Zacks Investment Research lowered shares of Boyd Gaming (NYSE:BYD) from a hold rating to a sell rating in a research report released on Friday.
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. “
Other equities research analysts have also recently issued research reports about the stock. Nomura increased their target price on shares of Boyd Gaming to $42.00 and gave the stock a buy rating in a research report on Tuesday, December 19th. Deutsche Bank increased their target price on shares of Boyd Gaming to $37.00 and gave the stock a buy rating in a research report on Wednesday, December 6th. Argus initiated coverage on shares of Boyd Gaming in a research report on Wednesday, January 17th. They set a buy rating and a $44.00 target price for the company. Bank of America upgraded shares of Boyd Gaming from a neutral rating to a buy rating and set a $42.00 target price for the company in a research report on Friday, January 5th. Finally, SunTrust Banks dropped their target price on shares of Boyd Gaming to $38.00 and set a buy rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. Boyd Gaming presently has a consensus rating of Buy and a consensus price target of $35.50.
Shares of Boyd Gaming (NYSE:BYD) traded up $1.22 during trading on Friday, hitting $35.27. 1,802,363 shares of the company were exchanged, compared to its average volume of 2,030,000. The firm has a market cap of $3,970.00, a PE ratio of 37.92 and a beta of 1.87. 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 1-year low of $19.39 and a 1-year high of $40.44.
Boyd Gaming (NYSE:BYD) last announced its earnings results on Tuesday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.04). The firm had revenue of $590.83 million for the quarter, compared to analyst estimates of $595.28 million. Boyd Gaming had a return on equity of 11.71% and a net margin of 7.94%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 EPS. equities analysts predict that Boyd Gaming will post 1.22 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Fortaleza Asset Management Inc. increased its position in Boyd Gaming by 80.7% in the 3rd quarter. Fortaleza Asset Management Inc. now owns 5,630 shares of the company’s stock valued at $147,000 after acquiring an additional 2,515 shares in the last quarter. Strs Ohio increased its position in Boyd Gaming by 177.8% in the 4th quarter. Strs Ohio now owns 5,000 shares of the company’s stock valued at $175,000 after acquiring an additional 3,200 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Boyd Gaming in the 4th quarter valued at about $183,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Boyd Gaming by 33.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,559 shares of the company’s stock valued at $195,000 after acquiring an additional 1,392 shares in the last quarter. Finally, Creative Planning acquired a new stake in Boyd Gaming in the 4th quarter valued at about $206,000. Hedge funds and other institutional investors own 77.33% of the company’s stock.
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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