Boyd Gaming (NYSE:BYD) Price Target Lowered to $65.00 at Stifel Nicolaus

Boyd Gaming (NYSE:BYD) had its price target cut by Stifel Nicolaus from $71.00 to $65.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a hold rating on the stock.

Other research analysts also recently issued reports about the stock. Susquehanna restated a neutral rating and set a $75.00 target price (down from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th. StockNews.com upgraded shares of Boyd Gaming from a hold rating to a buy rating in a research report on Wednesday, January 24th. Barclays cut their target price on shares of Boyd Gaming from $70.00 to $68.00 and set an equal weight rating on the stock in a research report on Friday. Truist Financial cut their target price on shares of Boyd Gaming from $80.00 to $75.00 and set a buy rating on the stock in a research report on Friday. Finally, Wells Fargo & Company upped their target price on shares of Boyd Gaming from $81.00 to $82.00 and gave the company an overweight rating in a research report on Friday, February 9th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $72.20.

Boyd Gaming Stock Down 15.4 %

Shares of NYSE:BYD opened at $53.18 on Friday. The company’s fifty day moving average is $63.98 and its 200-day moving average is $62.03. The company has a market capitalization of $5.09 billion, a PE ratio of 9.55, a P/E/G ratio of 2.49 and a beta of 1.60. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89. Boyd Gaming has a 52 week low of $52.42 and a 52 week high of $73.00.

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

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a $0.17 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. Boyd Gaming’s dividend payout ratio is 12.21%.

Insider Activity

In related news, Director A. Randall Thoman sold 2,500 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total transaction of $159,375.00. Following the completion of the sale, the director now directly owns 4,017 shares of the company’s stock, valued at approximately $256,083.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director A. Randall Thoman sold 2,500 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total transaction of $159,375.00. Following the completion of the sale, the director now directly owns 4,017 shares of the company’s stock, valued at approximately $256,083.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder William S. Boyd sold 63,464 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total value of $4,005,847.68. Following the sale, the insider now directly owns 8,795,449 shares of the company’s stock, valued at $555,168,740.88. The disclosure for this sale can be found here. Insiders sold a total of 582,910 shares of company stock valued at $37,299,461 in the last ninety days. 27.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Boyd Gaming

A number of large investors have recently bought and sold shares of BYD. Oak Thistle LLC acquired a new position in Boyd Gaming during the 3rd quarter worth approximately $805,000. Linden Thomas Advisory Services LLC boosted its position in Boyd Gaming by 12.3% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 12,738 shares of the company’s stock worth $775,000 after acquiring an additional 1,392 shares during the last quarter. Raymond James & Associates boosted its position in Boyd Gaming by 17.6% during the 3rd quarter. Raymond James & Associates now owns 115,605 shares of the company’s stock worth $7,032,000 after acquiring an additional 17,321 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Boyd Gaming during the 3rd quarter worth approximately $1,898,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Boyd Gaming by 13.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,073 shares of the company’s stock worth $917,000 after acquiring an additional 1,795 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

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.