Jefferies Group assumed coverage on shares of Boyd Gaming (NYSE:BYD) in a research note released on Thursday, Marketbeat reports. The brokerage issued a hold rating on the stock.

Several other research firms have also recently issued reports on BYD. Zacks Investment Research upgraded Boyd Gaming from a hold rating to a buy rating and set a $40.00 price objective on the stock in a report on Tuesday, January 9th. Argus assumed coverage on Boyd Gaming in a report on Wednesday. They set a buy rating and a $44.00 price objective on the stock. ValuEngine cut Boyd Gaming from a buy rating to a hold rating in a report on Monday, October 2nd. Bank of America upgraded Boyd Gaming from a neutral rating to a buy rating and set a $42.00 price objective on the stock in a report on Friday, January 5th. Finally, Stifel Nicolaus restated a hold rating on shares of Boyd Gaming in a report on Thursday, December 21st. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Boyd Gaming currently has an average rating of Buy and a consensus target price of $31.69.

Boyd Gaming (NYSE:BYD) opened at $37.74 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.68 and a debt-to-equity ratio of 2.95. The firm has a market capitalization of $4,244.73, a price-to-earnings ratio of 31.98 and a beta of 1.82. Boyd Gaming has a 1 year low of $19.20 and a 1 year high of $37.75.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $587.70 million for the quarter, compared to analysts’ expectations of $592.29 million. Boyd Gaming had a return on equity of 13.82% and a net margin of 5.08%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 EPS. sell-side analysts forecast that Boyd Gaming will post 1.04 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Thursday, December 28th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Wednesday, December 27th. Boyd Gaming’s payout ratio is currently 19.23%.

A number of institutional investors have recently modified their holdings of BYD. Fortaleza Asset Management Inc. boosted its holdings in Boyd Gaming by 80.7% in the third quarter. Fortaleza Asset Management Inc. now owns 5,630 shares of the company’s stock valued at $147,000 after acquiring an additional 2,515 shares during the last quarter. Zacks Investment Management acquired a new position in Boyd Gaming in the second quarter valued at $202,000. Shelton Capital Management acquired a new position in Boyd Gaming in the second quarter valued at $203,000. Creative Planning acquired a new position in Boyd Gaming in the fourth quarter valued at $206,000. Finally, Regentatlantic Capital LLC acquired a new position in Boyd Gaming in the third quarter valued at $216,000. Hedge funds and other institutional investors own 76.22% of the company’s stock.

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Boyd Gaming 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.

Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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