Boyd Gaming Corp. (BYD) Earns “Buy” Rating from Gabelli
Boyd Gaming Corp. (NYSE:BYD)‘s stock had its “buy” rating reissued by equities research analysts at Gabelli in a report released on Monday. They presently have a $28.00 price target on the stock. Gabelli’s price objective would suggest a potential upside of 46.75% from the stock’s current price.
Several other analysts have also recently commented on the company. Zacks Investment Research upgraded Boyd Gaming Corp. from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Tuesday, October 4th. Telsey Advisory Group dropped their price target on Boyd Gaming Corp. from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, August 4th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Boyd Gaming Corp. in a research report on Sunday, June 26th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Boyd Gaming Corp. currently has an average rating of “Buy” and an average target price of $22.92.
Boyd Gaming Corp. (NYSE:BYD) traded up 0.21% during trading on Monday, reaching $19.04. The company’s stock had a trading volume of 247,140 shares. The firm has a 50-day moving average price of $19.31 and a 200-day moving average price of $19.34. The firm has a market capitalization of $2.14 billion, a P/E ratio of 26.56 and a beta of 1.86. Boyd Gaming Corp. has a 52 week low of $14.22 and a 52 week high of $21.43.
Boyd Gaming Corp. (NYSE:BYD) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.14. Boyd Gaming Corp. had a return on equity of 18.90% and a net margin of 3.74%. The firm had revenue of $544.90 million for the quarter, compared to analysts’ expectations of $561.27 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities analysts anticipate that Boyd Gaming Corp. will post $0.80 EPS for the current fiscal year.
In related news, insider William S. Boyd sold 76,531 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $19.75, for a total transaction of $1,511,487.25. Following the transaction, the insider now owns 184,386 shares of the company’s stock, valued at approximately $3,641,623.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Marianne Boyd Johnson sold 89,360 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $19.83, for a total value of $1,772,008.80. Following the transaction, the executive vice president now directly owns 276,589 shares in the company, valued at approximately $5,484,759.87. The disclosure for this sale can be found here. Corporate insiders own 29.67% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in Boyd Gaming Corp. by 81.4% in the first quarter. BlackRock Inc. now owns 5,589 shares of the company’s stock valued at $115,000 after buying an additional 2,508 shares during the last quarter. PineBridge Investments L.P. raised its position in Boyd Gaming Corp. by 4.1% in the second quarter. PineBridge Investments L.P. now owns 10,234 shares of the company’s stock valued at $188,000 after buying an additional 403 shares during the last quarter. Laurion Capital Management LP purchased a new position in Boyd Gaming Corp. during the second quarter valued at about $206,000. Teacher Retirement System of Texas raised its position in Boyd Gaming Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 11,646 shares of the company’s stock valued at $214,000 after buying an additional 1,410 shares during the last quarter. Finally, Zacks Investment Management purchased a new position in Boyd Gaming Corp. during the second quarter valued at about $218,000. 73.63% of the stock is currently owned by hedge funds and other institutional investors.
Boyd Gaming Corp. Company Profile
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operates through five segments: Las Vegas Locals; Downtown Las Vegas; Midwest and South; Peninsula, and Borgata. The Las Vegas Locals Properties segment consists of Gold Coast Hotel and Casino, The Orleans Hotel and Casino, Sam’s Town Hotel and Gambling Hall, Suncoast Hotel and Casino, and Eldorado Casino and Jokers Wild Casino.
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