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

Shares of Boyd Gaming Co. (NYSE:BYD) have received an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $95.07.

A number of analysts have commented on the company. Stifel Nicolaus decreased their price objective on Boyd Gaming from $82.00 to $71.00 and set a “hold” rating for the company in a report on Friday, April 25th. Wells Fargo & Company upped their price target on Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. JMP Securities restated a “market perform” rating on shares of Boyd Gaming in a research note on Friday, February 7th. StockNews.com lowered shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. Finally, Truist Financial dropped their price target on shares of Boyd Gaming from $92.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,125 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total transaction of $84,690.00. Following the sale, the director now owns 4,852 shares of the company’s stock, valued at $365,258.56. The trade was a 18.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William R. Boyd sold 15,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total value of $1,189,800.00. Following the completion of the transaction, the director now directly owns 1,472,970 shares of the company’s stock, valued at $116,835,980.40. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,125 shares of company stock worth $5,158,490. Company insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Several hedge funds and other institutional investors have recently modified their holdings of the stock. UMB Bank n.a. grew its stake in Boyd Gaming by 80.3% during the fourth quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after acquiring an additional 175 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Boyd Gaming by 47.4% during the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares in the last quarter. CoreCap Advisors LLC increased its holdings in shares of Boyd Gaming by 91.0% in the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock worth $42,000 after purchasing an additional 273 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Boyd Gaming in the third quarter worth $64,000. Finally, Golden State Wealth Management LLC bought a new stake in Boyd Gaming during the fourth quarter valued at $67,000. 76.81% of the stock is currently owned by institutional investors.

Boyd Gaming Price Performance

Shares of NYSE:BYD opened at $70.17 on Tuesday. Boyd Gaming has a twelve month low of $49.34 and a twelve month high of $80.50. The stock’s 50 day moving average is $67.47 and its 200-day moving average is $71.42. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 4.46 and a beta of 1.31.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.10. The firm had revenue of $991.57 million for the quarter, compared to analyst estimates of $976.38 million. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm earned $1.51 earnings per share. Sell-side analysts forecast that Boyd Gaming will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were paid a dividend of $0.18 per share. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, March 17th. This represents a $0.72 annualized dividend and a dividend yield of 1.03%. Boyd Gaming’s dividend payout ratio is presently 11.75%.

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.