Boyd Gaming (BYD) Price Target Raised to $37.00
A number of other research firms also recently issued reports on BYD. Morgan Stanley set a $28.00 price target on Boyd Gaming and gave the stock a hold rating in a research report on Tuesday, October 24th. Telsey Advisory Group increased their price target on Boyd Gaming from $30.00 to $31.00 and gave the stock an outperform rating in a research report on Thursday, October 12th. SunTrust Banks reissued a buy rating and set a $27.00 price target on shares of Boyd Gaming in a research report on Tuesday, October 24th. ValuEngine downgraded Boyd Gaming from a buy rating to a hold rating in a research report on Friday, December 1st. Finally, Zacks Investment Research downgraded Boyd Gaming from a buy rating to a hold rating in a research report on Thursday, October 5th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $28.00.
Boyd Gaming (NYSE:BYD) traded up $0.01 on Wednesday, hitting $32.03. The stock had a trading volume of 563,993 shares, compared to its average volume of 1,009,308. Boyd Gaming has a fifty-two week low of $19.19 and a fifty-two week high of $33.02. The company has a quick ratio of 0.68, a current ratio of 0.73 and a debt-to-equity ratio of 2.95. The company has a market cap of $3,601.39, a P/E ratio of 27.14 and a beta of 1.81.
Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Boyd Gaming had a return on equity of 13.82% and a net margin of 5.08%. The firm had revenue of $587.70 million for the quarter, compared to the consensus estimate of $592.29 million. During the same period in the previous year, the company posted $0.14 EPS. Boyd Gaming’s quarterly revenue was up 10.5% compared to the same quarter last year. equities analysts forecast that Boyd Gaming will post 1.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Thursday, December 28th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Wednesday, December 27th. Boyd Gaming’s dividend payout ratio (DPR) is currently 19.23%.
In other Boyd Gaming news, VP William R. Boyd sold 7,000 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.71, for a total value of $186,970.00. Following the completion of the sale, the vice president now directly owns 1,251 shares in the company, valued at $33,414.21. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert L. Boughner sold 40,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $26.70, for a total value of $1,068,000.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at $1,068,000. The disclosure for this sale can be found here. Corporate insiders own 29.16% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in BYD. Dimensional Fund Advisors LP raised its stake in Boyd Gaming by 34.5% in the first quarter. Dimensional Fund Advisors LP now owns 522,507 shares of the company’s stock valued at $11,500,000 after buying an additional 133,947 shares during the last quarter. Aperio Group LLC raised its stake in Boyd Gaming by 4.7% in the second quarter. Aperio Group LLC now owns 31,737 shares of the company’s stock valued at $787,000 after buying an additional 1,426 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Boyd Gaming in the second quarter valued at about $340,000. Great West Life Assurance Co. Can raised its stake in Boyd Gaming by 40.4% in the second quarter. Great West Life Assurance Co. Can now owns 160,128 shares of the company’s stock valued at $3,970,000 after buying an additional 46,064 shares during the last quarter. Finally, Texas Permanent School Fund raised its stake in Boyd Gaming by 1.0% in the second quarter. Texas Permanent School Fund now owns 60,351 shares of the company’s stock valued at $1,497,000 after buying an additional 600 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.
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About Boyd Gaming
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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