Boyd Gaming (NYSE:BYD) Downgraded to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft lowered shares of Boyd Gaming (NYSE:BYD) from a buy rating to a hold rating in a research note published on Friday morning, MarketBeat.com reports. The firm currently has $71.00 price objective on the stock, down from their prior price objective of $78.00.

Several other research analysts have also commented on BYD. Barclays upped their price objective on shares of Boyd Gaming from $66.00 to $67.00 and gave the stock an equal weight rating in a report on Friday, January 26th. StockNews.com upgraded shares of Boyd Gaming from a hold rating to a buy rating in a research note on Wednesday, January 24th. Mizuho began coverage on shares of Boyd Gaming in a research note on Tuesday, March 26th. They issued a buy rating and a $80.00 price target for the company. Truist Financial increased their price target on shares of Boyd Gaming from $76.00 to $80.00 and gave the stock a buy rating in a research note on Friday, February 9th. Finally, Susquehanna reiterated a neutral rating and issued a $75.00 price target (down from $84.00) on shares of Boyd Gaming in a research note on Monday, February 12th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $72.20.

Boyd Gaming Stock Down 15.4 %

Shares of NYSE BYD opened at $53.18 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. Boyd Gaming has a 12 month low of $52.42 and a 12 month high of $73.00. The firm has a market capitalization of $5.09 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 2.49 and a beta of 1.60. The firm has a fifty day simple moving average of $63.98 and a two-hundred day simple moving average of $62.03.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, February 8th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.77%. The business had revenue of $954.41 million during the quarter, compared to analyst estimates of $928.04 million. During the same period in the prior year, the business earned $1.72 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities analysts expect that Boyd Gaming will post 6.2 earnings per share for the current year.

Boyd Gaming Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a dividend of $0.17 per share. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Thursday, March 14th. Boyd Gaming’s dividend payout ratio (DPR) is currently 12.21%.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, major shareholder William S. Boyd sold 125,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the completion of the sale, the insider now directly owns 9,358,913 shares in the company, valued at approximately $596,817,882.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP William R. Boyd sold 50,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the sale, the vice president now owns 1,617,970 shares of the company’s stock, valued at $103,614,798.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder William S. Boyd sold 125,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the sale, the insider now directly owns 9,358,913 shares in the company, valued at approximately $596,817,882.01. The disclosure for this sale can be found here. In the last ninety days, insiders sold 582,910 shares of company stock worth $37,299,461. 27.94% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boyd Gaming

A number of hedge funds have recently bought and sold shares of BYD. Oak Thistle LLC purchased a new stake in Boyd Gaming during the third quarter valued at $805,000. Linden Thomas Advisory Services LLC increased its position in Boyd Gaming by 12.3% during the third quarter. Linden Thomas Advisory Services LLC now owns 12,738 shares of the company’s stock valued at $775,000 after acquiring an additional 1,392 shares during the last quarter. Raymond James & Associates increased its position in Boyd Gaming by 17.6% during the third quarter. Raymond James & Associates now owns 115,605 shares of the company’s stock valued at $7,032,000 after acquiring an additional 17,321 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Boyd Gaming during the third quarter valued at $1,898,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Boyd Gaming by 13.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,073 shares of the company’s stock valued at $917,000 after acquiring an additional 1,795 shares during the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

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.