Boyd Gaming (NYSE:BYD) Now Covered by Mizuho

Mizuho began coverage on shares of Boyd Gaming (NYSE:BYD) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $80.00 price target on the stock.

A number of other research analysts have also issued reports on BYD. JPMorgan Chase & Co. lifted their target price on Boyd Gaming from $78.00 to $80.00 and gave the company an overweight rating in a report on Friday, February 9th. Susquehanna restated a neutral rating and set a $75.00 target price (down from $84.00) on shares of Boyd Gaming in a research note on Monday, February 12th. Barclays lifted their price target on shares of Boyd Gaming from $66.00 to $67.00 and gave the stock an equal weight rating in a research note on Friday, January 26th. StockNews.com upgraded shares of Boyd Gaming from a hold rating to a buy rating in a report on Wednesday, January 24th. Finally, Truist Financial raised their price objective on shares of Boyd Gaming from $76.00 to $80.00 and gave the company a buy rating in a report on Friday, February 9th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $76.20.

Boyd Gaming Stock Up 1.3 %

Shares of BYD opened at $67.28 on Tuesday. The company’s 50-day simple moving average is $64.00 and its 200-day simple moving average is $61.58. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89. Boyd Gaming has a 1 year low of $52.42 and a 1 year high of $73.00. The stock has a market capitalization of $6.44 billion, a PE ratio of 11.03, a P/E/G ratio of 3.04 and a beta of 1.60.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, February 8th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. The company had revenue of $954.41 million for the quarter, compared to analyst estimates of $928.04 million. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.72 EPS. Analysts forecast that Boyd Gaming will post 6.19 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.01%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, March 14th. Boyd Gaming’s dividend payout ratio (DPR) is 11.15%.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Director A. Randall Thoman sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total transaction of $159,375.00. Following the transaction, the director now owns 4,017 shares of the company’s stock, valued at $256,083.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Boyd Gaming news, VP William R. Boyd sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $64.04, for a total value of $3,202,000.00. Following the completion of the sale, the vice president now owns 1,617,970 shares in the company, valued at $103,614,798.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director A. Randall Thoman sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total transaction of $159,375.00. Following the transaction, the director now owns 4,017 shares in the company, valued at $256,083.75. The disclosure for this sale can be found here. Insiders sold a total of 582,910 shares of company stock valued at $37,299,461 over the last ninety days. Insiders own 27.94% of the company’s stock.

Institutional Trading of Boyd Gaming

Several institutional investors and hedge funds have recently bought and sold shares of BYD. Fuller & Thaler Asset Management Inc. increased its stake in Boyd Gaming by 885.4% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,657,441 shares of the company’s stock valued at $100,822,000 after purchasing an additional 1,489,240 shares during the period. Cohen & Steers Inc. increased its position in Boyd Gaming by 34.4% in the 4th quarter. Cohen & Steers Inc. now owns 4,747,662 shares of the company’s stock valued at $297,270,000 after acquiring an additional 1,216,121 shares during the period. Ariel Investments LLC raised its stake in Boyd Gaming by 63.4% during the 1st quarter. Ariel Investments LLC now owns 2,629,438 shares of the company’s stock valued at $172,965,000 after acquiring an additional 1,020,515 shares during the last quarter. Millennium Management LLC lifted its position in Boyd Gaming by 98.1% during the 4th quarter. Millennium Management LLC now owns 1,711,767 shares of the company’s stock worth $93,343,000 after acquiring an additional 847,797 shares during the period. Finally, Norges Bank acquired a new stake in Boyd Gaming during the 4th quarter worth approximately $41,625,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Company Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.