Boyd Gaming Co. (NYSE:BYD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Boyd Gaming Co. (NYSE:BYD) has been assigned a consensus rating of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $90.23.

A number of research analysts have recently commented on the company. Truist Financial increased their price objective on Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Wells Fargo & Company increased their price objective on Boyd Gaming from $71.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Stifel Nicolaus increased their price objective on Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Bank of America increased their price objective on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th.

Boyd Gaming Price Performance

BYD opened at $64.31 on Friday. The stock’s 50-day moving average price is $62.20 and its 200 day moving average price is $58.44. The company has a current ratio of 0.83, a quick ratio of 0.79 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 $68.46. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 11.55 and a beta of 1.57.

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

Boyd Gaming Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, September 13th. This represents a $0.68 annualized dividend and a yield of 1.06%. Boyd Gaming’s dividend payout ratio (DPR) is currently 12.21%.

Insider Buying and Selling at Boyd Gaming

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

Institutional Investors Weigh In On Boyd Gaming

A number of institutional investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama raised its position in Boyd Gaming by 14.8% in the 1st quarter. Retirement Systems of Alabama now owns 223,978 shares of the company’s stock worth $15,078,000 after purchasing an additional 28,844 shares during the last quarter. Sei Investments Co. lifted its position in Boyd Gaming by 14.7% during the 1st quarter. Sei Investments Co. now owns 398,823 shares of the company’s stock worth $26,849,000 after buying an additional 51,252 shares in the last quarter. Alaska Permanent Fund Corp lifted its position in Boyd Gaming by 301.7% during the 1st quarter. Alaska Permanent Fund Corp now owns 28,120 shares of the company’s stock worth $1,893,000 after buying an additional 21,120 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Boyd Gaming in the 1st quarter valued at about $930,000. Finally, Banco Santander S.A. raised its holdings in shares of Boyd Gaming by 34.0% in the 1st quarter. Banco Santander S.A. now owns 187,492 shares of the company’s stock valued at $12,622,000 after purchasing an additional 47,606 shares during the period. 76.81% of the stock is owned by institutional investors and hedge funds.

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.