Brokerages Set Boyd Gaming Corporation (NYSE:BYD) Price Target at $89.50

Shares of Boyd Gaming Corporation (NYSE:BYD) have been given a consensus recommendation of “Hold” by the fifteen research firms that are currently covering the firm, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $89.50.

Several equities research analysts have recently commented on BYD shares. Raymond James Financial reiterated an “outperform” rating on shares of Boyd Gaming in a research report on Monday, September 8th. Mizuho increased their price target on Boyd Gaming from $89.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Boyd Gaming in a research report on Monday. Zacks Research cut Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Finally, Wells Fargo & Company began coverage on Boyd Gaming in a research note on Tuesday, November 18th. They issued an “equal weight” rating and a $85.00 target price on the stock.

Boyd Gaming Stock Up 0.9%

NYSE:BYD opened at $86.42 on Wednesday. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 3.78, a P/E/G ratio of 2.29 and a beta of 1.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.49 and a current ratio of 0.51. The stock’s fifty day moving average price is $81.55 and its two-hundred day moving average price is $82.03. Boyd Gaming has a 52-week low of $58.94 and a 52-week high of $88.49.

Boyd Gaming (NYSE:BYD) last released its earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share for the quarter. Boyd Gaming had a return on equity of 34.63% and a net margin of 46.02%.The company had revenue of $707.32 million during the quarter. On average, analysts anticipate that Boyd Gaming will post 6.52 EPS for the current year.

Boyd Gaming Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, December 15th. Boyd Gaming’s dividend payout ratio (DPR) is currently 3.15%.

Insiders Place Their Bets

In related news, Director William R. Boyd sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the completion of the transaction, the director owned 1,960,447 shares in the company, valued at approximately $157,541,520.92. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 27.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Boyd Gaming

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Boyd Gaming by 219.8% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after buying an additional 255 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after acquiring an additional 196 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Boyd Gaming during the second quarter worth about $39,000. True Wealth Design LLC lifted its holdings in shares of Boyd Gaming by 162.1% during the 3rd quarter. True Wealth Design LLC now owns 532 shares of the company’s stock valued at $46,000 after purchasing an additional 329 shares in the last quarter. Finally, SJS Investment Consulting Inc. acquired a new position in shares of Boyd Gaming in the 3rd quarter valued at approximately $48,000. 76.81% of the stock is owned by institutional investors.

About Boyd Gaming

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.