Boyd Gaming Co. (NYSE:BYD) Receives Average Rating of “Moderate Buy” from Brokerages

Boyd Gaming Co. (NYSE:BYD) has received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $90.23.

A number of brokerages recently weighed in on BYD. Barclays lifted their target price on shares of Boyd Gaming from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. StockNews.com upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Wells Fargo & Company lifted their price objective on shares of Boyd Gaming from $71.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Truist Financial lifted their price objective on shares of Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Macquarie cut 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.

Insider Transactions at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of Boyd Gaming stock in a transaction dated 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 transaction, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of Boyd Gaming stock in a transaction dated 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 transaction, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction dated 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 approximately $66,154.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 27.94% of the company’s stock.

Institutional Trading of Boyd Gaming

Institutional investors and hedge funds have recently bought and sold shares of the company. Retirement Systems of Alabama increased its stake in Boyd Gaming by 14.8% during the 1st quarter. Retirement Systems of Alabama now owns 223,978 shares of the company’s stock valued at $15,078,000 after purchasing an additional 28,844 shares in the last quarter. Sei Investments Co. increased its stake in Boyd Gaming by 14.7% during the 1st quarter. Sei Investments Co. now owns 398,823 shares of the company’s stock valued at $26,849,000 after purchasing an additional 51,252 shares in the last quarter. Alaska Permanent Fund Corp increased its stake in Boyd Gaming by 301.7% during the 1st quarter. Alaska Permanent Fund Corp now owns 28,120 shares of the company’s stock valued at $1,893,000 after purchasing an additional 21,120 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Boyd Gaming in the first quarter worth approximately $930,000. Finally, Banco Santander S.A. grew its stake in shares of Boyd Gaming by 34.0% in the first quarter. Banco Santander S.A. now owns 187,492 shares of the company’s stock worth $12,622,000 after acquiring an additional 47,606 shares during the period. 76.81% of the stock is currently owned by institutional investors.

Boyd Gaming Stock Performance

Shares of NYSE:BYD opened at $64.31 on Friday. The company’s 50 day moving average price is $62.20 and its two-hundred day moving average price is $58.44. Boyd Gaming has a 12-month low of $49.34 and a 12-month high of $68.46. The firm has a market cap of $6.10 billion, a PE ratio of 11.55 and a beta of 1.57. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70.

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

Boyd Gaming Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th were given a $0.17 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.06%. Boyd Gaming’s dividend payout ratio is 12.21%.

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.