Bank of America reiterated their buy rating on shares of Boyd Gaming (NYSE:BYD) in a report published on Tuesday morning. They currently have a $37.00 price objective on the stock.

A number of other equities research analysts also recently issued reports on BYD. Morgan Stanley boosted their price target on shares of Boyd Gaming from $35.00 to $37.00 and gave the company an equal weight rating in a research note on Tuesday, June 26th. ValuEngine downgraded shares of Boyd Gaming from a strong-buy rating to a buy rating in a research note on Wednesday, August 8th. Zacks Investment Research downgraded shares of Boyd Gaming from a buy rating to a hold rating in a research note on Monday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Boyd Gaming from $40.00 to $42.00 and gave the company an overweight rating in a research note on Friday, July 27th. Finally, Jefferies Financial Group set a $42.00 price target on shares of Boyd Gaming and gave the company a hold rating in a research note on Friday, July 27th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Boyd Gaming presently has a consensus rating of Buy and a consensus target price of $39.92.

Boyd Gaming stock opened at $31.08 on Tuesday. The company has a market capitalization of $3.56 billion, a PE ratio of 26.23, a P/E/G ratio of 1.47 and a beta of 1.57. Boyd Gaming has a 1 year low of $26.96 and a 1 year high of $40.44. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 3.05.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, July 26th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $616.80 million for the quarter, compared to the consensus estimate of $608.94 million. Boyd Gaming had a net margin of 7.72% and a return on equity of 12.73%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. On average, research analysts forecast that Boyd Gaming will post 1.44 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, September 27th. Boyd Gaming’s payout ratio is currently 23.30%.

In related news, insider Marianne Boyd Johnson sold 30,600 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $35.86, for a total transaction of $1,097,316.00. Following the sale, the insider now directly owns 231,173 shares of the company’s stock, valued at approximately $8,289,863.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP William R. Boyd sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $37.00, for a total transaction of $259,000.00. Following the sale, the vice president now directly owns 21,903 shares in the company, valued at $810,411. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,000 shares of company stock worth $2,428,514. 28.88% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Boyd Gaming by 7.7% during the 2nd quarter. BlackRock Inc. now owns 9,407,833 shares of the company’s stock worth $326,077,000 after buying an additional 670,588 shares during the period. Commonwealth Equity Services LLC purchased a new stake in Boyd Gaming during the 2nd quarter worth approximately $570,000. Schwab Charles Investment Management Inc. increased its stake in Boyd Gaming by 5.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 565,136 shares of the company’s stock worth $19,588,000 after buying an additional 30,031 shares during the period. Martingale Asset Management L P purchased a new stake in Boyd Gaming during the 2nd quarter worth approximately $927,000. Finally, Bank of America Corp DE increased its stake in Boyd Gaming by 142.1% during the 2nd quarter. Bank of America Corp DE now owns 1,344,703 shares of the company’s stock worth $46,608,000 after buying an additional 789,296 shares during the period. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Boyd Gaming Company Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. As of December 31, 2017, the company owned and operated 24 gaming entertainment properties offering a total of 1,358,856 square feet of casino space, 30,267 slot machines, 632 table games, and 9,372 hotel rooms located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, and Mississippi.

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Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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