Boyd Gaming (NYSE:BYD) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Boyd Gaming (NYSE:BYD – Get Rating) in a research report released on Thursday morning. The firm issued a strong-buy rating on the stock.

A number of other research firms have also recently commented on BYD. Truist Financial increased their price target on shares of Boyd Gaming from $79.00 to $80.00 in a report on Wednesday, January 11th. CBRE Group upgraded shares of Boyd Gaming from a hold rating to a buy rating and set a $75.00 price target on the stock in a report on Friday, February 3rd. Morgan Stanley increased their price target on shares of Boyd Gaming from $60.00 to $62.00 and gave the company an underweight rating in a report on Wednesday, March 1st. JMP Securities cut shares of Boyd Gaming from an outperform rating to a market perform rating in a report on Monday, December 12th. Finally, Roth Capital initiated coverage on shares of Boyd Gaming in a report on Wednesday, January 18th. They set a buy rating and a $70.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $73.87.

Boyd Gaming Price Performance

Shares of BYD opened at $59.99 on Thursday. The stock has a market cap of $6.12 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 1.06 and a beta of 1.80. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 0.82. Boyd Gaming has a fifty-two week low of $46.10 and a fifty-two week high of $70.46. The firm’s 50-day simple moving average is $62.54 and its two-hundred day simple moving average is $57.75.

Boyd Gaming (NYSE:BYD – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.27. The business had revenue of $922.90 million for the quarter, compared to analysts’ expectations of $880.30 million. Boyd Gaming had a net margin of 17.98% and a return on equity of 42.63%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.35 earnings per share. Analysts anticipate that Boyd Gaming will post 5.87 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, April 15th. Shareholders of record on Wednesday, March 15th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 1.07%. Boyd Gaming’s dividend payout ratio (DPR) is presently 10.90%.

Insiders Place Their Bets

In other Boyd Gaming news, insider William S. Boyd sold 39,525 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $64.52, for a total value of $2,550,153.00. Following the transaction, the insider now directly owns 14,102,224 shares in the company, valued at $909,875,492.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Boyd Gaming news, CEO Keith Smith sold 25,000 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $64.05, for a total value of $1,601,250.00. Following the transaction, the chief executive officer now directly owns 1,297,562 shares in the company, valued at $83,108,846.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William S. Boyd sold 39,525 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $64.52, for a total transaction of $2,550,153.00. Following the completion of the transaction, the insider now owns 14,102,224 shares in the company, valued at $909,875,492.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 523,161 shares of company stock worth $34,312,098. Company insiders own 27.94% of the company’s stock.

Institutional Trading of Boyd Gaming

Institutional investors and hedge funds have recently modified their holdings of the company. CI Investments Inc. raised its position in shares of Boyd Gaming by 9,520.0% during the 4th quarter. CI Investments Inc. now owns 481 shares of the company’s stock valued at $26,000 after purchasing an additional 476 shares during the period. Lazard Asset Management LLC raised its position in shares of Boyd Gaming by 1,588.2% during the 2nd quarter. Lazard Asset Management LLC now owns 574 shares of the company’s stock valued at $28,000 after purchasing an additional 540 shares during the period. Allworth Financial LP raised its position in shares of Boyd Gaming by 20,983.3% during the 3rd quarter. Allworth Financial LP now owns 1,265 shares of the company’s stock valued at $60,000 after purchasing an additional 1,259 shares during the period. EverSource Wealth Advisors LLC bought a new stake in shares of Boyd Gaming during the 3rd quarter valued at $72,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Boyd Gaming during the 2nd quarter valued at $122,000. 68.68% of the stock is currently owned by institutional investors.

Boyd Gaming Company Profile

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Boyd Gaming Corp. is a multi-jurisdictional gaming company, which engages in the management and operation of gaming and entertainment properties. It operates through the following segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. The Las Vegas Locals segment consists of eight casinos that primarily serve the resident population in the Las Vegas metropolitan area.