Shares of Boyd Gaming Co. (NYSE:BYD – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $77.00.
A number of research analysts have issued reports on BYD shares. StockNews.com started coverage on shares of Boyd Gaming in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Morgan Stanley upgraded shares of Boyd Gaming from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $69.00 to $75.00 in a research report on Thursday, July 13th. Wells Fargo & Company upped their target price on shares of Boyd Gaming from $82.00 to $83.00 in a research report on Thursday, July 13th. Finally, Argus upped their target price on shares of Boyd Gaming from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 31st.
Insider Buying and Selling
Institutional Investors Weigh In On Boyd Gaming
Hedge funds have recently added to or reduced their stakes in the business. Boston Partners acquired a new stake in shares of Boyd Gaming during the first quarter worth $82,706,000. Ariel Investments LLC lifted its holdings in shares of Boyd Gaming by 63.4% during the first quarter. Ariel Investments LLC now owns 2,629,438 shares of the company’s stock worth $172,965,000 after buying an additional 1,020,515 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Boyd Gaming by 98.1% during the fourth quarter. Millennium Management LLC now owns 1,711,767 shares of the company’s stock worth $93,343,000 after buying an additional 847,797 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in shares of Boyd Gaming by 451.4% during the first quarter. Frontier Capital Management Co. LLC now owns 967,780 shares of the company’s stock worth $62,054,000 after buying an additional 792,277 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Boyd Gaming during the fourth quarter worth $41,625,000. Institutional investors and hedge funds own 67.98% of the company’s stock.
Boyd Gaming Stock Down 0.4 %
Shares of NYSE BYD opened at $64.69 on Thursday. The firm’s 50-day simple moving average is $67.55 and its 200 day simple moving average is $66.47. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 9.36, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 1.66. Boyd Gaming has a 12-month low of $46.10 and a 12-month high of $73.00.
Boyd Gaming (NYSE:BYD – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.02. The business had revenue of $916.95 million for the quarter, compared to the consensus estimate of $910.59 million. Boyd Gaming had a net margin of 19.61% and a return on equity of 41.56%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 EPS. On average, research analysts expect that Boyd Gaming will post 6.32 earnings per share for the current fiscal year.
Boyd Gaming Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Friday, September 15th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.64 dividend on an annualized basis and a yield of 0.99%. Boyd Gaming’s payout ratio is 9.26%.
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. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South.
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