Boyd Gaming (NYSE:BYD) Price Target Raised to $100.00

Boyd Gaming (NYSE:BYD) had its price objective lifted by Truist Financial from $85.00 to $100.00 in a research report report published on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

BYD has been the subject of several other research reports. Mizuho lowered their price target on shares of Boyd Gaming from $86.00 to $83.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley reissued a “sell” rating on shares of Boyd Gaming in a research note on Friday, July 11th. Macquarie reissued a “neutral” rating and set a $74.00 price objective on shares of Boyd Gaming in a research note on Friday, April 25th. JPMorgan Chase & Co. started coverage on shares of Boyd Gaming in a research note on Monday, June 23rd. They set a “neutral” rating and a $79.00 price objective on the stock. Finally, Stifel Nicolaus lifted their price target on shares of Boyd Gaming from $76.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, July 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $84.85.

Boyd Gaming Trading Down 0.3%

BYD opened at $82.16 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 2.57. The stock has a market capitalization of $6.69 billion, a PE ratio of 13.40, a PEG ratio of 2.97 and a beta of 1.26. Boyd Gaming has a 1-year low of $52.76 and a 1-year high of $87.76. The firm has a 50-day moving average price of $77.11 and a two-hundred day moving average price of $73.21.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data 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 13.96% and a return on equity of 38.34%. The firm had revenue of $991.57 million during the quarter, compared to analysts’ expectations of $976.38 million. During the same quarter last year, the company posted $1.51 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that Boyd Gaming will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Monday, June 16th. Boyd Gaming’s dividend payout ratio is presently 11.75%.

Hedge Funds Weigh In On Boyd Gaming

A number of institutional investors have recently added to or reduced their stakes in BYD. Norges Bank acquired a new position in Boyd Gaming during the fourth quarter worth $55,553,000. Raymond James Financial Inc. acquired a new position in Boyd Gaming during the fourth quarter worth $43,273,000. Arrowstreet Capital Limited Partnership increased its holdings in Boyd Gaming by 51.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company’s stock worth $94,074,000 after buying an additional 441,963 shares during the last quarter. Franklin Resources Inc. increased its holdings in Boyd Gaming by 37.2% during the fourth quarter. Franklin Resources Inc. now owns 964,051 shares of the company’s stock worth $69,932,000 after buying an additional 261,443 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Boyd Gaming during the first quarter worth $8,976,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

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.