Boyd Gaming (NYSE:BYD) PT Raised to $77.00 at Truist Financial

Boyd Gaming (NYSE:BYD) had its target price boosted by Truist Financial from $75.00 to $77.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

BYD has been the topic of several other reports. StockNews.com upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Bank of America boosted their price target on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Macquarie lowered their price target on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Morgan Stanley upped their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Barclays upped their price objective on shares of Boyd Gaming from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Boyd Gaming has a consensus rating of “Moderate Buy” and an average target price of $91.38.

Boyd Gaming Trading Up 7.9 %

Boyd Gaming stock opened at $69.36 on Wednesday. The company’s fifty day simple moving average is $62.42 and its 200-day simple moving average is $58.40. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70. Boyd Gaming has a 12 month low of $49.34 and a 12 month high of $71.00. The stock has a market cap of $6.58 billion, a P/E ratio of 12.45 and a beta of 1.57.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.49 by $0.09. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The business had revenue of $967.50 million for the quarter, compared to analysts’ expectations of $909.49 million. During the same period in the previous year, the company posted $1.58 EPS. Boyd Gaming’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Boyd Gaming will post 6.25 EPS for the current fiscal year.

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Friday, September 13th. Boyd Gaming’s dividend payout ratio is 12.21%.

Insiders Place Their Bets

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the completion of the transaction, the director now owns 1,096 shares of the company’s stock, valued at $66,154.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the completion of the transaction, the chairman now owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the transaction, the director now directly owns 1,096 shares of the company’s stock, valued at $66,154.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 27.94% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Ariel Investments LLC raised its position in shares of Boyd Gaming by 12.5% during the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock valued at $167,046,000 after buying an additional 335,984 shares during the last quarter. Boston Partners raised its position in shares of Boyd Gaming by 10.0% during the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock valued at $203,276,000 after buying an additional 274,876 shares during the last quarter. Bamco Inc. NY raised its position in shares of Boyd Gaming by 4.0% during the first quarter. Bamco Inc. NY now owns 1,899,344 shares of the company’s stock valued at $127,864,000 after buying an additional 73,491 shares during the last quarter. American Century Companies Inc. raised its position in shares of Boyd Gaming by 19.7% during the second quarter. American Century Companies Inc. now owns 1,149,701 shares of the company’s stock valued at $63,349,000 after buying an additional 189,226 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Boyd Gaming by 0.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,002,438 shares of the company’s stock valued at $67,485,000 after acquiring an additional 3,087 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.