Boyd Gaming (NYSE:BYD) Coverage Initiated by Analysts at Raymond James

Raymond James initiated coverage on shares of Boyd Gaming (NYSE:BYDFree Report) in a research note published on Tuesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $67.00 price objective on the stock.

Several other equities research analysts have also recently commented on BYD. Deutsche Bank Aktiengesellschaft cut shares of Boyd Gaming from a buy rating to a hold rating and cut their price target for the stock from $78.00 to $71.00 in a research report on Friday, April 26th. Susquehanna reissued a neutral rating and set a $75.00 price target (down from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th. Stifel Nicolaus lowered their price objective on shares of Boyd Gaming from $71.00 to $65.00 and set a hold rating on the stock in a research note on Friday, April 26th. Royal Bank of Canada lowered their price objective on shares of Boyd Gaming from $337.00 to $308.00 and set an outperform rating on the stock in a research note on Thursday, May 16th. Finally, Argus lowered shares of Boyd Gaming from a buy rating to a hold rating in a research note on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $91.42.

Get Our Latest Report on Boyd Gaming

Boyd Gaming Trading Down 0.1 %

BYD opened at $55.06 on Tuesday. The firm’s fifty day simple moving average is $60.84 and its 200 day simple moving average is $61.62. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.61. Boyd Gaming has a 12 month low of $52.42 and a 12 month high of $73.00. The stock has a market capitalization of $5.22 billion, a P/E ratio of 9.89 and a beta of 1.64.

Boyd Gaming (NYSE:BYDGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.51 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.06). Boyd Gaming had a return on equity of 34.76% and a net margin of 14.91%. The business had revenue of $960.52 million for the quarter, compared to the consensus estimate of $947.26 million. As a group, research analysts anticipate that Boyd Gaming will post 6.06 EPS for the current fiscal year.

Boyd Gaming declared that its Board of Directors has approved a share buyback plan on Monday, May 13th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 9.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Boyd Gaming Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Saturday, June 15th will be paid a $0.17 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.24%. Boyd Gaming’s dividend payout ratio (DPR) is currently 12.21%.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, VP William R. Boyd sold 50,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the transaction, the vice president now owns 1,617,970 shares in the company, valued at approximately $103,614,798.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Boyd Gaming news, CFO Josh Hirsberg sold 22,654 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $64.75, for a total transaction of $1,466,846.50. Following the transaction, the chief financial officer now owns 415,184 shares in the company, valued at approximately $26,883,164. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP William R. Boyd sold 50,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the transaction, the vice president now owns 1,617,970 shares in the company, valued at approximately $103,614,798.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 463,618 shares of company stock worth $29,564,319. Insiders own 28.40% of the company’s stock.

Institutional Trading of Boyd Gaming

Institutional investors and hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust lifted its holdings in shares of Boyd Gaming by 105.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock worth $25,000 after acquiring an additional 211 shares during the period. Rakuten Securities Inc. bought a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $30,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Boyd Gaming by 57.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock worth $35,000 after acquiring an additional 189 shares during the period. Principal Securities Inc. bought a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $50,000. Finally, Allworth Financial LP lifted its holdings in shares of Boyd Gaming by 3,333.3% during the 4th quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock worth $64,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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