Boyd Gaming (NYSE:BYD) Price Target Cut to $87.00 by Analysts at Susquehanna

Boyd Gaming (NYSE:BYD) had its price target reduced by Susquehanna from $89.00 to $87.00 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also recently issued reports about the company. Mizuho set a $100.00 target price on Boyd Gaming in a research report on Monday, February 2nd. Truist Financial set a $110.00 target price on Boyd Gaming in a research report on Tuesday, January 13th. Weiss Ratings restated a “buy (b)” rating on shares of Boyd Gaming in a research report on Monday, December 29th. Jefferies Financial Group restated a “buy” rating on shares of Boyd Gaming in a research report on Wednesday, December 24th. Finally, UBS Group set a $110.00 target price on Boyd Gaming in a research report on Wednesday, December 24th. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $92.42.

Boyd Gaming Price Performance

Shares of NYSE BYD opened at $83.24 on Tuesday. Boyd Gaming has a fifty-two week low of $60.11 and a fifty-two week high of $89.96. The stock has a fifty day moving average of $83.02 and a 200-day moving average of $83.36. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.52 and a current ratio of 0.54. The stock has a market cap of $6.27 billion, a PE ratio of 3.66, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, February 5th. The company reported $2.21 EPS for the quarter, topping the consensus estimate of $1.88 by $0.33. Boyd Gaming had a return on equity of 30.14% and a net margin of 45.05%.The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the business earned $1.96 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. Equities research analysts anticipate that Boyd Gaming will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.0%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, March 16th. Boyd Gaming’s dividend payout ratio is presently 3.52%.

Insiders Place Their Bets

In other news, Director William R. Boyd sold 30,000 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $84.84, for a total value of $2,545,200.00. Following the completion of the sale, the director owned 1,930,447 shares of the company’s stock, valued at approximately $163,779,123.48. The trade was a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Josh Hirsberg sold 23,924 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $85.86, for a total value of $2,054,114.64. Following the completion of the sale, the chief financial officer directly owned 435,746 shares of the company’s stock, valued at approximately $37,413,151.56. This trade represents a 5.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 73,454 shares of company stock valued at $6,231,827 over the last 90 days. Insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

A number of hedge funds and other institutional investors have recently modified their holdings of BYD. Advisors Asset Management Inc. lifted its stake in shares of Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after acquiring an additional 196 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Boyd Gaming by 13.9% in the 1st quarter. AQR Capital Management LLC now owns 9,623 shares of the company’s stock valued at $628,000 after acquiring an additional 1,172 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Boyd Gaming in the 1st quarter valued at about $207,000. Prudential Financial Inc. lifted its stake in shares of Boyd Gaming by 19.9% in the 2nd quarter. Prudential Financial Inc. now owns 10,939 shares of the company’s stock valued at $856,000 after acquiring an additional 1,816 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in shares of Boyd Gaming in the 2nd quarter valued at about $229,000. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.