ValuEngine Lowers Boyd Gaming (NYSE:BYD) to Sell

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ValuEngine lowered shares of Boyd Gaming (NYSE:BYD) from a hold rating to a sell rating in a report issued on Thursday, ValuEngine reports.

Other research analysts have also issued research reports about the stock. TheStreet lowered shares of AMERCO from a b rating to a c+ rating in a report on Monday, March 25th. Wolfe Research initiated coverage on shares of Red Rock Resorts in a report on Friday, June 14th. They issued a peer perform rating on the stock. Finally, Morgan Stanley set a $10.00 price target on shares of Ford Motor and gave the company a hold rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $35.11.

NYSE BYD opened at $26.43 on Thursday. Boyd Gaming has a one year low of $18.98 and a one year high of $39.35. The firm has a 50 day simple moving average of $26.23. The company has a debt-to-equity ratio of 4.08, a current ratio of 0.72 and a quick ratio of 0.68. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 0.74 and a beta of 2.13.

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

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, June 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.06%. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.06. Boyd Gaming’s dividend payout ratio (DPR) is currently 21.05%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Pinnacle Associates Ltd. raised its stake in shares of Boyd Gaming by 19.4% during the first quarter. Pinnacle Associates Ltd. now owns 1,318,599 shares of the company’s stock valued at $36,077,000 after purchasing an additional 213,855 shares during the period. Norges Bank purchased a new stake in shares of Boyd Gaming during the fourth quarter valued at approximately $19,594,000. Bank of New York Mellon Corp raised its stake in shares of Boyd Gaming by 25.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,261,785 shares of the company’s stock valued at $26,219,000 after purchasing an additional 252,056 shares during the period. Squarepoint Ops LLC raised its stake in shares of Boyd Gaming by 106.7% during the fourth quarter. Squarepoint Ops LLC now owns 235,990 shares of the company’s stock valued at $4,904,000 after purchasing an additional 121,806 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new stake in shares of Boyd Gaming during the first quarter valued at approximately $3,677,000. Institutional investors own 66.26% of the company’s stock.

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.

Further Reading: Correction

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

Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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