Boyd Gaming Corp. (BYD) Sees Strong Trading Volume
Boyd Gaming Corp. (NYSE:BYD) shares saw strong trading volume on Thursday . 1,453,878 shares were traded during trading, an increase of 16% from the previous session’s volume of 1,250,110 shares.The stock last traded at $19.96 and had previously closed at $19.39.
A number of analysts recently issued reports on the company. Telsey Advisory Group reduced their price objective on Boyd Gaming Corp. from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, August 4th. Morgan Stanley restated a “hold” rating on shares of Boyd Gaming Corp. in a report on Tuesday, April 26th. Zacks Investment Research lowered Boyd Gaming Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 27th. Sterne Agee CRT restated a “buy” rating and set a $24.00 target price on shares of Boyd Gaming Corp. in a report on Thursday, April 28th. Finally, Janney Montgomery Scott restated a “buy” rating on shares of Boyd Gaming Corp. in a report on Wednesday, April 27th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Boyd Gaming Corp. currently has an average rating of “Buy” and a consensus target price of $22.08.
The stock has a market cap of $2.24 billion and a PE ratio of 27.89. The stock’s 50-day moving average is $18.85 and its 200 day moving average is $18.71.
Boyd Gaming Corp. (NYSE:BYD) last announced its earnings results on Wednesday, August 3rd. The company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.14. The company had revenue of $544.90 million for the quarter, compared to analysts’ expectations of $561.27 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts anticipate that Boyd Gaming Corp. will post $0.80 EPS for the current fiscal year.
In other news, CEO Keith Smith sold 7,200 shares of the stock in a transaction dated Thursday, June 9th. The shares were 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 document filed with the SEC, which is available at this link. Also, insider Marianne Boyd Johnson sold 10,000 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $19.26, for a total transaction of $192,600.00. Following the transaction, the insider now owns 187,229 shares of the company’s stock, valued at $3,606,030.54. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Boyd Gaming Corp. stock. Comerica Bank raised its position in Boyd Gaming Corp. (NYSE:BYD) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,208 shares of the company’s stock after buying an additional 222 shares during the period. Comerica Bank owned approximately 0.06% of Boyd Gaming Corp. worth $1,267,000 at the end of the most recent 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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