Boyd Gaming (NYSE:BYD) Receives Market Perform Rating from JMP Securities

JMP Securities restated their market perform rating on shares of Boyd Gaming (NYSE:BYD) in a research report report published on Friday morning,Benzinga reports.

Several other research firms have also recently issued reports on BYD. Truist Financial boosted their target price on Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Barclays boosted their price objective on shares of Boyd Gaming from $71.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, January 24th. Stifel Nicolaus raised their target price on shares of Boyd Gaming from $74.00 to $82.00 and gave the stock a “hold” rating in a research report on Friday. Mizuho boosted their price target on shares of Boyd Gaming from $79.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Wells Fargo & Company increased their price target on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boyd Gaming presently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

Boyd Gaming Trading Down 1.9 %

Shares of BYD opened at $77.09 on Friday. The firm has a fifty day simple moving average of $74.10 and a two-hundred day simple moving average of $67.61. Boyd Gaming has a twelve month low of $49.34 and a twelve month high of $80.50. The stock has a market capitalization of $6.81 billion, a P/E ratio of 12.39, a PEG ratio of 4.38 and a beta of 1.54. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. On average, research analysts anticipate that Boyd Gaming will post 6.57 EPS for the current year.

Boyd Gaming announced that its board has approved a stock buyback program on Thursday, December 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Monday, December 16th. Boyd Gaming’s dividend payout ratio (DPR) is presently 10.93%.

Insider Transactions at Boyd Gaming

In other news, Director Christine J. Spadafor sold 660 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $75.68, for a total transaction of $49,948.80. Following the sale, the director now owns 5,977 shares in the company, valued at $452,339.36. This represents a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Keith Smith sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $72.15, for a total transaction of $2,164,500.00. Following the completion of the transaction, the chief executive officer now owns 1,101,202 shares of the company’s stock, valued at approximately $79,451,724.30. The trade was a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,660 shares of company stock valued at $7,307,149. Insiders own 27.94% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its position in Boyd Gaming by 47.4% in the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock worth $33,000 after buying an additional 148 shares during the last quarter. Cetera Trust Company N.A grew its stake in shares of Boyd Gaming by 5.4% in the third quarter. Cetera Trust Company N.A now owns 3,330 shares of the company’s stock worth $215,000 after acquiring an additional 170 shares during the period. UMB Bank n.a. raised its holdings in shares of Boyd Gaming by 80.3% during the fourth quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after purchasing an additional 175 shares during the last quarter. Covestor Ltd lifted its position in Boyd Gaming by 54.9% during the third quarter. Covestor Ltd now owns 587 shares of the company’s stock valued at $38,000 after purchasing an additional 208 shares during the period. Finally, KBC Group NV boosted its holdings in Boyd Gaming by 0.9% in the third quarter. KBC Group NV now owns 25,407 shares of the company’s stock worth $1,643,000 after purchasing an additional 232 shares during the last quarter. 76.81% of the stock is owned by institutional investors.

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.