Boyd Gaming (NYSE:BYD) Receives “Outperform” Rating from Mizuho

Mizuho restated their outperform rating on shares of Boyd Gaming (NYSE:BYD) in a report released on Friday morning, Benzinga reports. The firm currently has a $79.00 price objective on the stock, up from their prior price objective of $78.00.

A number of other brokerages have also recently weighed in on BYD. Truist Financial upped their price target on shares of Boyd Gaming from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday. Macquarie lowered their target price on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Bank of America boosted 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. Morgan Stanley increased 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. Finally, Barclays boosted their target price on shares of Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.38.

Boyd Gaming Price Performance

Shares of Boyd Gaming stock opened at $69.35 on Friday. The stock has a market capitalization of $6.58 billion, a P/E ratio of 12.45 and a beta of 1.57. 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 fifty day moving average price is $62.42 and its 200 day moving average price is $58.46. Boyd Gaming has a twelve month low of $49.34 and a twelve month high of $71.00.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.09. The business had revenue of $967.50 million for the quarter, compared to analyst estimates of $909.49 million. Boyd Gaming had a return on equity of 34.29% and a net margin of 13.32%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.58 EPS. As a group, research analysts anticipate 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. 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 0.98%. Boyd Gaming’s dividend payout ratio (DPR) is 12.21%.

Insider Buying and Selling at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,242 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the sale, the director now directly owns 1,096 shares in the company, valued at approximately $66,154.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction on Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the transaction, the director now owns 1,096 shares of the company’s stock, valued at $66,154.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the stock in a transaction on Thursday, August 29th. The stock was 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. 27.94% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boyd Gaming

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. AlphaMark Advisors LLC boosted 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 valued at $529,000 after purchasing an additional 341 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Boyd Gaming by 57.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after acquiring an additional 189 shares during the period. State of Michigan Retirement System grew its position in shares of Boyd Gaming by 2.4% during the first quarter. State of Michigan Retirement System now owns 17,024 shares of the company’s stock worth $1,146,000 after acquiring an additional 400 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Boyd Gaming by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 261,786 shares of the company’s stock worth $17,623,000 after acquiring an additional 6,442 shares during the period. Finally, Retirement Systems of Alabama lifted its position in Boyd Gaming by 14.8% in the 1st quarter. Retirement Systems of Alabama now owns 223,978 shares of the company’s stock valued at $15,078,000 after purchasing an additional 28,844 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

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.