Boyd Gaming Corporation (NYSE:BYD) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Boyd Gaming Corporation (NYSE:BYD) have been given an average recommendation of “Hold” by the sixteen analysts that are currently covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $94.6923.

A number of equities research analysts have weighed in on BYD shares. Texas Capital upgraded shares of Boyd Gaming to a “strong-buy” rating in a research note on Wednesday, June 3rd. Benchmark initiated coverage on shares of Boyd Gaming in a research note on Monday, June 22nd. They issued a “buy” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Boyd Gaming from $90.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Wells Fargo & Company lifted their target price on shares of Boyd Gaming from $81.00 to $88.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 14th. Finally, The Goldman Sachs Group started coverage on shares of Boyd Gaming in a research note on Friday, June 26th. They issued a “neutral” rating and a $91.00 target price on the stock.

Boyd Gaming Trading Up 0.1%

NYSE:BYD opened at $79.67 on Monday. Boyd Gaming has a 12 month low of $76.33 and a 12 month high of $91.41. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 3.51, a P/E/G ratio of 1.97 and a beta of 1.08. 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’s 50 day moving average is $85.65 and its 200-day moving average is $84.49.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.04. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Boyd Gaming had a return on equity of 22.52% and a net margin of 44.34%.The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.87 EPS. Equities analysts anticipate that Boyd Gaming will post 7.29 EPS for the current year.

Boyd Gaming Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, September 15th. Boyd Gaming’s dividend payout ratio is 3.52%.

Insider Activity at Boyd Gaming

In other 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 transaction of $1,146,863.52. Following the transaction, the chief financial officer owned 422,969 shares of the company’s stock, 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 through this link. Also, CEO Keith Smith sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total transaction of $8,590,000.00. Following the completion of the transaction, the chief executive officer owned 996,981 shares in the company, valued at $85,640,667.90. This represents a 9.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 112,789 shares of company stock valued at $9,737,848. Company insiders own 22.82% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

A number of hedge funds have recently modified their holdings of the business. California State Teachers Retirement System boosted its position in shares of Boyd Gaming by 8,477.2% during the second quarter. California State Teachers Retirement System now owns 5,553,925 shares of the company’s stock worth $490,578,000 after buying an additional 5,489,173 shares during the period. BlackRock Inc. bought a new position in Boyd Gaming in the second quarter valued at approximately $486,737,000. Arrowstreet Capital Limited Partnership increased its position in shares of Boyd Gaming by 18.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,755,659 shares of the company’s stock worth $149,652,000 after purchasing an additional 277,529 shares during the last quarter. Invesco Ltd. increased its position in shares of Boyd Gaming by 118.2% during the 4th quarter. Invesco Ltd. now owns 1,427,828 shares of the company’s stock worth $121,708,000 after purchasing an additional 773,394 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Boyd Gaming by 11.1% during the 4th quarter. Franklin Resources Inc. now owns 1,357,412 shares of the company’s stock worth $115,706,000 after purchasing an additional 136,129 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

About Boyd Gaming

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.