 %

Shares of NYSE BYD opened at $69.35 on Tuesday. Boyd Gaming has a 1-year low of $49.34 and a 1-year high of $71.00. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.83 and a quick ratio of 0.79. The business’s 50 day moving average is $62.42 and its two-hundred day moving average is $58.46. The stock has a market capitalization of $6.58 billion, a P/E ratio of 12.45 and a beta of 1.57.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.09. The company had revenue of $967.50 million for the quarter, compared to analyst estimates of $909.49 million. Boyd Gaming had a return on equity of 34.29% and a net margin of 13.32%. Boyd Gaming’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 EPS. As a group, research analysts expect that Boyd Gaming will post 6.25 EPS for the current year.

Boyd Gaming Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Sunday, September 15th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 0.98%. Boyd Gaming’s dividend payout ratio (DPR) is presently 12.21%.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the completion of the sale, the director now owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the transaction, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the sale, the director now owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 27.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Retirement Systems of Alabama boosted its stake in shares of Boyd Gaming by 14.8% in the first quarter. Retirement Systems of Alabama now owns 223,978 shares of the company’s stock worth $15,078,000 after buying an additional 28,844 shares during the last quarter. Sei Investments Co. grew its stake in shares of Boyd Gaming by 14.7% during the 1st quarter. Sei Investments Co. now owns 398,823 shares of the company’s stock worth $26,849,000 after purchasing an additional 51,252 shares during the period. Seven Eight Capital LP purchased a new position in shares of Boyd Gaming during the 1st quarter valued at approximately $930,000. Banco Santander S.A. increased its holdings in shares of Boyd Gaming by 34.0% during the 1st quarter. Banco Santander S.A. now owns 187,492 shares of the company’s stock valued at $12,622,000 after purchasing an additional 47,606 shares in the last quarter. Finally, Comerica Bank lifted its stake in shares of Boyd Gaming by 103.1% in the 1st quarter. Comerica Bank now owns 42,898 shares of the company’s stock valued at $2,888,000 after purchasing an additional 21,772 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.