Boyd Gaming (NYSE:BYD) Lifted to “Hold” at ValuEngine

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ValuEngine upgraded shares of Boyd Gaming (NYSE:BYD) from a sell rating to a hold rating in a report released on Monday morning, ValuEngine reports.

Other research analysts have also recently issued research reports about the company. TheStreet upgraded Boyd Gaming from a c+ rating to a b rating in a research report on Monday, March 25th. Morgan Stanley set a $33.00 target price on Boyd Gaming and gave the stock a buy rating in a report on Friday, February 22nd. Finally, Wolfe Research initiated coverage on Boyd Gaming in a report on Friday, June 14th. They set an outperform rating and a $37.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Boyd Gaming presently has a consensus rating of Buy and an average price target of $35.11.

BYD stock opened at $27.88 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.68 and a debt-to-equity ratio of 4.08. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 0.76 and a beta of 2.16. Boyd Gaming has a fifty-two week low of $18.98 and a fifty-two week high of $39.35.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $827.30 million for the quarter, compared to analysts’ expectations of $826.52 million. Boyd Gaming had a return on equity of 13.57% and a net margin of 4.18%. The company’s quarterly revenue was up 36.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.39 EPS. As a group, equities analysts expect that Boyd Gaming will post 1.8 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.07 per share. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Friday, June 14th. Boyd Gaming’s dividend payout ratio is 21.05%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BYD. Sageworth Trust Co acquired a new stake in Boyd Gaming in the first quarter valued at about $28,000. Oregon Public Employees Retirement Fund boosted its stake in Boyd Gaming by 1,978.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 671,007 shares of the company’s stock valued at $32,000 after buying an additional 638,716 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Boyd Gaming in the first quarter valued at about $46,000. Strs Ohio boosted its stake in Boyd Gaming by 400.0% in the first quarter. Strs Ohio now owns 3,000 shares of the company’s stock valued at $82,000 after buying an additional 2,400 shares in the last quarter. Finally, HWG Holdings LP acquired a new stake in Boyd Gaming in the first quarter valued at about $89,000. 66.26% of the stock is currently owned by institutional investors.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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