Boyd Gaming Corporation (NYSE:BYD) Receives Consensus Rating of “Hold” from Analysts

Shares of Boyd Gaming Corporation (NYSE:BYD) have received a consensus rating of “Hold” from the sixteen analysts that are covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $94.6923.

A number of research analysts recently issued reports on the stock. Benchmark began coverage on shares of Boyd Gaming in a report on Monday, June 22nd. They issued a “buy” rating and a $100.00 price objective for the company. Barclays boosted their target price on shares of Boyd Gaming from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. Texas Capital upgraded shares of Boyd Gaming to a “strong-buy” rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. raised their price target on shares of Boyd Gaming from $90.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Morgan Stanley cut their price target on shares of Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating on the stock in a report on Monday, July 27th.

Boyd Gaming Trading Down 2.3%

Shares of BYD stock opened at $84.36 on Thursday. The firm has a market capitalization of $6.13 billion, a P/E ratio of 3.71, a P/E/G ratio of 2.11 and a beta of 1.08. Boyd Gaming has a twelve month low of $76.33 and a twelve month high of $91.41. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.05. The stock’s fifty day simple moving average is $87.05 and its 200 day simple moving average is $84.81.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 23rd. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.89 by $0.04. Boyd Gaming had a return on equity of 22.52% and a net margin of 44.34%.The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the company earned $1.87 earnings per share. The business’s quarterly revenue was up .0% on a year-over-year basis. As a group, sell-side analysts predict that Boyd Gaming will post 7.29 EPS for the current fiscal year.

Boyd Gaming declared that its Board of Directors has initiated a stock buyback program on Thursday, April 23rd that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 7.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, CFO Josh Hirsberg sold 12,777 shares of Boyd Gaming stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total transaction of $1,146,863.52. Following the transaction, the chief financial officer directly owned 422,969 shares of the company’s stock, valued at approximately $37,965,697.44. The trade was a 2.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Keith Smith sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total value of $8,590,000.00. Following the completion of the sale, the chief executive officer owned 996,981 shares in the company, valued at $85,640,667.90. This trade represents a 9.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 22.82% of the stock is owned by company insiders.

Institutional Trading of Boyd Gaming

Several institutional investors have recently added to or reduced their stakes in BYD. Altshuler Shaham Ltd bought a new position in Boyd Gaming during the 4th quarter worth approximately $25,000. Los Angeles Capital Management LLC acquired a new stake in shares of Boyd Gaming during the fourth quarter worth $25,000. Advisors Asset Management Inc. raised its stake in Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after buying an additional 196 shares during the last quarter. First Horizon Corp acquired a new position in Boyd Gaming in the fourth quarter valued at $41,000. Finally, Bessemer Group Inc. boosted its position in Boyd Gaming by 62.8% during the first quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock valued at $43,000 after acquiring an additional 203 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.