Zacks Investment Research upgraded shares of Boyd Gaming (NYSE:BYD) from a hold rating to a buy rating in a report issued on Wednesday. They currently have $39.00 target price on the stock.
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. “
BYD has been the topic of several other reports. Deutsche Bank boosted their price target on Boyd Gaming to $37.00 and gave the stock a buy rating in a research report on Wednesday, December 6th. Stifel Nicolaus reaffirmed a hold rating on shares of Boyd Gaming in a research report on Thursday, December 21st. Nomura upped their target price on Boyd Gaming to $42.00 and gave the company a buy rating in a research report on Tuesday, December 19th. Telsey Advisory Group upped their target price on Boyd Gaming from $30.00 to $31.00 and gave the company an outperform rating in a research report on Thursday, October 12th. Finally, Morgan Stanley set a $28.00 target price on Boyd Gaming and gave the company a hold rating in a research report on Tuesday, October 24th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $29.80.
Boyd Gaming (NYSE BYD) traded up $0.22 during trading on Wednesday, reaching $35.11. The company had a trading volume of 1,220,000 shares, compared to its average volume of 1,110,000. The firm has a market cap of $3,960.00, a price-to-earnings ratio of 42.30 and a beta of 1.82. The company has a quick ratio of 0.68, a current ratio of 0.73 and a debt-to-equity ratio of 2.95. Boyd Gaming has a 12-month low of $19.19 and a 12-month high of $35.96.
Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $587.70 million for the quarter, compared to analyst estimates of $592.29 million. Boyd Gaming had a return on equity of 13.82% and a net margin of 5.08%. The business’s revenue was up 10.5% on a year-over-year basis. During the same period last year, the firm posted $0.14 earnings per share. sell-side analysts anticipate that Boyd Gaming will post 1.04 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Thursday, December 28th will be issued a $0.05 dividend. The ex-dividend date is Wednesday, December 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.57%. Boyd Gaming’s dividend payout ratio (DPR) is 24.10%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. increased its holdings in shares of Boyd Gaming by 34.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 4,566,570 shares of the company’s stock valued at $118,959,000 after acquiring an additional 1,181,986 shares during the last quarter. State Street Corp increased its holdings in shares of Boyd Gaming by 4.0% in the 2nd quarter. State Street Corp now owns 1,951,576 shares of the company’s stock valued at $48,421,000 after acquiring an additional 75,012 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of Boyd Gaming by 10.4% in the 3rd quarter. Bamco Inc. NY now owns 1,528,617 shares of the company’s stock valued at $39,820,000 after acquiring an additional 143,680 shares during the last quarter. FMR LLC increased its holdings in shares of Boyd Gaming by 531.0% in the 2nd quarter. FMR LLC now owns 1,418,700 shares of the company’s stock valued at $35,199,000 after acquiring an additional 1,193,874 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Boyd Gaming in the 2nd quarter valued at approximately $26,973,000. Institutional investors and hedge funds own 76.22% of the company’s stock.
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About Boyd Gaming
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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