Boyd Gaming Corporation (NYSE:BYD) Given Consensus Rating of “Hold” by Brokerages

Shares of Boyd Gaming Corporation (NYSE:BYD) have earned a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $84.85.

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Boyd Gaming from $76.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, July 11th. Macquarie reissued a “neutral” rating and issued a $74.00 price target on shares of Boyd Gaming in a research note on Friday, April 25th. Barclays lifted their target price on shares of Boyd Gaming from $73.00 to $87.00 and gave the company an “equal weight” rating in a research note on Friday. Morgan Stanley restated a “sell” rating on shares of Boyd Gaming in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Boyd Gaming in a report on Monday, June 23rd. They issued a “neutral” rating and a $79.00 price objective for the company.

Boyd Gaming Trading Down 0.3%

Shares of BYD stock opened at $82.16 on Friday. The stock has a 50-day simple moving average of $77.11 and a 200 day simple moving average of $73.21. The stock has a market capitalization of $6.69 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.96 and a beta of 1.26. Boyd Gaming has a fifty-two week low of $52.76 and a fifty-two week high of $87.76. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 2.57.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.10. The firm had revenue of $991.57 million for the quarter, compared to analysts’ expectations of $976.38 million. Boyd Gaming had a return on equity of 38.34% and a net margin of 13.96%. Boyd Gaming’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $1.51 EPS. On average, sell-side analysts expect that Boyd Gaming will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.72 annualized dividend and a dividend yield of 0.88%. Boyd Gaming’s dividend payout ratio is presently 11.75%.

Institutional Investors Weigh In On Boyd Gaming

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cohen & Steers Inc. raised its holdings in Boyd Gaming by 0.4% during the 4th quarter. Cohen & Steers Inc. now owns 5,265,454 shares of the company’s stock worth $381,929,000 after purchasing an additional 21,616 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Boyd Gaming by 51.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company’s stock valued at $94,074,000 after acquiring an additional 441,963 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Boyd Gaming by 13.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company’s stock valued at $69,036,000 after purchasing an additional 122,822 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Boyd Gaming by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 983,823 shares of the company’s stock worth $64,765,000 after purchasing an additional 8,850 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Boyd Gaming by 37.2% in the fourth quarter. Franklin Resources Inc. now owns 964,051 shares of the company’s stock valued at $69,932,000 after buying an additional 261,443 shares during the period. 76.81% of the stock is owned by institutional investors and hedge funds.

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.