Mizuho Cuts Boyd Gaming (NYSE:BYD) Price Target to $78.00

Boyd Gaming (NYSE:BYD) had its price target cut by Mizuho from $80.00 to $78.00 in a research note published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

BYD has been the topic of a number of other reports. Truist Financial lifted their target price on Boyd Gaming from $76.00 to $80.00 and gave the stock a buy rating in a report on Friday, February 9th. Susquehanna restated a neutral rating and issued a $75.00 target price (down from $84.00) on shares of Boyd Gaming in a report on Monday, February 12th. Stifel Nicolaus restated a hold rating and issued a $69.00 target price on shares of Boyd Gaming in a report on Friday, January 5th. Morgan Stanley lifted their target price on Boyd Gaming from $71.00 to $72.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. Finally, StockNews.com upgraded Boyd Gaming from a hold rating to a buy rating in a report on Wednesday, January 24th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $72.20.

Boyd Gaming Stock Down 15.4 %

BYD opened at $53.18 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’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.

Boyd Gaming (NYSE:BYD) last posted 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. The company had revenue of $954.41 million for the quarter, compared to the consensus estimate of $928.04 million. Boyd Gaming had a return on equity of 34.77% and a net margin of 14.91%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.72 EPS. On average, equities analysts predict that Boyd Gaming will post 6.2 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

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

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, major shareholder William S. Boyd sold 63,464 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 8,795,449 shares in the company, valued at $555,168,740.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder William S. Boyd sold 63,464 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the completion of the sale, the insider now owns 8,795,449 shares in the company, valued at approximately $555,168,740.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 77,661 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.87, for a total value of $5,037,869.07. Following the sale, the chairman now owns 1,511,433 shares of the company’s stock, valued at approximately $98,046,658.71. The disclosure for this sale can be found here. Insiders have sold 582,910 shares of company stock worth $37,299,461 over the last 90 days. 27.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Boyd Gaming

Hedge funds have recently added to or reduced their stakes in the business. Deutsche Bank AG boosted its stake in Boyd Gaming by 23.3% during 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 during the period. International Assets Investment Management LLC bought a new stake in Boyd Gaming during the 4th quarter valued at approximately $117,720,000. Sei Investments Co. boosted its stake in Boyd Gaming by 8.6% during 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 during the period. UBS Group AG boosted its stake in Boyd Gaming by 4.9% during 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 during the period. Finally, Black Diamond Capital Management L.L.C. bought a new stake in Boyd Gaming during the 3rd quarter valued at approximately $4,988,000. Institutional investors 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.