Boyd Gaming Corporation (NYSE:BYD) Receives $91.00 Consensus Target Price from Brokerages

Shares of Boyd Gaming Corporation (NYSE:BYD) have been given an average rating of “Hold” by the fifteen research firms that are presently covering the stock, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $91.8333.

Several equities research analysts have weighed in on BYD shares. Truist Financial set a $110.00 price objective on Boyd Gaming in a report on Tuesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Boyd Gaming in a research report on Monday, December 29th. Jefferies Financial Group reiterated a “buy” rating on shares of Boyd Gaming in a research report on Wednesday, December 24th. JPMorgan Chase & Co. raised their price objective on shares of Boyd Gaming from $87.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Finally, Mizuho increased their target price on Boyd Gaming from $89.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th.

Boyd Gaming Price Performance

Shares of Boyd Gaming stock opened at $89.59 on Friday. The company’s fifty day simple moving average is $83.83 and its two-hundred day simple moving average is $83.51. Boyd Gaming has a 12-month low of $58.94 and a 12-month high of $89.96. The firm has a market cap of $7.00 billion, a PE ratio of 3.92, a price-to-earnings-growth ratio of 1.58 and a beta of 1.22. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.71.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.57 by $0.15. The firm had revenue of $726.95 million during the quarter, compared to the consensus estimate of $873.09 million. Boyd Gaming had a net margin of 46.02% and a return on equity of 34.63%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 earnings per share. As a group, equities analysts expect that Boyd Gaming will post 6.52 EPS for the current year.

Boyd Gaming Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 15th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, December 15th. Boyd Gaming’s dividend payout ratio (DPR) is 3.15%.

Insider Buying and Selling

In other Boyd Gaming news, Director William R. Boyd sold 20,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $80.36, for a total value of $1,607,200.00. Following the sale, the director owned 1,960,447 shares in the company, valued at approximately $157,541,520.92. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 27.94% of the stock is owned by insiders.

Institutional Trading of Boyd Gaming

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Boyd Gaming by 219.8% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock worth $29,000 after acquiring an additional 255 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Boyd Gaming in the 2nd quarter worth about $39,000. True Wealth Design LLC increased its stake in Boyd Gaming by 162.1% during the 3rd quarter. True Wealth Design LLC now owns 532 shares of the company’s stock valued at $46,000 after purchasing an additional 329 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Boyd Gaming by 56.8% during the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after purchasing an additional 196 shares in the last quarter. Finally, SJS Investment Consulting Inc. purchased a new position in Boyd Gaming in the third quarter worth about $48,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.