Boyd Gaming Co. (BYD) Position Reduced by California State Teachers Retirement System
California State Teachers Retirement System lowered its position in shares of Boyd Gaming Co. (NYSE:BYD) by 9.5% in the 3rd quarter, Holdings Channel reports. The firm owned 133,198 shares of the company’s stock after selling 14,051 shares during the quarter. California State Teachers Retirement System’s holdings in Boyd Gaming were worth $3,470,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Fortaleza Asset Management Inc. lifted its stake in Boyd Gaming by 80.7% during the third quarter. Fortaleza Asset Management Inc. now owns 5,630 shares of the company’s stock worth $147,000 after purchasing an additional 2,515 shares during the last quarter. Seven Eight Capital LP bought a new stake in Boyd Gaming during the second quarter worth about $154,000. Zacks Investment Management bought a new stake in Boyd Gaming during the second quarter worth about $202,000. Shelton Capital Management bought a new stake in Boyd Gaming during the second quarter worth about $203,000. Finally, Regentatlantic Capital LLC bought a new stake in Boyd Gaming during the third quarter worth about $216,000. 76.22% of the stock is owned by hedge funds and other institutional investors.
Boyd Gaming Co. (BYD) opened at $35.99 on Tuesday. The company has a market capitalization of $4,060.00, a P/E ratio of 43.36 and a beta of 1.82. The company has a current ratio of 0.73, a quick ratio of 0.68 and a debt-to-equity ratio of 2.95. Boyd Gaming Co. has a 52-week low of $19.19 and a 52-week high of $37.07.
Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Boyd Gaming had a net margin of 5.08% and a return on equity of 13.82%. The business 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 earned $0.14 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. equities research analysts forecast that Boyd Gaming Co. will post 1.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Thursday, December 28th will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, December 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. Boyd Gaming’s dividend payout ratio (DPR) is 24.10%.
Several brokerages have issued reports on BYD. Bank of America raised Boyd Gaming from a “neutral” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Friday. Zacks Investment Research lowered Boyd Gaming from a “buy” rating to a “hold” rating in a research note on Friday. Nomura boosted their target price on Boyd Gaming to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Stifel Nicolaus reissued a “hold” rating on shares of Boyd Gaming in a research note on Thursday, December 21st. Finally, ValuEngine lowered Boyd Gaming from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $30.80.
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Boyd Gaming Profile
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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