Boyd Gaming (NYSE:BYD) PT Raised to $75.00 at Wells Fargo & Company

Boyd Gaming (NYSE:BYD) had its price objective raised by Wells Fargo & Company from $71.00 to $75.00 in a research note released on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

BYD has been the topic of several other reports. Barclays boosted their price target on shares of Boyd Gaming from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday. Stifel Nicolaus boosted their target price on Boyd Gaming from $65.00 to $67.00 and gave the company a “hold” rating in a research note on Friday, July 26th. StockNews.com raised Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Morgan Stanley raised Boyd Gaming from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $66.00 to $74.00 in a research note on Wednesday, September 4th. Finally, Macquarie dropped their price objective on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

Boyd Gaming Trading Up 1.1 %

Shares of NYSE BYD opened at $66.08 on Thursday. 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 has a one year low of $49.34 and a one year high of $68.46. The business has a 50-day moving average price of $61.41 and a two-hundred day moving average price of $58.52. The firm has a market capitalization of $6.27 billion, a PE ratio of 11.86 and a beta of 1.57.

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

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Sunday, September 15th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a yield of 1.03%. Boyd Gaming’s payout ratio is presently 12.21%.

Insiders Place Their Bets

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were 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 directly owns 1,096 shares in the company, valued at $66,154.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’s stock in a transaction 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 transaction, the chairman now 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction 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 transaction, 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. Company insiders own 27.94% of the company’s stock.

Institutional Trading of Boyd Gaming

Several hedge funds and other institutional investors have recently bought and sold shares of BYD. Ariel Investments LLC lifted its stake in shares of Boyd Gaming by 12.5% in the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock valued at $167,046,000 after buying an additional 335,984 shares during the period. Boston Partners raised its holdings in Boyd Gaming by 10.0% in the 1st quarter. Boston Partners now owns 3,031,091 shares of the company’s stock valued at $203,276,000 after acquiring an additional 274,876 shares in the last quarter. Bamco Inc. NY lifted its position in shares of Boyd Gaming by 4.0% in the 1st quarter. Bamco Inc. NY now owns 1,899,344 shares of the company’s stock worth $127,864,000 after acquiring an additional 73,491 shares during the period. American Century Companies Inc. lifted its position in shares of Boyd Gaming by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 1,149,701 shares of the company’s stock worth $63,349,000 after acquiring an additional 189,226 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Boyd Gaming by 0.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,002,438 shares of the company’s stock worth $67,485,000 after purchasing an additional 3,087 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

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.