Boyd Gaming Corporation (NYSE:BYD) Stock Has Average Price Target of $93.86

Boyd Gaming Corporation (NYSE:BYD) has been assigned an average rating of “Hold” from the sixteen research firms that are presently covering the company, Marketbeat reports. Ten research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $93.07.

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and raised their price target for the stock from $98.00 to $99.00 in a research note on Tuesday, October 6th. Susquehanna upped their price objective on Boyd Gaming from $84.00 to $87.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. upped their price objective on Boyd Gaming from $90.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Mizuho dropped their target price on Boyd Gaming from $104.00 to $102.00 and set an “outperform” rating for the company in a report on Wednesday, October 7th. Finally, Weiss Ratings raised Boyd Gaming from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday.

Boyd Gaming Price Performance

NYSE:BYD opened at $69.92 on Tuesday. The company has a 50-day moving average of $75.34 and a 200-day moving average of $81.99. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 3.08, a PEG ratio of 1.24 and a beta of 1.12. Boyd Gaming has a 52 week low of $65.00 and a 52 week high of $91.41. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.74 and a current ratio of 0.77.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.04. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. The firm’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $1.87 EPS. As a group, equities research analysts anticipate that Boyd Gaming will post 7.16 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Tuesday, September 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.80 annualized dividend and a yield of 1.1%. Boyd Gaming’s payout ratio is currently 3.52%.

Insiders Place Their Bets

In other Boyd Gaming news, CFO Josh Hirsberg sold 12,777 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total value of $1,146,863.52. Following the sale, the chief financial officer directly owned 422,969 shares in the company, valued at $37,965,697.44. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 22.82% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BYD. Blue Trust Inc. boosted its stake in shares of Boyd Gaming by 23.0% in the 1st quarter. Blue Trust Inc. now owns 653 shares of the company’s stock valued at $54,000 after purchasing an additional 122 shares in the last quarter. Assetmark Inc. increased its position in shares of Boyd Gaming by 9.1% during the 1st quarter. Assetmark Inc. now owns 1,553 shares of the company’s stock worth $128,000 after purchasing an additional 129 shares in the last quarter. Optas LLC increased its position in shares of Boyd Gaming by 4.1% during the 1st quarter. Optas LLC now owns 3,486 shares of the company’s stock worth $286,000 after purchasing an additional 138 shares in the last quarter. Altshuler Shaham Ltd lifted its holdings in Boyd Gaming by 54.3% during the 1st quarter. Altshuler Shaham Ltd now owns 452 shares of the company’s stock valued at $37,000 after purchasing an additional 159 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Boyd Gaming by 62.8% during the 1st quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock valued at $43,000 after purchasing an additional 203 shares during the last quarter. 76.81% of the stock is owned by institutional investors.

About Boyd Gaming

Boyd Gaming Corporation is a diversified gaming and entertainment company headquartered in Las Vegas, Nevada. The company owns and operates casinos, hotels, restaurants and entertainment venues, primarily serving regional and destination markets in the United States. Its properties offer casino gaming, including slot machines, table games and poker, along with hotel accommodations, dining, entertainment and other hospitality services.

Boyd Gaming operates properties under brands that include Sam’s Town, The Orleans, Gold Coast, Suncoast, Fremont and California Hotel and Casino in Nevada, as well as additional casinos in states such as Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Ohio and Pennsylvania.