Boyd Gaming (NYSE:BYD) PT Raised to $75.00

Boyd Gaming (NYSE:BYD) had its price objective raised by Wells Fargo & Company from $71.00 to $75.00 in a research note released on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued reports about the company. StockNews.com raised Boyd Gaming from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Bank of America upped their target price on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Macquarie reduced their price target on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Morgan Stanley raised shares of Boyd Gaming from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $66.00 to $74.00 in a report on Wednesday, September 4th. Finally, Barclays lifted their target price on Boyd Gaming from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Boyd Gaming has an average rating of “Moderate Buy” and an average target price of $89.77.

Boyd Gaming Stock Performance

Shares of NYSE BYD opened at $64.97 on Thursday. The stock has a market cap of $6.16 billion, a PE ratio of 11.66 and a beta of 1.57. Boyd Gaming has a 1 year low of $49.34 and a 1 year high of $68.46. The firm has a fifty day moving average price of $61.59 and a 200-day moving average price of $58.44. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.83 and a quick ratio of 0.79.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $909.49 million. During the same quarter in the prior year, the business posted $1.58 EPS. Boyd Gaming’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts anticipate that Boyd Gaming will post 6.25 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Sunday, September 15th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, September 13th. This represents a $0.68 annualized dividend and a yield of 1.05%. Boyd Gaming’s payout ratio is presently 12.21%.

Insiders Place Their Bets

In other news, Director Christine J. Spadafor sold 1,242 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the sale, the director now owns 1,096 shares in the company, valued at approximately $66,154.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the transaction, the director now owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total value of $4,404,619.90. Following the sale, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 27.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BYD. Altshuler Shaham Ltd purchased a new stake in Boyd Gaming in the 2nd quarter valued at about $29,000. Allspring Global Investments Holdings LLC boosted 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 during the period. Blue Trust Inc. grew its stake in Boyd Gaming by 58.2% in the second quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after purchasing an additional 288 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Boyd Gaming during the 1st quarter worth $90,000. Finally, Covestor Ltd raised its position in Boyd Gaming by 132.6% during the 1st quarter. Covestor Ltd now owns 1,742 shares of the company’s stock valued at $117,000 after purchasing an additional 993 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors.

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.