Zacks Investment Research upgraded shares of Boyd Gaming Corporation (NYSE:BYD) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.
According to Zacks, “Headquartered in Las Vegas, Boyd Gaming Corporation is a leading diversified owner and operator of 22 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi and New Jersey. “
A number of other research analysts have also recently commented on BYD. BidaskClub upgraded Boyd Gaming Corporation from a buy rating to a strong-buy rating in a report on Monday, July 24th. Telsey Advisory Group upped their price objective on Boyd Gaming Corporation from $29.00 to $30.00 and gave the company an outperform rating in a report on Friday, July 28th. Deutsche Bank AG reiterated a buy rating and issued a $29.00 price objective (down from $30.00) on shares of Boyd Gaming Corporation in a report on Sunday, July 30th. Barclays PLC upped their price objective on Boyd Gaming Corporation from $24.00 to $25.00 and gave the company an equal weight rating in a report on Tuesday, August 1st. Finally, ValuEngine upgraded Boyd Gaming Corporation from a hold rating to a buy rating in a report on Wednesday, September 6th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $27.47.
Shares of Boyd Gaming Corporation (BYD) traded down $0.38 during trading on Thursday, hitting $28.89. The stock had a trading volume of 865,928 shares, compared to its average volume of 1,292,424. The firm has a market cap of $3,310.00, a PE ratio of 25.02 and a beta of 1.82. Boyd Gaming Corporation has a fifty-two week low of $18.20 and a fifty-two week high of $29.89. The company has a current ratio of 0.73, a quick ratio of 0.74 and a debt-to-equity ratio of 2.95.
Boyd Gaming Corporation (NYSE:BYD) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Boyd Gaming Corporation had a net margin of 5.08% and a return on equity of 13.82%. The business had revenue of $587.70 million during the quarter, compared to analyst estimates of $592.29 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. research analysts forecast that Boyd Gaming Corporation will post 1.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Sunday, October 15th. Shareholders of record on Monday, September 18th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Friday, September 15th. Boyd Gaming Corporation’s dividend payout ratio (DPR) is 24.10%.
In other news, VP William R. Boyd sold 7,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.71, for a total transaction of $186,970.00. Following the sale, the vice president now owns 1,251 shares of the company’s stock, valued at $33,414.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert L. Boughner sold 40,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.70, for a total value of $1,068,000.00. Following the sale, the director now directly owns 40,000 shares in the company, valued at approximately $1,068,000. The disclosure for this sale can be found here. 29.16% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Marshall Wace North America L.P. increased its position in shares of Boyd Gaming Corporation by 441.4% during the second quarter. Marshall Wace North America L.P. now owns 230,849 shares of the company’s stock worth $5,771,000 after acquiring an additional 188,208 shares during the period. DSAM Partners London Ltd purchased a new stake in shares of Boyd Gaming Corporation during the second quarter worth $2,059,000. Schwab Charles Investment Management Inc. increased its position in shares of Boyd Gaming Corporation by 15.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 441,350 shares of the company’s stock worth $9,715,000 after acquiring an additional 58,537 shares during the period. Cipher Capital LP increased its position in shares of Boyd Gaming Corporation by 16.1% during the second quarter. Cipher Capital LP now owns 127,405 shares of the company’s stock worth $3,161,000 after acquiring an additional 17,635 shares during the period. Finally, Zweig DiMenna Associates LLC purchased a new stake in shares of Boyd Gaming Corporation during the second quarter worth $4,385,000. 74.63% of the stock is currently 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.
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