Boyd Gaming Corporation (NYSE:BYD) Stock Has Consensus Target Price of $94.69 According to Analysts

Boyd Gaming Corporation (NYSE:BYD) has been given an average rating of “Hold” by the fifteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $94.69.

A number of brokerages have recently weighed in on BYD. Wells Fargo & Company lifted their price objective on Boyd Gaming from $81.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. upped their target price on Boyd Gaming from $90.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Mizuho set a $104.00 price target on shares of Boyd Gaming in a report on Friday, July 24th. Barclays boosted their price objective on shares of Boyd Gaming from $86.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. Finally, Wolfe Research began coverage on shares of Boyd Gaming in a report on Wednesday, September 2nd. They issued a “peer perform” rating for the company.

Insider Activity

In other Boyd Gaming news, CFO Josh Hirsberg sold 12,777 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total value of $1,146,863.52. Following the sale, the chief financial officer directly owned 422,969 shares of the company’s stock, valued at approximately $37,965,697.44. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 22.82% of the company’s stock.

Institutional Trading of Boyd Gaming

Large investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd raised its stake in Boyd Gaming by 54.3% during the 1st quarter. Altshuler Shaham Ltd now owns 452 shares of the company’s stock valued at $37,000 after buying an additional 159 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Boyd Gaming by 62.8% in the 1st quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock worth $43,000 after buying an additional 203 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Boyd Gaming by 23.0% in the 1st quarter. Blue Trust Inc. now owns 653 shares of the company’s stock worth $54,000 after buying an additional 122 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Boyd Gaming in the second quarter worth $59,000. Finally, Persistent Asset Partners Ltd bought a new stake in shares of Boyd Gaming in the second quarter worth $74,000. 76.81% of the stock is currently owned by institutional investors.

Boyd Gaming Stock Performance

Shares of NYSE:BYD opened at $71.87 on Friday. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 3.16, a price-to-earnings-growth ratio of 1.28 and a beta of 1.06. The company has a 50-day moving average price of $81.01 and a 200-day moving average price of $83.43. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 1.05. Boyd Gaming has a 12 month low of $69.90 and a 12 month high of $91.41.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.04. Boyd Gaming had a return on equity of 22.52% and a net margin of 44.34%.The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the firm earned $1.87 earnings per share. Boyd Gaming’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities analysts anticipate that Boyd Gaming will post 7.29 EPS for the current year.

Boyd Gaming Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.80 annualized dividend and a yield of 1.1%. Boyd Gaming’s dividend payout ratio (DPR) is currently 3.52%.

Boyd Gaming Company Profile

Boyd Gaming Corporation is a gaming and hospitality company that owns and operates casinos, hotels, restaurants, entertainment venues and related amenities. Its properties offer casino games such as slots, table games and poker, along with lodging, dining, convention and entertainment services.

Founded in 1975 by gaming executive Sam Boyd, the company is headquartered in Las Vegas, Nevada. Boyd Gaming operates regional gaming properties across several U.S. states, including Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Ohio and Pennsylvania.