Brokerages Set Boyd Gaming Corporation (NYSE:BYD) Price Target at $92.08

Shares of Boyd Gaming Corporation (NYSE:BYD) have earned an average rating of “Hold” from the fourteen research firms that are presently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $92.0833.

Several research firms have recently weighed in on BYD. Mizuho cut their price objective on Boyd Gaming from $99.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Stifel Nicolaus cut their price objective on Boyd Gaming from $95.00 to $91.00 and set a “hold” rating on the stock in a report on Friday, April 24th. Susquehanna cut their price objective on Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Barclays cut their price objective on Boyd Gaming from $87.00 to $86.00 and set an “equal weight” rating on the stock in a report on Friday, April 24th. Finally, Citigroup lifted their price objective on Boyd Gaming from $86.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, April 16th.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, insider Stephen S. Thompson sold 19,530 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $83.59, for a total value of $1,632,512.70. Following the sale, the insider owned 22,009 shares in the company, valued at approximately $1,839,732.31. The trade was a 47.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Josh Hirsberg sold 23,924 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $85.86, for a total value of $2,054,114.64. Following the completion of the sale, the chief financial officer owned 435,746 shares in the company, valued at $37,413,151.56. The trade was a 5.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 143,454 shares of company stock worth $12,135,614. Corporate insiders own 22.82% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Several institutional investors have recently bought and sold shares of BYD. Invesco Ltd. raised its stake in shares of Boyd Gaming by 118.2% during the 4th quarter. Invesco Ltd. now owns 1,427,828 shares of the company’s stock worth $121,708,000 after purchasing an additional 773,394 shares in the last quarter. Norges Bank bought a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $58,763,000. Clark Capital Management Group Inc. bought a new stake in shares of Boyd Gaming during the 3rd quarter worth approximately $50,295,000. UBS Group AG raised its stake in shares of Boyd Gaming by 196.9% during the 4th quarter. UBS Group AG now owns 611,207 shares of the company’s stock worth $52,099,000 after purchasing an additional 405,340 shares in the last quarter. Finally, Arbejdsmarkedets Tillaegspension bought a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $24,675,000. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Trading Up 1.3%

NYSE:BYD opened at $79.13 on Friday. Boyd Gaming has a fifty-two week low of $72.01 and a fifty-two week high of $89.96. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.60 and a quick ratio of 0.58. The stock has a market capitalization of $5.88 billion, a PE ratio of 3.47, a price-to-earnings-growth ratio of 1.82 and a beta of 1.11. The business’s 50-day simple moving average is $83.69 and its 200-day simple moving average is $83.64.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, April 23rd. The company reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.16). Boyd Gaming had a net margin of 44.84% and a return on equity of 25.63%. The business had revenue of $997.36 million for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm earned $1.62 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts expect that Boyd Gaming will post 7.32 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.80 annualized dividend and a yield of 1.0%. Boyd Gaming’s payout ratio is presently 3.51%.

Boyd Gaming announced that its board has approved a stock buyback plan on Thursday, April 23rd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Boyd Gaming Company Profile

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.