Shares of Boyd Gaming Co. (NYSE:BYD – Get Free Report) have earned an average recommendation of “Moderate Buy” from the sixteen analysts that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $92.80.
Several research firms have recently weighed in on BYD. Truist Financial lifted their target price on shares of Boyd Gaming from $77.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Morgan Stanley lifted their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lifted their price objective on Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Jefferies Financial Group raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and increased their price target for the company from $73.00 to $92.00 in a research note on Friday, January 3rd. Finally, Stifel Nicolaus boosted their price objective on shares of Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a report on Friday, October 25th.
Read Our Latest Analysis on BYD
Insider Transactions at Boyd Gaming
Institutional Trading of Boyd Gaming
Several large investors have recently bought and sold shares of the company. UMB Bank n.a. increased its stake in shares of Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock worth $29,000 after purchasing an additional 175 shares in the last quarter. GAMMA Investing LLC increased its stake in Boyd Gaming by 47.4% during the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock worth $33,000 after acquiring an additional 148 shares during the last quarter. Covestor Ltd increased its position in shares of Boyd Gaming by 54.9% in the third quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after acquiring an additional 208 shares in the last quarter. Quarry LP raised its holdings in shares of Boyd Gaming by 150.1% during the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after buying an additional 524 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Boyd Gaming by 921.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after purchasing an additional 802 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.
Boyd Gaming Price Performance
NYSE:BYD opened at $75.34 on Friday. The firm’s fifty day moving average is $73.21 and its two-hundred day moving average is $66.23. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 4.21 and a beta of 1.54. Boyd Gaming has a one year low of $49.34 and a one year high of $76.73.
Boyd Gaming Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.68 annualized dividend and a dividend yield of 0.90%. Boyd Gaming’s dividend payout ratio (DPR) is currently 12.98%.
Boyd Gaming announced that its board has authorized a share repurchase program on Thursday, December 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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.
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