Boyd Gaming (NYSE:BYD) Price Target Lowered to $65.00 at Stifel Nicolaus

Boyd Gaming (NYSE:BYD) had its price objective cut by Stifel Nicolaus from $71.00 to $65.00 in a research report report published on Friday, Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Boyd Gaming from a buy rating to a hold rating and decreased their target price for the stock from $78.00 to $71.00 in a research report on Friday. Barclays decreased their target price on shares of Boyd Gaming from $70.00 to $68.00 and set an equal weight rating for the company in a research report on Friday. JPMorgan Chase & Co. downgraded shares of Boyd Gaming from an overweight rating to a neutral rating and decreased their target price for the stock from $80.00 to $67.00 in a research report on Friday. Truist Financial reduced their price objective on shares of Boyd Gaming from $80.00 to $75.00 and set a buy rating for the company in a research report on Friday. Finally, StockNews.com raised shares of Boyd Gaming from a hold rating to a buy rating in a research report on Wednesday, January 24th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $72.20.

Boyd Gaming Trading Down 15.4 %

BYD opened at $53.18 on Friday. Boyd Gaming has a 1-year low of $52.42 and a 1-year 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. The company has a market cap of $5.09 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 2.94 and a beta of 1.60. The company has a fifty day moving average price of $63.98 and a two-hundred day moving average price of $62.01.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.77%. The firm had revenue of $954.41 million during the quarter, compared to the consensus estimate of $928.04 million. During the same period in the previous year, the firm posted $1.72 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. Analysts predict that Boyd Gaming will post 6.19 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a $0.17 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost 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 dividend payout ratio is currently 12.21%.

Insiders Place Their Bets

In other Boyd Gaming news, major shareholder William S. Boyd sold 63,464 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total value of $4,005,847.68. Following the sale, the insider now directly owns 8,795,449 shares in the company, valued at approximately $555,168,740.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boyd Gaming news, COO Ted Bogich sold 41,631 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.79, for a total value of $2,697,272.49. Following the sale, the chief operating officer now directly owns 66,803 shares in the company, valued at approximately $4,328,166.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder William S. Boyd sold 63,464 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the completion of the transaction, the insider now directly owns 8,795,449 shares in the company, valued at approximately $555,168,740.88. The disclosure for this sale can be found here. Insiders have sold 582,910 shares of company stock worth $37,299,461 in the last three months. 27.94% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boyd Gaming

A number of institutional investors have recently made changes to their positions in the stock. Cascade Investment Advisors Inc. bought a new position in shares of Boyd Gaming in the 1st quarter worth $1,220,000. Assenagon Asset Management S.A. bought a new position in shares of Boyd Gaming in the 1st quarter worth $4,408,000. Louisiana State Employees Retirement System increased its holdings in shares of Boyd Gaming by 2.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the company’s stock worth $1,346,000 after buying an additional 500 shares during 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 worth $3,213,000 after buying an additional 486 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Boyd Gaming by 0.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 31,457 shares of the company’s stock worth $2,118,000 after buying an additional 264 shares during the last quarter. 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.