Boyd Gaming (NYSE:BYD) Price Target Lowered to $75.00 at Truist Financial

Boyd Gaming (NYSE:BYD) had its target price trimmed by Truist Financial from $80.00 to $75.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Stifel Nicolaus reissued a hold rating and set a $69.00 price target on shares of Boyd Gaming in a research report on Friday, January 5th. StockNews.com raised Boyd Gaming from a hold rating to a buy rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. downgraded Boyd Gaming from an overweight rating to a neutral rating and lowered their price target for the company from $80.00 to $67.00 in a research report on Friday. Wells Fargo & Company increased their price target on Boyd Gaming from $81.00 to $82.00 and gave the company an overweight rating in a report on Friday, February 9th. Finally, Morgan Stanley increased their price target on Boyd Gaming from $71.00 to $72.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $72.20.

Boyd Gaming Stock Performance

Boyd Gaming stock opened at $53.18 on Friday. The firm has a market capitalization of $5.09 billion, a P/E ratio of 9.55, a PEG ratio of 2.94 and a beta of 1.60. The stock has a fifty day moving average price of $63.98 and a 200 day moving average price of $62.01. Boyd Gaming has a 52 week low of $52.42 and a 52 week high of $73.00. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, February 8th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.43 by $0.23. The firm had revenue of $954.41 million during the quarter, compared to analyst estimates of $928.04 million. Boyd Gaming had a return on equity of 34.77% and a net margin of 14.91%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.72 earnings per share. Equities research analysts anticipate that Boyd Gaming will post 6.19 earnings per share for the current year.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, March 14th. Boyd Gaming’s dividend payout ratio is presently 12.21%.

Insider Transactions at Boyd Gaming

In related news, Director A. Randall Thoman sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total value of $159,375.00. Following the sale, the director now directly owns 4,017 shares in the company, valued at approximately $256,083.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder William S. Boyd sold 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $63.77, for a total value of $7,971,250.00. Following the sale, the insider now directly owns 9,358,913 shares in the company, valued at approximately $596,817,882.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director A. Randall Thoman sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total value of $159,375.00. Following the completion of the sale, the director now owns 4,017 shares in the company, valued at $256,083.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 582,910 shares of company stock worth $37,299,461. 27.94% of the stock is currently owned by company insiders.

Institutional Trading of Boyd Gaming

Large investors have recently added to or reduced their stakes in the business. Oak Thistle LLC acquired a new position in shares of Boyd Gaming during the 3rd quarter valued at $805,000. Linden Thomas Advisory Services LLC increased its position in shares of Boyd Gaming by 12.3% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 12,738 shares of the company’s stock valued at $775,000 after purchasing an additional 1,392 shares during the period. Raymond James & Associates increased its position in shares of Boyd Gaming by 17.6% during the 3rd quarter. Raymond James & Associates now owns 115,605 shares of the company’s stock valued at $7,032,000 after purchasing an additional 17,321 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Boyd Gaming during the 3rd quarter valued at $1,898,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Boyd Gaming by 13.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,073 shares of the company’s stock valued at $917,000 after purchasing an additional 1,795 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.