Boyd Gaming (NYSE:BYD) PT Lowered to $75.00 at Truist Financial

Boyd Gaming (NYSE:BYD) had its price target cut by Truist Financial from $80.00 to $75.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also issued reports on BYD. Wells Fargo & Company lifted their price target on shares of Boyd Gaming from $81.00 to $82.00 and gave the stock an overweight rating in a report on Friday, February 9th. Stifel Nicolaus reaffirmed a hold rating and issued a $69.00 price target on shares of Boyd Gaming in a report on Friday, January 5th. Deutsche Bank Aktiengesellschaft lowered shares of Boyd Gaming from a buy rating to a hold rating and cut their price target for the stock from $78.00 to $71.00 in a report on Friday. Barclays dropped their price objective on shares of Boyd Gaming from $70.00 to $68.00 and set an equal weight rating on the stock in a report on Friday. Finally, Morgan Stanley boosted their price objective on shares of Boyd Gaming from $71.00 to $72.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $72.20.

Boyd Gaming Stock Performance

Shares of NYSE:BYD opened at $53.18 on Friday. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 2.49 and a beta of 1.60. Boyd Gaming has a 52 week low of $52.42 and a 52 week high of $73.00. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.65. The firm has a 50 day moving average of $63.98 and a 200 day 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 analysts’ consensus estimates of $1.43 by $0.23. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.77%. The company had revenue of $954.41 million during the quarter, compared to the consensus estimate of $928.04 million. During the same quarter in the previous year, the firm posted $1.72 earnings per share. Boyd Gaming’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, sell-side analysts predict that Boyd Gaming will post 6.2 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.28%. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, March 14th. Boyd Gaming’s dividend payout ratio is presently 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 company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total value of $7,971,250.00. Following the sale, the insider now directly owns 9,358,913 shares of the company’s stock, valued at $596,817,882.01. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Boyd Gaming news, major shareholder William S. Boyd sold 63,464 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total value of $4,005,847.68. Following the completion of the transaction, the insider now owns 8,795,449 shares in the company, valued at $555,168,740.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder William S. Boyd sold 125,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the completion of the transaction, the insider now owns 9,358,913 shares of the company’s stock, valued at approximately $596,817,882.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 582,910 shares of company stock valued at $37,299,461. 27.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BYD. Oak Thistle LLC acquired a new position in shares of Boyd Gaming in the third quarter worth about $805,000. Linden Thomas Advisory Services LLC raised its position in shares of 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 purchasing an additional 1,392 shares during the last quarter. Raymond James & Associates raised its position in shares of 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 purchasing an additional 17,321 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Boyd Gaming during the 3rd quarter worth about $1,898,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 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 purchasing 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.