Boyd Gaming (NYSE:BYD) Lowered to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft cut shares of Boyd Gaming (NYSE:BYD) from a buy rating to a hold rating in a research note published on Friday, Marketbeat.com reports. Deutsche Bank Aktiengesellschaft currently has $71.00 target price on the stock, down from their previous target price of $78.00.

A number of other brokerages have also issued reports on BYD. Wells Fargo & Company raised their price target on Boyd Gaming from $81.00 to $82.00 and gave the stock an overweight rating in a research note on Friday, February 9th. Mizuho began coverage on Boyd Gaming in a research note on Tuesday, March 26th. They issued a buy rating and a $80.00 price objective on the stock. Truist Financial lifted their price objective on Boyd Gaming from $76.00 to $80.00 and gave the company a buy rating in a research note on Friday, February 9th. StockNews.com raised Boyd Gaming from a hold rating to a buy rating in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. lowered Boyd Gaming from an overweight rating to a neutral rating and reduced their price objective for the company from $80.00 to $67.00 in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $72.20.

Boyd Gaming Trading Down 15.4 %

Boyd Gaming stock opened at $53.18 on Friday. The stock has a market cap of $5.09 billion, a PE ratio of 9.55, a P/E/G ratio of 2.94 and a beta of 1.60. The stock has a 50-day moving average price of $63.98 and a 200 day moving average price of $62.01. Boyd Gaming has a 52 week low of $52.42 and a 52 week high of $73.00. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65.

Boyd Gaming (NYSE:BYD) last issued its quarterly 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. Boyd Gaming had a return on equity of 34.77% and a net margin of 14.91%. The firm had revenue of $954.41 million for the quarter, compared to analyst estimates of $928.04 million. During the same period last year, the company earned $1.72 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Equities research analysts predict that Boyd Gaming will post 6.19 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.28%. Boyd Gaming’s payout ratio is currently 12.21%.

Insider Activity

In other news, Director A. Randall Thoman sold 2,500 shares of the business’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 value of $159,375.00. Following the completion of the sale, the director now directly owns 4,017 shares in the company, valued at approximately $256,083.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder William S. Boyd sold 125,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the completion of the transaction, the insider now directly owns 9,358,913 shares in the company, valued at $596,817,882.01. The sale was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $63.75, for a total value of $159,375.00. Following the completion of the sale, the director now owns 4,017 shares in the company, valued at $256,083.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 582,910 shares of company stock worth $37,299,461. 27.94% of the stock is currently owned by insiders.

Institutional Trading of Boyd Gaming

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cascade Investment Advisors Inc. acquired a new stake in Boyd Gaming during the 1st quarter valued at $1,220,000. Assenagon Asset Management S.A. acquired a new stake in Boyd Gaming during the 1st quarter worth about $4,408,000. Louisiana State Employees Retirement System grew its stake in Boyd Gaming by 2.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the company’s stock valued at $1,346,000 after acquiring an additional 500 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Boyd Gaming by 1.0% in the 1st quarter. Amalgamated Bank now owns 47,733 shares of the company’s stock valued at $3,213,000 after purchasing an additional 486 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Boyd Gaming by 0.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 31,457 shares of the company’s stock worth $2,118,000 after purchasing an additional 264 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors.

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.