Boyd Gaming Corp. (BYD) Downgraded by Zacks Investment Research to Hold
According to Zacks, “Headquartered in Las Vegas, Boyd Gaming Corporation is a leading diversified owner and operator of 22 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi and New Jersey. “
Several other research analysts have also issued reports on BYD. Gabelli reiterated a buy rating and set a $28.00 price objective on shares of Boyd Gaming Corp. in a research note on Monday. Telsey Advisory Group dropped their price objective on Boyd Gaming Corp. from $24.00 to $23.00 and set an outperform rating for the company in a research note on Thursday, August 4th. Finally, Deutsche Bank AG reiterated a buy rating on shares of Boyd Gaming Corp. in a research note on Sunday, June 26th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Boyd Gaming Corp. currently has an average rating of Buy and an average price target of $22.92.
Shares of Boyd Gaming Corp. (NYSE:BYD) opened at 19.04 on Tuesday. The company has a 50-day moving average of $19.28 and a 200 day moving average of $19.31. The firm has a market cap of $2.14 billion, a P/E ratio of 26.56 and a beta of 1.86. Boyd Gaming Corp. has a 12-month low of $14.22 and a 12-month high of $21.43.
Boyd Gaming Corp. (NYSE:BYD) last issued its earnings results on Wednesday, August 3rd. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by $0.14. The firm earned $544.90 million during the quarter, compared to analyst estimates of $561.27 million. Boyd Gaming Corp. had a net margin of 3.74% and a return on equity of 18.90%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. Equities analysts predict that Boyd Gaming Corp. will post $0.80 EPS for the current year.
In other Boyd Gaming Corp. news, insider Robert L. Boughner sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $19.81, for a total transaction of $990,500.00. Following the transaction, the insider now owns 144,560 shares of the company’s stock, valued at approximately $2,863,733.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marianne Boyd Johnson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $19.26, for a total value of $192,600.00. Following the transaction, the insider now directly owns 187,229 shares in the company, valued at approximately $3,606,030.54. The disclosure for this sale can be found here. 29.67% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its position in Boyd Gaming Corp. by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 35,700 shares of the company’s stock valued at $657,000 after buying an additional 100 shares during the period. ProShare Advisors LLC raised its position in Boyd Gaming Corp. by 2.6% in the second quarter. ProShare Advisors LLC now owns 11,906 shares of the company’s stock valued at $219,000 after buying an additional 297 shares during the period. 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 period. Nisa Investment Advisors LLC raised its position in Boyd Gaming Corp. by 1.7% in the second quarter. Nisa Investment Advisors LLC now owns 27,350 shares of the company’s stock valued at $503,000 after buying an additional 450 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its position in Boyd Gaming Corp. by 0.8% in the second quarter. Metropolitan Life Insurance Co. NY now owns 59,401 shares of the company’s stock valued at $1,093,000 after buying an additional 490 shares during the period. 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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