Analysts Set Boyd Gaming Corporation (NYSE:BYD) Price Target at $89.50

Boyd Gaming Corporation (NYSE:BYD) has earned a consensus rating of “Hold” from the fifteen research firms that are currently covering the stock, MarketBeat reports. Ten analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $89.50.

Several brokerages have weighed in on BYD. JPMorgan Chase & Co. upped their price target on Boyd Gaming from $87.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Macquarie restated a “neutral” rating and set a $90.00 target price on shares of Boyd Gaming in a research note on Friday, October 24th. Citigroup began coverage on shares of Boyd Gaming in a report on Thursday, November 20th. They issued a “neutral” rating and a $86.00 target price on the stock. Morgan Stanley boosted their price target on shares of Boyd Gaming from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. Finally, Zacks Research lowered shares of Boyd Gaming from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th.

Insider Buying and Selling

In other news, Director William R. Boyd sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the completion of the sale, the director owned 1,960,447 shares in the company, valued at approximately $157,541,520.92. The trade was a 1.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 21.97% of the stock is owned by corporate insiders.

Institutional Trading of Boyd Gaming

A number of large investors have recently made changes to their positions in BYD. Invesco Ltd. boosted its holdings in shares of Boyd Gaming by 0.8% in the first quarter. Invesco Ltd. now owns 471,822 shares of the company’s stock valued at $31,060,000 after acquiring an additional 3,686 shares during the period. Russell Investments Group Ltd. boosted its stake in Boyd Gaming by 39.9% during the 1st quarter. Russell Investments Group Ltd. now owns 42,348 shares of the company’s stock worth $2,788,000 after purchasing an additional 12,070 shares during the period. Raymond James Financial Inc. grew its position in Boyd Gaming by 7.5% during the 1st quarter. Raymond James Financial Inc. now owns 641,104 shares of the company’s stock worth $42,204,000 after purchasing an additional 44,558 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new position in Boyd Gaming in the first quarter valued at $230,000. Finally, Northern Trust Corp increased its stake in Boyd Gaming by 14.2% in the first quarter. Northern Trust Corp now owns 682,518 shares of the company’s stock valued at $44,930,000 after purchasing an additional 85,087 shares during the period. 76.81% of the stock is owned by institutional investors and hedge funds.

Boyd Gaming Stock Down 0.2%

Shares of BYD opened at $85.54 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.71. The firm has a market cap of $6.68 billion, a P/E ratio of 3.74, a price-to-earnings-growth ratio of 2.32 and a beta of 1.24. The company’s 50-day moving average price is $81.69 and its 200 day moving average price is $82.32. Boyd Gaming has a 12-month low of $58.94 and a 12-month high of $88.49.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share for the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 34.63%. The business had revenue of $707.32 million during the quarter. On average, sell-side analysts forecast that Boyd Gaming will post 6.52 earnings per share for the current year.

Boyd Gaming Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be issued a $0.18 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. Boyd Gaming’s dividend payout ratio is presently 3.15%.

About Boyd Gaming

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.