Boyd Gaming Co. (NYSE:BYD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Boyd Gaming Co. (NYSE:BYD – Get Rating) has received an average rating of “Moderate Buy” from the sixteen ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $76.07.

Several research firms have issued reports on BYD. Roth Capital began coverage on Boyd Gaming in a research report on Wednesday, January 18th. They set a “buy” rating and a $70.00 target price on the stock. CBRE Group upgraded Boyd Gaming from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Friday, February 3rd. Truist Financial boosted their target price on Boyd Gaming from $83.00 to $85.00 in a research report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft boosted their target price on Boyd Gaming from $76.00 to $78.00 in a research report on Wednesday, April 26th. Finally, Wells Fargo & Company boosted their target price on Boyd Gaming from $73.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd.

Insider Buying and Selling

In related news, CEO Keith Smith sold 25,000 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $64.05, for a total value of $1,601,250.00. Following the transaction, the chief executive officer now directly owns 1,297,562 shares of the company’s stock, valued at approximately $83,108,846.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Boyd Gaming news, EVP Stephen S. Thompson sold 28,376 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $65.83, for a total value of $1,867,992.08. Following the transaction, the executive vice president now directly owns 38,938 shares of the company’s stock, valued at $2,563,288.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Keith Smith sold 25,000 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $64.05, for a total value of $1,601,250.00. Following the completion of the transaction, the chief executive officer now directly owns 1,297,562 shares in the company, valued at $83,108,846.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 357,334 shares of company stock valued at $23,543,265. 27.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Boston Partners acquired a new stake in shares of Boyd Gaming during the first quarter valued at about $82,706,000. Ariel Investments LLC grew its stake in Boyd Gaming by 63.4% in the first quarter. Ariel Investments LLC now owns 2,629,438 shares of the company’s stock worth $172,965,000 after purchasing an additional 1,020,515 shares in the last quarter. Millennium Management LLC grew its stake in Boyd Gaming by 98.1% in the fourth quarter. Millennium Management LLC now owns 1,711,767 shares of the company’s stock worth $93,343,000 after purchasing an additional 847,797 shares in the last quarter. Norges Bank bought a new position in Boyd Gaming in the fourth quarter worth about $41,625,000. Finally, Invesco Ltd. lifted its holdings in Boyd Gaming by 45.2% in the first quarter. Invesco Ltd. now owns 2,382,418 shares of the company’s stock worth $156,715,000 after acquiring an additional 741,156 shares during the last quarter. 68.68% of the stock is owned by hedge funds and other institutional investors.

Boyd Gaming Stock Down 1.9 %

BYD opened at $68.57 on Friday. The business has a 50 day moving average price of $64.81 and a two-hundred day moving average price of $61.45. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.89. The company has a market cap of $6.99 billion, a PE ratio of 10.80, a P/E/G ratio of 1.66 and a beta of 1.78. Boyd Gaming has a 52 week low of $46.10 and a 52 week high of $71.69.

Boyd Gaming (NYSE:BYD – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.51 by $0.20. The firm had revenue of $963.97 million during the quarter, compared to the consensus estimate of $889.59 million. Boyd Gaming had a return on equity of 43.89% and a net margin of 18.48%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.40 EPS. As a group, research analysts anticipate that Boyd Gaming will post 6.24 EPS for the current year.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Thursday, June 15th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Wednesday, June 14th. Boyd Gaming’s dividend payout ratio (DPR) is currently 10.08%.

Boyd Gaming Company Profile

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Boyd Gaming Corp. is a multi-jurisdictional gaming company, which engages in the management and operation of gaming and entertainment properties. It operates through the following segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. The Las Vegas Locals segment consists of eight casinos that primarily serve the resident population in the Las Vegas metropolitan area.