Boyd Gaming Co. (NYSE:BYD) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Boyd Gaming Co. (NYSE:BYD) have earned an average recommendation of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $76.11.

BYD has been the subject of several analyst reports. Mizuho initiated coverage on Boyd Gaming in a research report on Tuesday, March 26th. They issued a “buy” rating and a $80.00 price objective for the company. Morgan Stanley increased their price objective on Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Wells Fargo & Company increased their price objective on Boyd Gaming from $81.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Truist Financial increased their price objective on Boyd Gaming from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Susquehanna restated a “neutral” rating and set a $75.00 price target (down from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th.

Insider Activity

In other news, Director A. Randall Thoman sold 2,500 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total value of $159,375.00. Following the sale, the director now directly owns 4,017 shares in the company, valued at $256,083.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Josh Hirsberg sold 22,654 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $64.75, for a total transaction of $1,466,846.50. Following the transaction, the chief financial officer now owns 415,184 shares of the company’s stock, valued at $26,883,164. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director A. Randall Thoman sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total value of $159,375.00. Following the transaction, the director now directly owns 4,017 shares in the company, valued at approximately $256,083.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 582,910 shares of company stock worth $37,299,461. Corporate insiders own 27.94% of the company’s stock.

Hedge Funds Weigh In On Boyd Gaming

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG boosted its holdings in Boyd Gaming by 23.3% in the 3rd quarter. Deutsche Bank AG now owns 230,397 shares of the company’s stock valued at $14,015,000 after purchasing an additional 43,578 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Boyd Gaming in the 4th quarter valued at approximately $117,720,000. Sei Investments Co. boosted its holdings in Boyd Gaming by 8.6% in the 3rd quarter. Sei Investments Co. now owns 243,365 shares of the company’s stock valued at $14,804,000 after purchasing an additional 19,256 shares in the last quarter. UBS Group AG boosted its holdings in Boyd Gaming by 4.9% in the 3rd quarter. UBS Group AG now owns 274,235 shares of the company’s stock valued at $16,682,000 after purchasing an additional 12,798 shares in the last quarter. Finally, Black Diamond Capital Management L.L.C. purchased a new stake in Boyd Gaming in the 3rd quarter valued at approximately $4,988,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Price Performance

NYSE:BYD opened at $62.89 on Friday. Boyd Gaming has a one year low of $52.42 and a one year high of $73.00. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a market cap of $6.02 billion, a PE ratio of 10.31, a P/E/G ratio of 2.98 and a beta of 1.60. The stock has a 50 day moving average price of $64.19 and a 200 day moving average price of $62.06.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $954.41 million during the quarter, compared to analyst estimates of $928.04 million. Boyd Gaming had a return on equity of 36.97% and a net margin of 16.58%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.72 earnings per share. Equities research analysts expect that Boyd Gaming will post 6.19 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a $0.17 dividend. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Thursday, March 14th. Boyd Gaming’s dividend payout ratio (DPR) is presently 11.15%.

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.