Boyd Gaming Corporation (NYSE:BYD) Stock Has Average Price Target of $93.86

Shares of Boyd Gaming Corporation (NYSE:BYD) have been assigned a consensus recommendation of “Hold” from the sixteen analysts that are covering the company, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $93.07.

BYD has been the subject of a number of research analyst reports. Benchmark started coverage on shares of Boyd Gaming in a research report on Monday, June 22nd. They set a “buy” rating and a $100.00 target price for the company. Weiss Ratings raised Boyd Gaming from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Stifel Nicolaus raised their price target on Boyd Gaming from $91.00 to $92.00 and gave the company a “hold” rating in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft upgraded Boyd Gaming from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $98.00 to $99.00 in a research note on Tuesday, October 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Boyd Gaming from $90.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, CFO Josh Hirsberg sold 12,777 shares of Boyd Gaming stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total value of $1,146,863.52. Following the transaction, the chief financial officer directly owned 422,969 shares of the company’s stock, valued at $37,965,697.44. The trade was a 2.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 22.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On Boyd Gaming

Several hedge funds have recently modified their holdings of BYD. BlackRock Inc. acquired a new position in Boyd Gaming during the 2nd quarter valued at $486,737,000. Bank of America Corp DE bought a new stake in Boyd Gaming in the 2nd quarter valued at $70,043,000. Bamco Inc. NY bought a new stake in Boyd Gaming in the 2nd quarter valued at $41,184,000. Bank of New York Mellon Corp acquired a new stake in Boyd Gaming in the 2nd quarter worth $40,281,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Boyd Gaming by 18.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,755,659 shares of the company’s stock worth $149,652,000 after purchasing an additional 277,529 shares during the last quarter. 76.81% of the stock is owned by institutional investors.

Boyd Gaming Price Performance

Shares of Boyd Gaming stock opened at $71.07 on Tuesday. The firm has a fifty day simple moving average of $75.61 and a 200-day simple moving average of $82.08. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 1.05. Boyd Gaming has a 1-year low of $65.00 and a 1-year high of $91.41. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 3.13, a PEG ratio of 1.23 and a beta of 1.12.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.04. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm earned $1.87 EPS. Boyd Gaming’s quarterly revenue was up .0% compared to the same quarter last year. On average, sell-side analysts expect that Boyd Gaming will post 7.16 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. Boyd Gaming’s dividend payout ratio (DPR) is 3.52%.

Boyd Gaming Company Profile

Boyd Gaming Corporation is a diversified gaming and entertainment company headquartered in Las Vegas, Nevada. The company owns and operates casinos, hotels, restaurants and entertainment venues, primarily serving regional and destination markets in the United States. Its properties offer casino gaming, including slot machines, table games and poker, along with hotel accommodations, dining, entertainment and other hospitality services.

Boyd Gaming operates properties under brands that include Sam’s Town, The Orleans, Gold Coast, Suncoast, Fremont and California Hotel and Casino in Nevada, as well as additional casinos in states such as Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Ohio and Pennsylvania.