Boyd Gaming Co. (NYSE:BYD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Boyd Gaming Co. (NYSE:BYD) have been given an average rating of “Moderate Buy” by the fourteen ratings firms that are covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $90.08.

BYD has been the subject of a number of analyst reports. Bank of America lifted their price objective on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Barclays lifted their price objective on shares of Boyd Gaming from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Morgan Stanley lifted their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, Stifel Nicolaus raised their target price on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research note on Friday, July 26th.

Insider Activity

In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’s 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 completion of the transaction, the chairman now directly owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. The trade was 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 hyperlink. In related news, 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 directly 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 document filed with the SEC, which is available through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of Boyd Gaming stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the sale, the chairman now directly owns 1,423,498 shares in the company, valued at $85,737,284.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd bought a new stake in Boyd Gaming during the 2nd quarter worth approximately $29,000. Allspring Global Investments Holdings LLC grew its holdings 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 acquiring an additional 189 shares during the last quarter. Blue Trust Inc. grew its holdings in Boyd Gaming by 58.2% during the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after acquiring an additional 288 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Boyd Gaming during the 1st quarter worth approximately $90,000. Finally, Covestor Ltd grew its holdings in Boyd Gaming by 132.6% during the 1st quarter. Covestor Ltd now owns 1,742 shares of the company’s stock worth $117,000 after acquiring an additional 993 shares during the last quarter. 76.81% of the stock is owned by institutional investors.

Boyd Gaming Stock Up 1.0 %

Boyd Gaming stock opened at $64.40 on Friday. The company has a market cap of $6.11 billion, a P/E ratio of 11.56 and a beta of 1.57. Boyd Gaming has a 1-year low of $49.34 and a 1-year high of $68.46. The company has a fifty day simple moving average of $61.75 and a 200 day simple moving average of $58.37. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.70.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The company had revenue of $967.50 million during the quarter, compared to the consensus estimate of $909.49 million. During the same quarter last year, the firm posted $1.58 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Research analysts anticipate that Boyd Gaming will post 6.25 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Friday, September 13th. Boyd Gaming’s payout ratio is presently 12.21%.

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.