Stifel Nicolaus Lowers Boyd Gaming (NYSE:BYD) Price Target to $71.00

Boyd Gaming (NYSE:BYD) had its target price lowered by Stifel Nicolaus from $82.00 to $71.00 in a report published on Friday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

BYD has been the subject of a number of other research reports. Morgan Stanley decreased their price target on shares of Boyd Gaming from $75.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price objective on Boyd Gaming from $74.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Jefferies Financial Group upgraded Boyd Gaming from a “hold” rating to a “buy” rating and raised their target price for the company from $73.00 to $92.00 in a report on Friday, January 3rd. Barclays lowered their price target on Boyd Gaming from $78.00 to $73.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Truist Financial reduced their target price on shares of Boyd Gaming from $92.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Boyd Gaming presently has a consensus rating of “Moderate Buy” and an average price target of $93.47.

Boyd Gaming Trading Up 4.5 %

NYSE BYD opened at $69.02 on Friday. Boyd Gaming has a one year low of $49.34 and a one year high of $80.50. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. The business has a 50 day simple moving average of $68.38 and a 200 day simple moving average of $71.09. The stock has a market capitalization of $5.70 billion, a P/E ratio of 11.10, a P/E/G ratio of 4.46 and a beta of 1.31.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.10. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. The firm had revenue of $991.57 million during the quarter, compared to the consensus estimate of $976.38 million. Research analysts expect that Boyd Gaming will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.04%. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, March 17th. Boyd Gaming’s dividend payout ratio is 11.58%.

Insider Transactions at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the transaction, the chairman now directly owns 1,346,628 shares of the company’s stock, valued at approximately $104,606,063.04. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christine J. Spadafor sold 1,125 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total transaction of $84,690.00. Following the transaction, the director now owns 4,852 shares in the company, valued at $365,258.56. The trade was a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,125 shares of company stock valued at $5,158,490 in the last quarter. Insiders own 27.94% of the company’s stock.

Hedge Funds Weigh In On Boyd Gaming

Several institutional investors and hedge funds have recently bought and sold shares of BYD. Barclays PLC increased its stake in shares of Boyd Gaming by 23.9% in the third quarter. Barclays PLC now owns 167,542 shares of the company’s stock worth $10,831,000 after buying an additional 32,332 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Boyd Gaming in the third quarter valued at about $64,000. GAMMA Investing LLC boosted its holdings 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 during the period. Miracle Mile Advisors LLC bought a new stake in shares of Boyd Gaming in the fourth quarter worth about $306,000. Finally, Burney Co. increased its holdings in Boyd Gaming by 7.7% during the 4th quarter. Burney Co. now owns 29,598 shares of the company’s stock valued at $2,147,000 after purchasing an additional 2,125 shares during the period. 76.81% of the stock is currently 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.