TheStreet Upgrades Boyd Gaming Corp. (BYD) to Buy
Boyd Gaming Corp. (NYSE:BYD) was upgraded by research analysts at TheStreet from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.
BYD has been the subject of a number of other reports. Zacks Investment Research raised Boyd Gaming Corp. from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Tuesday, October 4th. Deutsche Bank AG decreased their target price on Boyd Gaming Corp. from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, November 2nd. Telsey Advisory Group decreased their target price 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, Gabelli reissued a “buy” rating and issued a $28.00 target price on shares of Boyd Gaming Corp. in a research note on Monday, October 17th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $22.58.
Shares of Boyd Gaming Corp. (NYSE:BYD) opened at 18.82 on Wednesday. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 5.43 and a beta of 1.69. Boyd Gaming Corp. has a 12 month low of $14.22 and a 12 month high of $21.43. The firm’s 50-day moving average price is $18.72 and its 200-day moving average price is $18.94.
Boyd Gaming Corp. (NYSE:BYD) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. The company earned $531.90 million during the quarter, compared to the consensus estimate of $543.13 million. Boyd Gaming Corp. had a net margin of 18.37% and a return on equity of 13.66%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 EPS. On average, equities analysts anticipate that Boyd Gaming Corp. will post $0.79 earnings per share for the current year.
In other Boyd Gaming Corp. news, insider Robert L. Boughner sold 50,000 shares of the company’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 value of $990,500.00. Following the sale, the insider now owns 144,560 shares in the company, valued at $2,863,733.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP William R. Boyd sold 20,500 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $19.78, for a total value of $405,490.00. Following the completion of the sale, the vice president now owns 18,027 shares in the company, valued at approximately $356,574.06. The disclosure for this sale can be found here. 29.67% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. First Republic Investment Management Inc. purchased a new position in shares of Boyd Gaming Corp. during the first quarter worth $109,697,000. Bridger Management LLC bought a new position in Boyd Gaming Corp. during the first quarter worth approximately $19,795,000. Lodge Hill Capital LLC bought a new position in Boyd Gaming Corp. during the second quarter worth approximately $17,112,000. Scopus Asset Management L.P. bought a new position in Boyd Gaming Corp. during the third quarter worth approximately $16,813,000. Finally, Numeric Investors LLC raised its position in Boyd Gaming Corp. by 577.6% in the second quarter. Numeric Investors LLC now owns 916,747 shares of the company’s stock worth $16,868,000 after buying an additional 781,447 shares during the period. Hedge funds and other institutional investors own 72.83% of the company’s stock.
About Boyd Gaming Corp.
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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