Boyd Gaming Corporation (NYSE:BYD) Receives $86.62 Average Price Target from Brokerages

Boyd Gaming Corporation (NYSE:BYD) has earned an average rating of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $86.6154.

A number of brokerages have issued reports on BYD. Susquehanna downgraded Boyd Gaming from a “positive” rating to a “neutral” rating and boosted their price target for the company from $76.00 to $86.00 in a report on Friday, July 11th. Mizuho boosted their price target on Boyd Gaming from $86.00 to $89.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Stifel Nicolaus boosted their price objective on Boyd Gaming from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 25th. Truist Financial upped their price target on Boyd Gaming from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Finally, JPMorgan Chase & Co. began coverage on Boyd Gaming in a research note on Monday, June 23rd. They issued a “neutral” rating and a $79.00 price target on the stock.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, insider Stephen S. Thompson sold 15,906 shares of Boyd Gaming stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $83.25, for a total transaction of $1,324,174.50. Following the transaction, the insider owned 38,609 shares of the company’s stock, valued at $3,214,199.25. The trade was a 29.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Marianne Boyd Johnson sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $84.17, for a total value of $8,417,000.00. Following the completion of the transaction, the chairman directly owned 1,504,379 shares in the company, valued at approximately $126,623,580.43. The trade was a 6.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,403 shares of company stock worth $18,426,446. 27.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Boyd Gaming

A number of institutional investors have recently modified their holdings of BYD. Parallel Advisors LLC grew its stake in shares of Boyd Gaming by 24.5% in the second quarter. Parallel Advisors LLC now owns 685 shares of the company’s stock valued at $54,000 after buying an additional 135 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Boyd Gaming by 24.2% in the second quarter. GAMMA Investing LLC now owns 960 shares of the company’s stock valued at $75,000 after purchasing an additional 187 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after purchasing an additional 196 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Boyd Gaming by 1.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the company’s stock worth $1,224,000 after buying an additional 200 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Boyd Gaming by 0.4% during the 1st quarter. State of Alaska Department of Revenue now owns 47,753 shares of the company’s stock worth $3,143,000 after buying an additional 205 shares during the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Boyd Gaming Price Performance

Shares of BYD stock opened at $83.45 on Thursday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86. Boyd Gaming has a fifty-two week low of $57.67 and a fifty-two week high of $87.76. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 2.37 and a beta of 1.24. The stock’s 50-day simple moving average is $81.32 and its 200-day simple moving average is $74.71.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, July 24th. The company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.20. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%.The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $976.81 million. During the same quarter in the previous year, the company posted $1.58 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts forecast that Boyd Gaming will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, September 15th. Boyd Gaming’s dividend payout ratio (DPR) is presently 11.08%.

Boyd Gaming Company Profile

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.