Boyd Gaming (NYSE:BYD) Cut to Sell at ValuEngine

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ValuEngine lowered shares of Boyd Gaming (NYSE:BYD) from a hold rating to a sell rating in a research note published on Thursday, ValuEngine reports.

Several other equities research analysts have also weighed in on BYD. Morgan Stanley set a $10.00 price objective on Ford Motor and gave the stock a hold rating in a report on Friday, April 26th. Wolfe Research began coverage on Red Rock Resorts in a report on Friday, June 14th. They issued a peer perform rating for the company. Finally, TheStreet lowered AMERCO from a b rating to a c+ rating in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $35.11.

Shares of BYD opened at $26.43 on Thursday. The business has a 50-day moving average price of $26.23. Boyd Gaming has a fifty-two week low of $18.98 and a fifty-two week high of $39.35. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 19.87, a P/E/G ratio of 0.74 and a beta of 2.13. The company has a current ratio of 0.72, a quick ratio of 0.68 and a debt-to-equity ratio of 4.08.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. Boyd Gaming had a return on equity of 13.57% and a net margin of 4.18%. The company had revenue of $827.30 million during the quarter, compared to analyst estimates of $826.52 million. During the same quarter last year, the firm posted $0.39 EPS. The firm’s revenue for the quarter was up 36.5% on a year-over-year basis. As a group, sell-side analysts predict that Boyd Gaming will post 1.8 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Friday, June 14th. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.06. Boyd Gaming’s payout ratio is presently 21.05%.

Hedge funds have recently bought and sold shares of the business. Sageworth Trust Co purchased a new position in Boyd Gaming during the 1st quarter valued at about $28,000. State of Alaska Department of Revenue purchased a new position in Boyd Gaming during the 1st quarter valued at about $46,000. Strs Ohio grew its holdings in Boyd Gaming by 400.0% during the 1st quarter. Strs Ohio now owns 3,000 shares of the company’s stock valued at $82,000 after buying an additional 2,400 shares in the last quarter. HWG Holdings LP purchased a new position in Boyd Gaming during the 1st quarter valued at about $89,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Boyd Gaming by 21.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,776 shares of the company’s stock valued at $185,000 after buying an additional 1,217 shares in the last quarter. 66.26% of the stock is owned by institutional investors and hedge funds.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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