Boyd Gaming Co. (NYSE:BYD – Get Rating) has been given a consensus recommendation of “Buy” by the thirteen ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $75.36.
A number of analysts have issued reports on the company. KeyCorp set a $70.00 price target on Boyd Gaming in a research note on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft decreased their price target on Boyd Gaming from $77.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. Susquehanna Bancshares raised Boyd Gaming from a “neutral” rating to a “positive” rating and raised their price target for the stock from $73.00 to $74.00 in a research note on Tuesday, April 26th. Wells Fargo & Company raised their price objective on Boyd Gaming to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Finally, Morgan Stanley downgraded Boyd Gaming from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $82.00 to $76.00 in a report on Monday, April 25th.
Boyd Gaming Stock Down 0.4%
BYD opened at $55.03 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 1.87. The firm has a market cap of $6.03 billion, a P/E ratio of 11.12, a PEG ratio of 0.99 and a beta of 1.87. Boyd Gaming has a 52 week low of $47.66 and a 52 week high of $72.72. The business’s fifty day simple moving average is $53.60 and its 200 day simple moving average is $59.81.
Boyd Gaming (NYSE:BYD – Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.10. Boyd Gaming had a return on equity of 40.76% and a net margin of 16.03%. During the same quarter last year, the company earned $1.54 EPS. As a group, equities research analysts anticipate that Boyd Gaming will post 5.5 EPS for the current fiscal year.
Boyd Gaming Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, June 29th. This represents a $0.60 annualized dividend and a dividend yield of 1.09%. Boyd Gaming’s payout ratio is currently 12.12%.
Insider Activity at Boyd Gaming
In other Boyd Gaming news, VP William R. Boyd sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $53.74, for a total transaction of $1,074,800.00. Following the completion of the sale, the vice president now owns 2,056,522 shares in the company, valued at approximately $110,517,492.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP William R. Boyd sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $53.74, for a total transaction of $1,074,800.00. Following the completion of the transaction, the vice president now owns 2,056,522 shares in the company, valued at approximately $110,517,492.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marianne Boyd Johnson sold 64,690 shares of Boyd Gaming stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $54.95, for a total value of $3,554,715.50. Following the sale, the insider now directly owns 77,623 shares in the company, valued at approximately $4,265,383.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 256,365 shares of company stock worth $14,862,264. 28.41% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Gates Capital Management Inc. lifted its position in shares of Boyd Gaming by 376.0% during the 4th quarter. Gates Capital Management Inc. now owns 1,982,484 shares of the company’s stock worth $129,991,000 after purchasing an additional 1,565,976 shares during the last quarter. Ariel Investments LLC boosted its position in Boyd Gaming by 1,057.6% in the 4th quarter. Ariel Investments LLC now owns 1,608,923 shares of the company’s stock valued at $105,497,000 after buying an additional 1,469,939 shares during the last quarter. American Century Companies Inc. boosted its position in Boyd Gaming by 6,433.1% in the 1st quarter. American Century Companies Inc. now owns 825,257 shares of the company’s stock valued at $54,285,000 after buying an additional 812,625 shares during the last quarter. Invesco Ltd. boosted its position in Boyd Gaming by 45.2% in the 1st quarter. Invesco Ltd. now owns 2,382,418 shares of the company’s stock valued at $156,715,000 after buying an additional 741,156 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Boyd Gaming by 98.1% in the 4th quarter. Millennium Management LLC now owns 1,204,289 shares of the company’s stock valued at $78,965,000 after purchasing an additional 596,358 shares during the period. Hedge funds and other institutional investors own 70.27% of the company’s stock.
About Boyd Gaming
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of December 31, 2021, the company operated 28 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Boyd Gaming, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Boyd Gaming wasn’t on the list.
While Boyd Gaming currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here