Boyd Gaming Corporation (NYSE:BYD) Receives $94.69 Average Price Target from Brokerages

Boyd Gaming Corporation (NYSE:BYD) has been assigned a consensus recommendation of “Hold” from the sixteen analysts that are presently covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $94.6923.

A number of brokerages have weighed in on BYD. Barclays lifted their price target on shares of Boyd Gaming from $86.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. Texas Capital raised shares of Boyd Gaming to a “strong-buy” rating in a research note on Wednesday, June 3rd. The Goldman Sachs Group started coverage on shares of Boyd Gaming in a report on Friday, June 26th. They set a “neutral” rating and a $91.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of Boyd Gaming from $90.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, Stifel Nicolaus increased their price target on Boyd Gaming from $91.00 to $92.00 and gave the company a “hold” rating in a report on Friday, July 24th.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, CFO Josh Hirsberg sold 12,777 shares of the company’s 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 completion of the transaction, the chief financial officer owned 422,969 shares in the company, valued at $37,965,697.44. This represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith Smith sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $85.90, for a total value of $8,590,000.00. Following the completion of the transaction, the chief executive officer owned 996,981 shares of the company’s stock, valued at approximately $85,640,667.90. This represents a 9.12% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 112,789 shares of company stock valued at $9,737,848. Insiders own 22.82% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BYD. Altshuler Shaham Ltd acquired a new position in Boyd Gaming in the 4th quarter worth $25,000. Los Angeles Capital Management LLC purchased a new stake in shares of Boyd Gaming during the fourth quarter worth about $25,000. Bessemer Group Inc. increased its position in shares of Boyd Gaming by 62.8% during the first quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock worth $43,000 after acquiring an additional 203 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after acquiring an additional 196 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new position in shares of Boyd Gaming in the third quarter worth about $53,000. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Boyd Gaming Stock Down 0.6%

Shares of BYD opened at $80.66 on Monday. The firm has a market cap of $5.86 billion, a PE ratio of 3.55, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The company’s fifty day moving average is $85.86 and its two-hundred day moving average is $84.55. Boyd Gaming has a fifty-two week low of $76.33 and a fifty-two week high of $91.41. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.05.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, July 23rd. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Boyd Gaming had a return on equity of 22.52% and a net margin of 44.34%.The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.87 EPS. Analysts forecast that Boyd Gaming will post 7.29 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. Boyd Gaming’s dividend payout ratio (DPR) is 3.52%.

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.