Brokerages Set Boyd Gaming Co. (NYSE:BYD) Target Price at $95.07

Boyd Gaming Co. (NYSE:BYD) has been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $95.07.

Several research firms have recently issued reports on BYD. Stifel Nicolaus decreased their price target on Boyd Gaming from $82.00 to $71.00 and set a “hold” rating for the company in a research note on Friday, April 25th. Mizuho lowered their target price on shares of Boyd Gaming from $86.00 to $83.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Macquarie restated a “neutral” rating and set a $74.00 price target on shares of Boyd Gaming in a research report on Friday, April 25th. StockNews.com cut shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 27th. Finally, Susquehanna boosted their target price on Boyd Gaming from $75.00 to $76.00 and gave the stock a “positive” rating in a report on Friday, April 25th.

Insider Buying and Selling at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 50,000 shares of Boyd Gaming stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total value of $3,884,000.00. Following the transaction, the chairman now owns 1,346,628 shares in the company, valued at $104,606,063.04. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William R. Boyd sold 15,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the completion of the sale, the director now owns 1,472,970 shares in the company, valued at approximately $116,835,980.40. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,125 shares of company stock valued at $5,158,490 in the last 90 days. 21.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BYD. UMB Bank n.a. grew its holdings in 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 acquiring an additional 175 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 148 shares in the last quarter. CoreCap Advisors LLC grew its stake in Boyd Gaming by 91.0% in the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock valued at $42,000 after acquiring an additional 273 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Boyd Gaming in the 4th quarter valued at approximately $67,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Boyd Gaming during the third quarter worth $64,000. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Stock Performance

BYD stock opened at $71.58 on Tuesday. The firm has a market cap of $5.91 billion, a P/E ratio of 11.51, a P/E/G ratio of 4.46 and a beta of 1.32. The stock’s 50 day simple moving average is $67.18 and its 200 day simple moving average is $71.45. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. Boyd Gaming has a 12-month low of $49.34 and a 12-month high of $80.50.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.10. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. The business had revenue of $991.57 million for the quarter, compared to analysts’ expectations of $976.38 million. During the same period in the prior year, the firm earned $1.51 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts predict that Boyd Gaming will post 6.52 EPS for the current year.

Boyd Gaming Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.01%. Boyd Gaming’s dividend payout ratio is currently 11.75%.

Boyd Gaming Company Profile

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.