Boyd Gaming (NYSE:BYD – Free Report) had its price objective boosted by Morgan Stanley from $71.00 to $72.00 in a research report report published on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.
Several other brokerages have also commented on BYD. Susquehanna restated a neutral rating and set a $75.00 price target (down previously from $84.00) on shares of Boyd Gaming in a research note on Monday, February 12th. Truist Financial raised their price target on Boyd Gaming from $76.00 to $80.00 and gave the company a buy rating in a research note on Friday, February 9th. Mizuho started coverage on Boyd Gaming in a research note on Tuesday, March 26th. They set a buy rating and a $80.00 price target on the stock. Wells Fargo & Company raised their price target on Boyd Gaming from $81.00 to $82.00 and gave the company an overweight rating in a research note on Friday, February 9th. Finally, StockNews.com upgraded Boyd Gaming from a hold rating to a buy rating in a research note on Wednesday, January 24th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $76.30.
Check Out Our Latest Report on Boyd Gaming
Boyd Gaming Stock Up 1.0 %
NYSE:BYD opened at $66.64 on Tuesday. Boyd Gaming has a twelve month low of $52.42 and a twelve month high of $73.00. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 3.05 and a beta of 1.60. The stock has a fifty day simple moving average of $64.39 and a 200-day simple moving average of $61.74. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65.
Boyd Gaming (NYSE:BYD – Get Free Report) last released its earnings results on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.23. The business had revenue of $954.41 million during the quarter, compared to the consensus estimate of $928.04 million. Boyd Gaming had a return on equity of 36.97% and a net margin of 16.58%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $1.72 earnings per share. Analysts anticipate that Boyd Gaming will post 6.21 EPS for the current year.
Boyd Gaming Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.02%. The ex-dividend date is Thursday, March 14th. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s payout ratio is 11.15%.
Insider Buying and Selling at Boyd Gaming
In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 77,661 shares of Boyd Gaming stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.87, for a total value of $5,037,869.07. Following the transaction, the chairman now owns 1,511,433 shares in the company, valued at $98,046,658.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 77,661 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.87, for a total value of $5,037,869.07. Following the completion of the sale, the chairman now owns 1,511,433 shares of the company’s stock, valued at $98,046,658.71. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Ted Bogich sold 41,631 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.79, for a total value of $2,697,272.49. Following the completion of the sale, the chief operating officer now directly owns 66,803 shares of the company’s stock, valued at approximately $4,328,166.37. The disclosure for this sale can be found here. Insiders have sold 582,910 shares of company stock worth $37,299,461 over the last quarter. Insiders own 28.40% of the company’s stock.
Institutional Investors Weigh In On Boyd Gaming
Institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust boosted its holdings in Boyd Gaming by 105.5% in the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock worth $25,000 after acquiring an additional 211 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in Boyd Gaming in the fourth quarter worth about $30,000. Belpointe Asset Management LLC boosted its holdings in Boyd Gaming by 237.6% in the first quarter. Belpointe Asset Management LLC now owns 655 shares of the company’s stock worth $42,000 after acquiring an additional 461 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Boyd Gaming during the fourth quarter worth about $50,000. Finally, Quarry LP lifted its holdings in shares of Boyd Gaming by 130.3% during the first quarter. Quarry LP now owns 822 shares of the company’s stock worth $53,000 after purchasing an additional 465 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.
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.
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