Boyd Gaming (NYSE:BYD) Given New $78.00 Price Target at Mizuho

Boyd Gaming (NYSE:BYD) had its price target cut by Mizuho from $80.00 to $78.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently issued reports on BYD. JPMorgan Chase & Co. cut shares of Boyd Gaming from an overweight rating to a neutral rating and decreased their price target for the stock from $80.00 to $67.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft cut Boyd Gaming from a buy rating to a hold rating and decreased their price objective for the stock from $78.00 to $71.00 in a report on Friday. Susquehanna reissued a neutral rating and issued a $75.00 price target (down from $84.00) on shares of Boyd Gaming in a research note on Monday, February 12th. Morgan Stanley increased their price objective on shares of Boyd Gaming from $71.00 to $72.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. Finally, Truist Financial increased their price target on shares of Boyd Gaming from $76.00 to $80.00 and gave the stock a buy rating in a research note on Friday, February 9th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $72.20.

Boyd Gaming Stock Up 1.4 %

BYD opened at $53.95 on Friday. Boyd Gaming has a one year low of $52.42 and a one year high of $73.00. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89. The business’s fifty day moving average is $63.80 and its two-hundred day moving average is $61.99. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 2.49 and a beta of 1.60.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. The business had revenue of $954.41 million during the quarter, compared to analysts’ expectations of $928.04 million. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.77%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the company posted $1.72 EPS. Analysts anticipate that Boyd Gaming will post 6.2 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.26%. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, March 14th. Boyd Gaming’s payout ratio is presently 12.21%.

Insider Activity at Boyd Gaming

In other news, COO Ted Bogich sold 41,631 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $64.79, for a total transaction of $2,697,272.49. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this link. In other news, COO Ted Bogich sold 41,631 shares of Boyd Gaming stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $64.79, for a total value of $2,697,272.49. Following the completion of the transaction, the chief operating officer now owns 66,803 shares in the company, valued at approximately $4,328,166.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 77,661 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.87, for a total value of $5,037,869.07. Following the sale, the chairman now directly owns 1,511,433 shares in the company, valued at $98,046,658.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 582,910 shares of company stock valued at $37,299,461. Insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BYD. Allspring Global Investments Holdings LLC boosted its holdings in shares of Boyd Gaming by 57.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after acquiring an additional 189 shares during the period. Parkside Financial Bank & Trust grew its holdings in Boyd Gaming by 105.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock worth $25,000 after buying an additional 211 shares in the last quarter. Great Lakes Advisors LLC raised its stake in Boyd Gaming by 3.7% during the 3rd quarter. Great Lakes Advisors LLC now owns 5,971 shares of the company’s stock valued at $363,000 after acquiring an additional 213 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Boyd Gaming by 0.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 31,457 shares of the company’s stock valued at $2,118,000 after purchasing an additional 264 shares in the last quarter. Finally, Lmcg Investments LLC lifted its holdings in Boyd Gaming by 2.2% in the third quarter. Lmcg Investments LLC now owns 12,257 shares of the company’s stock worth $746,000 after purchasing an additional 269 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

About Boyd Gaming

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.