Boyd Gaming Co. (NYSE:BYD) Receives $91.42 Consensus Price Target from Analysts

Boyd Gaming Co. (NYSE:BYD – Get Free Report) has earned an average recommendation of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $90.92.

A number of equities research analysts have commented on BYD shares. Argus lowered shares of Boyd Gaming from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft lowered shares of Boyd Gaming from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $78.00 to $71.00 in a report on Friday, April 26th. StockNews.com lowered shares of Boyd Gaming from a “buy” rating to a “hold” rating in a report on Tuesday, June 4th. Truist Financial decreased their price objective on shares of Boyd Gaming from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Finally, Morgan Stanley decreased their price objective on shares of Boyd Gaming from $68.00 to $66.00 and set an “equal weight” rating on the stock in a report on Friday.

Get Our Latest Research Report on Boyd Gaming

Insiders Place Their Bets

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,874 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $53.38, for a total transaction of $100,034.12. Following the sale, the director now directly owns 2,338 shares in the company, valued at approximately $124,802.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 27.94% of the company’s stock.

Institutional Trading of Boyd Gaming

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cohen & Steers Inc. increased its holdings in Boyd Gaming by 34.4% during the fourth quarter. Cohen & Steers Inc. now owns 4,747,662 shares of the company’s stock worth $297,270,000 after buying an additional 1,216,121 shares during the last quarter. Norges Bank acquired a new position in Boyd Gaming during the fourth quarter worth $44,773,000. Boston Partners increased its holdings in Boyd Gaming by 29.5% during the fourth quarter. Boston Partners now owns 2,756,215 shares of the company’s stock worth $172,638,000 after buying an additional 628,512 shares during the last quarter. Scout Investments Inc. bought a new position in Boyd Gaming during the fourth quarter worth $18,091,000. Finally, American Century Companies Inc. boosted its position in Boyd Gaming by 40.5% during the third quarter. American Century Companies Inc. now owns 824,200 shares of the company’s stock worth $50,136,000 after purchasing an additional 237,525 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Boyd Gaming Trading Up 0.9 %

Shares of Boyd Gaming stock opened at $57.32 on Wednesday. The stock has a market capitalization of $5.44 billion, a P/E ratio of 10.29 and a beta of 1.58. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 1.61. The company has a 50-day simple moving average of $53.90 and a 200 day simple moving average of $60.03. Boyd Gaming has a 12-month low of $49.34 and a 12-month high of $73.00.

Boyd Gaming (NYSE:BYD – Get Free Report) last announced its earnings results on Thursday, April 25th. The company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). The firm had revenue of $960.52 million for the quarter, compared to analyst estimates of $947.26 million. Boyd Gaming had a return on equity of 34.76% and a net margin of 14.91%. Research analysts expect that Boyd Gaming will post 6.06 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Saturday, June 15th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Friday, June 14th. Boyd Gaming’s payout ratio is 12.21%.

Boyd Gaming declared that its board has authorized a stock repurchase program on Monday, May 13th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 9.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

About Boyd Gaming

(Get Free Report

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.

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