Boyd Gaming Co. (NYSE:BYD) Receives $95.20 Consensus Price Target from Brokerages

Boyd Gaming Co. (NYSE:BYD) has been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $95.20.

Several research firms recently weighed in on BYD. Truist Financial lifted their price target on Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Stifel Nicolaus boosted their target price on Boyd Gaming from $74.00 to $82.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Morgan Stanley downgraded Boyd Gaming from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $82.00 to $81.00 in a report on Monday, February 24th. Mizuho boosted their target price on Boyd Gaming from $79.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company boosted their target price on Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, February 7th.

Boyd Gaming Price Performance

Shares of BYD stock opened at $69.21 on Monday. The firm has a market cap of $5.80 billion, a P/E ratio of 11.13, a P/E/G ratio of 4.46 and a beta of 1.55. Boyd Gaming has a fifty-two week low of $49.34 and a fifty-two week high of $80.50. The business’s 50 day moving average price is $74.41 and its 200-day moving average price is $70.59. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. On average, equities research analysts anticipate that Boyd Gaming will post 6.52 earnings per share for the current year.

Boyd Gaming declared that its board has authorized a stock buyback program on Thursday, December 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 7.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Boyd Gaming Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a $0.18 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.72 annualized dividend and a dividend yield of 1.04%. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.17. Boyd Gaming’s payout ratio is currently 11.58%.

Insider Transactions at Boyd Gaming

In related news, Director William R. Boyd sold 15,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the completion of the sale, the director now owns 1,472,970 shares in the company, valued at approximately $116,835,980.40. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christine J. Spadafor sold 1,125 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total value of $84,690.00. Following the sale, the director now owns 4,852 shares of the company’s stock, valued at approximately $365,258.56. This trade represents a 18.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,125 shares of company stock worth $5,158,490 over the last quarter. 27.94% of the stock is currently owned by insiders.

Institutional Trading of Boyd Gaming

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in Boyd Gaming by 47.4% during the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $33,000 after acquiring an additional 148 shares during the last quarter. UMB Bank n.a. increased its position in Boyd Gaming by 80.3% during the fourth quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after acquiring an additional 175 shares during the last quarter. Cetera Trust Company N.A increased its position in Boyd Gaming by 6.2% in the fourth quarter. Cetera Trust Company N.A now owns 3,535 shares of the company’s stock worth $256,000 after buying an additional 205 shares in the last quarter. KBC Group NV increased its position in Boyd Gaming by 0.9% in the third quarter. KBC Group NV now owns 25,407 shares of the company’s stock worth $1,643,000 after buying an additional 232 shares in the last quarter. Finally, CoreCap Advisors LLC increased its position in Boyd Gaming by 91.0% in the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock worth $42,000 after buying an additional 273 shares in the last quarter. Hedge funds and other institutional investors 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.