Boyd Gaming Corporation (NYSE:BYD) Stock Has Consensus Price Target of $89.46

Boyd Gaming Corporation (NYSE:BYD) has earned a consensus rating of “Moderate Buy” from the sixteen analysts that are covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $89.46.

Several research firms have recently commented on BYD. Stifel Nicolaus dropped their target price on shares of Boyd Gaming from $92.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, October 23rd. Truist Financial set a $95.00 target price on shares of Boyd Gaming in a research note on Friday, October 23rd. Susquehanna upgraded shares of Boyd Gaming from a “neutral” rating to a “positive” rating and reduced their price target for the company from $87.00 to $83.00 in a research report on Monday, October 19th. The Goldman Sachs Group set a $80.00 price target on shares of Boyd Gaming in a research note on Tuesday, October 13th. Finally, Weiss Ratings downgraded shares of Boyd Gaming from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 29th.

Boyd Gaming Stock Up 1.6%

Shares of NYSE:BYD opened at $77.80 on Friday. The firm has a market capitalization of $5.50 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 1.45 and a beta of 1.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.31 and a current ratio of 0.33. Boyd Gaming has a 52-week low of $65.00 and a 52-week high of $91.41. The firm has a fifty day moving average of $72.85 and a 200 day moving average of $81.57.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, October 22nd. The company reported $1.67 EPS for the quarter, meeting the consensus estimate of $1.67. The company had revenue of $990.46 million for the quarter, compared to analyst estimates of $1 billion. Boyd Gaming had a net margin of 12.29% and a return on equity of 22.32%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.72 EPS. As a group, research analysts anticipate that Boyd Gaming will post 7.12 EPS for the current fiscal year.

Boyd Gaming Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, September 15th. Boyd Gaming’s payout ratio is 12.08%.

Institutional Trading of Boyd Gaming

Institutional investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd increased its position in Boyd Gaming by 54.3% in the first quarter. Altshuler Shaham Ltd now owns 452 shares of the company’s stock worth $37,000 after buying an additional 159 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Boyd Gaming by 62.8% in the first quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock worth $43,000 after buying an additional 203 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Boyd Gaming during the 2nd quarter valued at about $59,000. Heritage Family Offices LLP purchased a new position in shares of Boyd Gaming during the 3rd quarter valued at about $64,000. Finally, Persistent Asset Partners Ltd purchased a new position in shares of Boyd Gaming during the 2nd quarter valued at about $74,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

About Boyd Gaming

Boyd Gaming Corporation is a U.S. casino and hospitality company that owns and operates gaming, hotel, dining and entertainment properties. Its portfolio includes casinos serving local customers in Las Vegas as well as resorts and regional gaming destinations in several states.

The company was founded in 1975 by Sam Boyd and his son, Bill Boyd, and began with the opening of the California Hotel and Casino in downtown Las Vegas. Boyd Gaming is headquartered in Las Vegas and operates properties across multiple U.S.