Boyd Gaming Co. (NYSE:BYD) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Boyd Gaming Co. (NYSE:BYD) have earned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $76.11.

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Boyd Gaming from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Susquehanna reaffirmed a “neutral” rating and issued a $75.00 price target (down from $84.00) on shares of Boyd Gaming in a research note on Monday, February 12th. Wells Fargo & Company lifted their price target on Boyd Gaming from $81.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. StockNews.com raised Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. Finally, Mizuho initiated coverage on Boyd Gaming in a research note on Tuesday, March 26th. They issued a “buy” rating and a $80.00 price target on the stock.

Boyd Gaming Trading Down 1.1 %

NYSE BYD opened at $62.89 on Friday. The firm has a market capitalization of $6.02 billion, a P/E ratio of 10.31, a PEG ratio of 2.98 and a beta of 1.60. The business has a fifty day simple moving average of $64.19 and a 200 day simple moving average of $62.06. Boyd Gaming has a 12 month low of $52.42 and a 12 month high of $73.00. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.23. Boyd Gaming had a return on equity of 36.97% and a net margin of 16.58%. The company had revenue of $954.41 million during the quarter, compared to analyst estimates of $928.04 million. During the same quarter last year, the firm posted $1.72 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts predict that Boyd Gaming will post 6.19 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.08%. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s dividend payout ratio (DPR) is currently 11.15%.

Insider Buying and Selling

In related news, major shareholder William S. Boyd sold 63,464 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the completion of the transaction, the insider now directly owns 8,795,449 shares of the company’s stock, valued at $555,168,740.88. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, major shareholder William S. Boyd sold 63,464 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the completion of the transaction, the insider now directly owns 8,795,449 shares of the company’s stock, valued at $555,168,740.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director A. Randall Thoman sold 2,500 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total value of $159,375.00. Following the transaction, the director now directly owns 4,017 shares of the company’s stock, valued at $256,083.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 582,910 shares of company stock worth $37,299,461. 27.94% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boyd Gaming

Institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust lifted its stake in shares of Boyd Gaming by 105.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock valued at $25,000 after purchasing an additional 211 shares during the last quarter. Rakuten Securities Inc. bought a new stake in shares of Boyd Gaming in the 4th quarter valued at approximately $30,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Boyd Gaming by 57.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after purchasing an additional 189 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Boyd Gaming in the 4th quarter valued at approximately $50,000. Finally, Allworth Financial LP lifted its stake in shares of Boyd Gaming by 3,333.3% in the 4th quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock valued at $64,000 after purchasing an additional 1,000 shares during the last quarter. 76.81% of the stock is owned by institutional investors.

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.