Boyd Gaming Corporation (BYD) Cut to “Buy” at BidaskClub
BidaskClub cut shares of Boyd Gaming Corporation (NYSE:BYD) from a strong-buy rating to a buy rating in a research note released on Wednesday.
A number of other equities analysts also recently issued reports on BYD. Zacks Investment Research upgraded Boyd Gaming Corporation from a hold rating to a strong-buy rating and set a $25.00 price objective for the company in a report on Tuesday, April 18th. Telsey Advisory Group increased their price objective on Boyd Gaming Corporation from $23.00 to $26.00 and gave the stock an outperform rating in a report on Wednesday, May 3rd. Cann upgraded Boyd Gaming Corporation to a buy rating and increased their price objective for the stock from $20.00 to $27.00 in a report on Wednesday, May 3rd. They noted that the move was a valuation call. Deutsche Bank AG reiterated a buy rating and issued a $26.00 price objective (up previously from $25.00) on shares of Boyd Gaming Corporation in a report on Wednesday, May 3rd. Finally, Aegis reiterated a buy rating and issued a $27.00 price objective (up previously from $26.00) on shares of Boyd Gaming Corporation in a report on Wednesday, May 3rd. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Boyd Gaming Corporation currently has a consensus rating of Buy and an average price target of $26.87.
Shares of Boyd Gaming Corporation (NYSE:BYD) opened at 26.02 on Wednesday. Boyd Gaming Corporation has a 52 week low of $16.77 and a 52 week high of $26.67. The firm’s 50-day moving average is $25.30 and its 200-day moving average is $22.86. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 6.87 and a beta of 1.93.
Boyd Gaming Corporation (NYSE:BYD) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by $0.04. The firm had revenue of $599.87 million during the quarter, compared to the consensus estimate of $602.39 million. Boyd Gaming Corporation had a return on equity of 13.58% and a net margin of 19.15%. Boyd Gaming Corporation’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 EPS. Equities research analysts predict that Boyd Gaming Corporation will post $1.10 earnings per share for the current year.
In related news, insider William S. Boyd sold 76,531 shares of Boyd Gaming Corporation stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $25.18, for a total value of $1,927,050.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William R. Boyd sold 15,000 shares of Boyd Gaming Corporation stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $24.56, for a total value of $368,400.00. Following the completion of the sale, the vice president now owns 18,251 shares of the company’s stock, valued at $448,244.56. The disclosure for this sale can be found here. Insiders sold a total of 188,816 shares of company stock valued at $4,775,740 over the last quarter. 29.16% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in BYD. BlackRock Inc. increased its stake in Boyd Gaming Corporation by 105,482.6% in the first quarter. BlackRock Inc. now owns 10,413,612 shares of the company’s stock valued at $229,205,000 after buying an additional 10,403,749 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Boyd Gaming Corporation by 373.3% in the first quarter. Bank of America Corp DE now owns 1,482,567 shares of the company’s stock valued at $32,631,000 after buying an additional 1,169,330 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Boyd Gaming Corporation by 1,386.9% in the first quarter. Point72 Asset Management L.P. now owns 1,238,594 shares of the company’s stock valued at $27,261,000 after buying an additional 1,155,294 shares during the last quarter. Land & Buildings Investment Management LLC purchased a new position in shares of Boyd Gaming Corporation during the first quarter valued at about $14,824,000. Finally, Norges Bank purchased a new position in shares of Boyd Gaming Corporation during the fourth quarter valued at about $11,720,000. Institutional investors own 71.08% of the company’s stock.
Boyd Gaming Corporation Company Profile
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
Receive News & Ratings for Boyd Gaming Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boyd Gaming Corporation and related companies with MarketBeat.com's FREE daily email newsletter.