Boyd Gaming Corp. (BYD) Given Buy Rating at Gabelli
BYD has been the subject of several other reports. Zacks Investment Research upgraded shares of Boyd Gaming Corp. from a hold rating to a buy rating and set a $22.00 price objective for the company in a research report on Tuesday, October 4th. Telsey Advisory Group decreased their price objective on shares of 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. Finally, Deutsche Bank AG reiterated a buy rating on shares of Boyd Gaming Corp. in a research report on Sunday, June 26th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $22.92.
Shares of Boyd Gaming Corp. (NYSE:BYD) traded up 1.553% during trading on Monday, reaching $19.295. 83,997 shares of the company’s stock were exchanged. Boyd Gaming Corp. has a 52-week low of $14.22 and a 52-week high of $21.43. The stock’s 50 day moving average price is $19.28 and its 200-day moving average price is $19.31. The stock has a market cap of $2.17 billion, a PE ratio of 26.911 and a beta of 1.86.
Boyd Gaming Corp. (NYSE:BYD) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.14. Boyd Gaming Corp. had a return on equity of 18.90% and a net margin of 3.74%. The firm had revenue of $544.90 million for the quarter, compared to analyst estimates of $561.27 million. During the same quarter last year, the company earned $0.24 earnings per share. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Boyd Gaming Corp. will post $0.80 EPS for the current year.
In related news, insider Robert L. Boughner sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $19.81, for a total transaction of $990,500.00. Following the transaction, the insider now directly owns 144,560 shares of the company’s stock, valued at $2,863,733.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marianne Boyd Johnson sold 89,360 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $19.83, for a total transaction of $1,772,008.80. Following the transaction, the executive vice president now directly owns 276,589 shares in the company, valued at $5,484,759.87. The disclosure for this sale can be found here. Corporate insiders own 29.67% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BYD. BlackRock Inc. raised its position in Boyd Gaming Corp. by 8.9% in the second quarter. BlackRock Inc. now owns 6,089 shares of the company’s stock worth $111,000 after buying an additional 500 shares during the last quarter. PineBridge Investments L.P. raised its position in Boyd Gaming Corp. by 4.1% in the second quarter. PineBridge Investments L.P. now owns 10,234 shares of the company’s stock worth $188,000 after buying an additional 403 shares during the last quarter. Laurion Capital Management LP purchased a new position in Boyd Gaming Corp. during the second quarter worth $206,000. Teacher Retirement System of Texas raised its position in Boyd Gaming Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 11,646 shares of the company’s stock worth $214,000 after buying an additional 1,410 shares during the last quarter. Finally, Zacks Investment Management purchased a new position in Boyd Gaming Corp. during the second quarter worth $218,000. 73.63% of the stock is currently owned by institutional investors.
About Boyd Gaming Corp.
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.
Receive News & Ratings for Boyd Gaming Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boyd Gaming Corp. and related companies with MarketBeat.com's FREE daily email newsletter.