Boyd Gaming Corp. (BYD) Trading Up 3.2%
Boyd Gaming Corp. (NYSE:BYD)’s share price was up 3.2% during trading on Tuesday . The company traded as high as $19.49 and last traded at $19.45, with a volume of 1,098,962 shares trading hands. The stock had previously closed at $18.84.
Several equities research analysts have issued reports on BYD shares. Zacks Investment Research upgraded shares of Boyd Gaming Corp. from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Wednesday, July 6th. Deutsche Bank AG reiterated a “buy” rating on shares of Boyd Gaming Corp. in a research report on Sunday, June 26th. Janney Montgomery Scott reiterated a “buy” rating on shares of Boyd Gaming Corp. in a research report on Wednesday, April 27th. Sterne Agee CRT reiterated a “buy” rating and set a $24.00 target price on shares of Boyd Gaming Corp. in a research report on Thursday, April 28th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Boyd Gaming Corp. in a research report on Tuesday, April 26th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $22.08.
The company has a 50-day moving average of $18.81 and a 200 day moving average of $18.70. The stock has a market cap of $2.17 billion and a P/E ratio of 27.03.
Boyd Gaming Corp. (NYSE:BYD) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by $0.14. During the same period in the prior year, the business posted $0.24 earnings per share. The business had revenue of $544.90 million for the quarter, compared to analyst estimates of $561.27 million. Boyd Gaming Corp.’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts anticipate that Boyd Gaming Corp. will post $0.90 EPS for the current year.
In other news, CEO Keith Smith sold 7,200 shares of the stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $19.40, for a total transaction of $139,680.00. Following the completion of the transaction, the chief executive officer now directly owns 910,603 shares in the company, valued at approximately $17,665,698.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul W. Whetsell bought 7,500 shares of the stock in a transaction dated Thursday, June 2nd. The shares were purchased at an average price of $19.52 per share, with a total value of $146,400.00. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at approximately $146,400. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System increased its position in Boyd Gaming Corp. by 12.4% in the fourth quarter. California Public Employees Retirement System now owns 113,000 shares of the company’s stock worth $2,245,000 after buying an additional 12,500 shares in the last quarter. Comerica Bank increased its position in Boyd Gaming Corp. by 0.3% in the fourth quarter. Comerica Bank now owns 68,208 shares of the company’s stock worth $1,267,000 after buying an additional 222 shares in the last quarter. New York State Common Retirement Fund increased its position in Boyd Gaming Corp. by 12.5% in the fourth quarter. New York State Common Retirement Fund now owns 391,913 shares of the company’s stock worth $7,787,000 after buying an additional 43,396 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Boyd Gaming Corp. by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 545,587 shares of the company’s stock worth $10,841,000 after buying an additional 23,024 shares in the last quarter.
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operates through five segments: Las Vegas Locals; Downtown Las Vegas; Midwest and South; Peninsula, and Borgata. The Las Vegas Locals Properties segment consists of Gold Coast Hotel and Casino, The Orleans Hotel and Casino, Sam’s Town Hotel and Gambling Hall, Suncoast Hotel and Casino, and Eldorado Casino and Jokers Wild Casino.
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