Boyd Gaming (NYSE:BYD) Upgraded at Susquehanna

Susquehanna upgraded shares of Boyd Gaming (NYSE:BYD) from a neutral rating to a positive rating in a report issued on Monday, Marketbeat reports. The brokerage currently has $83.00 target price on the stock, down from their previous target price of $87.00.

Several other analysts have also recently issued reports on BYD. Wolfe Research initiated coverage on shares of Boyd Gaming in a research note on Wednesday, September 2nd. They set a “peer perform” rating for the company. JPMorgan Chase & Co. increased their target price on Boyd Gaming from $90.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Barclays cut their target price on Boyd Gaming from $87.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Friday, October 9th. Morgan Stanley upgraded Boyd Gaming from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $89.00 to $83.00 in a report on Monday. Finally, Mizuho reduced their target price on Boyd Gaming from $104.00 to $102.00 and set an “outperform” rating on the stock in a report on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.93.

Boyd Gaming Stock Performance

NYSE:BYD opened at $70.57 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.05. The company has a market cap of $5.13 billion, a P/E ratio of 3.11, a P/E/G ratio of 1.27 and a beta of 1.12. Boyd Gaming has a fifty-two week low of $65.00 and a fifty-two week high of $91.41. The firm’s 50 day moving average is $74.67 and its two-hundred day moving average is $81.75.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.04. The company 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%. Boyd Gaming’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the business earned $1.87 EPS. Analysts expect that Boyd Gaming will post 7.12 EPS for the current year.

Boyd Gaming Dividend Announcement

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

Insider Transactions at Boyd Gaming

In related news, CFO Josh Hirsberg sold 12,777 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total value of $1,146,863.52. Following the transaction, the chief financial officer owned 422,969 shares in the company, valued at approximately $37,965,697.44. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 22.82% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd grew its stake in Boyd Gaming by 54.3% during the first quarter. Altshuler Shaham Ltd now owns 452 shares of the company’s stock worth $37,000 after buying an additional 159 shares during the period. Bessemer Group Inc. grew its stake in Boyd Gaming by 62.8% during the first quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock worth $43,000 after buying an additional 203 shares during the period. Blue Trust Inc. increased its position in shares of Boyd Gaming by 23.0% in the first quarter. Blue Trust Inc. now owns 653 shares of the company’s stock worth $54,000 after acquiring an additional 122 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Boyd Gaming in the second quarter worth $59,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Boyd Gaming in the second quarter worth $74,000. 76.81% of the stock is owned by institutional investors and hedge funds.

About Boyd Gaming

Boyd Gaming Corporation is a gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates casinos, hotels, restaurants, entertainment venues and related amenities under brands including Sam’s Town, The Orleans, Gold Coast, Suncoast and Fremont.

Boyd Gaming serves customers across several U.S. states, with a significant presence in Nevada as well as properties in the Midwest and South. Its portfolio includes destination resorts, regional casinos and racetracks offering slot machines, table games, poker, sports betting and other gaming experiences.

The company also operates online gaming and sports-wagering businesses in selected markets, including through partnerships and digital platforms.