Boyd Gaming (NYSE:BYD) PT Raised to $77.00 at Truist Financial

Boyd Gaming (NYSE:BYD) had its price target hoisted by Truist Financial from $75.00 to $77.00 in a research note issued to investors on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

BYD has been the topic of a number of other reports. Wells Fargo & Company increased their price target on Boyd Gaming from $71.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Macquarie dropped their price target on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Bank of America increased their price target on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Barclays raised their target price on Boyd Gaming from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley raised their target price on Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.38.

Boyd Gaming Stock Up 7.9 %

Shares of Boyd Gaming stock opened at $69.36 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.70. The business’s 50 day simple moving average is $62.42 and its 200-day simple moving average is $58.40. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 12.45 and a beta of 1.57. Boyd Gaming has a twelve month low of $49.34 and a twelve month high of $71.00.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.09. The business had revenue of $967.50 million for the quarter, compared to analysts’ expectations of $909.49 million. Boyd Gaming had a return on equity of 34.29% and a net margin of 13.32%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 EPS. Equities research analysts forecast that Boyd Gaming will post 6.25 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Friday, September 13th. Boyd Gaming’s payout ratio is currently 12.21%.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the stock in a transaction on 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 transaction, the director now directly owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the stock in a transaction on 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 transaction, the director now directly owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the stock in a transaction 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 directly owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. 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 currently owned by corporate insiders.

Hedge Funds Weigh In On Boyd Gaming

A number of institutional investors have recently bought and sold shares of the stock. Signet Financial Management LLC boosted its holdings in shares of Boyd Gaming by 2.5% in the first quarter. Signet Financial Management LLC now owns 28,709 shares of the company’s stock worth $1,933,000 after buying an additional 707 shares during the period. AlphaMark Advisors LLC grew its position in Boyd Gaming by 4.5% during the 1st quarter. AlphaMark Advisors LLC now owns 7,858 shares of the company’s stock worth $529,000 after purchasing an additional 341 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Boyd Gaming by 57.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock worth $35,000 after purchasing an additional 189 shares in the last quarter. State of Michigan Retirement System grew its position in Boyd Gaming by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 17,024 shares of the company’s stock worth $1,146,000 after purchasing an additional 400 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Boyd Gaming by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 261,786 shares of the company’s stock worth $17,623,000 after purchasing an additional 6,442 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Company Profile

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.