Analysts Set Boyd Gaming Corporation (BYD) PT at $27.36

Shares of Boyd Gaming Corporation (NYSE:BYD) have earned an average rating of “Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $27.36.

BYD has been the subject of a number of analyst reports. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $27.00 price target on shares of Boyd Gaming Corporation in a research note on Tuesday, October 24th. Deutsche Bank AG reiterated a “buy” rating and issued a $29.00 price target (down previously from $30.00) on shares of Boyd Gaming Corporation in a research note on Sunday, July 30th. Zacks Investment Research upgraded Boyd Gaming Corporation from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Wednesday, October 4th. ValuEngine upgraded Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Finally, BidaskClub upgraded Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th.

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Boyd Gaming Corporation (BYD) traded down $0.03 during trading hours on Friday, hitting $30.39. The stock had a trading volume of 951,100 shares, compared to its average volume of 1,287,600. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.73 and a quick ratio of 0.68. The stock has a market cap of $3,421.43, a price-to-earnings ratio of 25.78 and a beta of 1.82. Boyd Gaming Corporation has a 52-week low of $18.45 and a 52-week high of $30.74.

Boyd Gaming Corporation (NYSE:BYD) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). Boyd Gaming Corporation had a return on equity of 13.82% and a net margin of 5.08%. The business had revenue of $587.70 million during the quarter, compared to analysts’ expectations of $592.29 million. During the same quarter in the previous year, the company posted $0.14 EPS. The company’s quarterly revenue was up 10.5% on a year-over-year basis. research analysts anticipate that Boyd Gaming Corporation will post 1.05 earnings per share for the current year.

The firm also recently declared a monthly dividend, which was paid on Friday, October 27th. Investors of record on Saturday, September 30th were issued a $0.043 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Thursday, September 28th. Boyd Gaming Corporation’s payout ratio is 19.23%.

In other Boyd Gaming Corporation news, Director Robert L. Boughner sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $26.70, for a total value of $1,068,000.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at $1,068,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP William R. Boyd sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.71, for a total transaction of $186,970.00. Following the completion of the sale, the vice president now directly owns 1,251 shares of the company’s stock, valued at approximately $33,414.21. The disclosure for this sale can be found here. 29.16% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. lifted its stake in Boyd Gaming Corporation by 34.9% in the third quarter. Point72 Asset Management L.P. now owns 4,566,570 shares of the company’s stock worth $118,959,000 after purchasing an additional 1,181,986 shares during the last quarter. State Street Corp lifted its stake in Boyd Gaming Corporation by 4.0% in the second quarter. State Street Corp now owns 1,951,576 shares of the company’s stock worth $48,421,000 after purchasing an additional 75,012 shares during the last quarter. Bamco Inc. NY lifted its stake in Boyd Gaming Corporation by 10.4% in the third quarter. Bamco Inc. NY now owns 1,528,617 shares of the company’s stock worth $39,820,000 after purchasing an additional 143,680 shares during the last quarter. FMR LLC increased its position in shares of Boyd Gaming Corporation by 531.0% during the second quarter. FMR LLC now owns 1,418,700 shares of the company’s stock worth $35,199,000 after acquiring an additional 1,193,874 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Boyd Gaming Corporation during the second quarter worth approximately $26,973,000. 76.99% of the stock is owned by institutional investors and hedge funds.

About Boyd Gaming Corporation

Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.

Analyst Recommendations for Boyd Gaming Corporation (NYSE:BYD)

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