Brokerages Set Boyd Gaming Co. (NYSE:BYD) PT at $89.31

Boyd Gaming Co. (NYSE:BYD) has been assigned an average rating of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $89.31.

BYD has been the topic of a number of research reports. Bank of America raised their price objective on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Stifel Nicolaus lifted their price target on shares of Boyd Gaming from $65.00 to $67.00 and gave the company a “hold” rating in a research report on Friday, July 26th. StockNews.com upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Macquarie reduced their target price on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Finally, Morgan Stanley upgraded Boyd Gaming from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $66.00 to $74.00 in a report on Wednesday, September 4th.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of Boyd Gaming stock in a transaction 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 owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Christine J. Spadafor sold 1,242 shares of the business’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 owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. The disclosure for this sale can be found here. Corporate insiders own 27.94% of the company’s stock.

Institutional Trading of Boyd Gaming

Institutional investors and hedge funds have recently made changes to their positions in the stock. III Capital Management grew its stake in Boyd Gaming by 300.0% during the 4th quarter. III Capital Management now owns 40,000 shares of the company’s stock worth $2,504,000 after buying an additional 30,000 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Boyd Gaming by 14.8% in the 1st quarter. Retirement Systems of Alabama now owns 223,978 shares of the company’s stock worth $15,078,000 after acquiring an additional 28,844 shares during the period. Sei Investments Co. lifted its position in Boyd Gaming by 14.7% in the 1st quarter. Sei Investments Co. now owns 398,823 shares of the company’s stock valued at $26,849,000 after purchasing an additional 51,252 shares during the last quarter. Alaska Permanent Fund Corp boosted its stake in Boyd Gaming by 301.7% during the 1st quarter. Alaska Permanent Fund Corp now owns 28,120 shares of the company’s stock valued at $1,893,000 after purchasing an additional 21,120 shares during the period. Finally, Norges Bank bought a new position in Boyd Gaming in the 4th quarter worth about $44,773,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Boyd Gaming Price Performance

Boyd Gaming stock opened at $65.35 on Monday. Boyd Gaming has a 1 year low of $49.34 and a 1 year high of $68.46. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.79 and a current ratio of 0.83. The firm has a 50 day moving average price of $59.72 and a 200 day moving average price of $58.43. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 11.73 and a beta of 1.57.

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

Boyd Gaming Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.04%. Boyd Gaming’s dividend payout ratio (DPR) is 12.21%.

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.