Brokerages Set Boyd Gaming Co. (NYSE:BYD) PT at $89.31

Boyd Gaming Co. (NYSE:BYD) has been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $89.31.

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Macquarie decreased their price objective on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Morgan Stanley raised shares of Boyd Gaming from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $66.00 to $74.00 in a report on Wednesday, September 4th. Bank of America boosted their target price on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, StockNews.com raised Boyd Gaming from a “hold” rating to a “buy” rating in a report on Monday, July 22nd.

Boyd Gaming Trading Down 0.2 %

BYD stock opened at $63.96 on Monday. Boyd Gaming has a 1-year low of $49.34 and a 1-year high of $68.46. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.70. The business’s 50 day moving average is $59.47 and its 200-day moving average is $58.44. The firm has a market cap of $5.87 billion, a P/E ratio of 11.48 and a beta of 1.57.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.49 by $0.09. Boyd Gaming had a return on equity of 34.29% and a net margin of 13.32%. The business had revenue of $967.50 million for the quarter, compared to analyst estimates of $909.49 million. During the same quarter in the previous year, the firm earned $1.58 EPS. Boyd Gaming’s quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts anticipate that Boyd Gaming will post 6.25 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. Boyd Gaming’s payout ratio is presently 12.21%.

Insider Activity

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of Boyd Gaming stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the completion of the sale, the chairman now owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction on Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the transaction, the director now directly owns 1,096 shares of the company’s stock, valued at $66,154.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the completion of the transaction, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. The disclosure for this sale can be found here. Insiders own 27.94% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Boyd Gaming by 57.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after purchasing an additional 189 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in Boyd Gaming in the 2nd quarter valued at approximately $29,000. Blue Trust Inc. boosted its position in Boyd Gaming by 58.2% during the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after acquiring an additional 288 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Boyd Gaming during the 1st quarter worth approximately $90,000. Finally, Covestor Ltd raised its holdings in shares of Boyd Gaming by 132.6% in the first quarter. Covestor Ltd now owns 1,742 shares of the company’s stock valued at $117,000 after purchasing an additional 993 shares during the last quarter. 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.