Morgan Stanley lowered shares of Boyd Gaming Corporation (NYSE:BYD) from an overweight rating to an equal weight rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. Morgan Stanley currently has $26.00 price objective on the stock. The analysts noted that the move was a valuation call.

Several other research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Boyd Gaming Corporation from a hold rating to a strong-buy rating and set a $25.00 price objective for the company in a research note on Tuesday, April 18th. Cann upgraded shares of Boyd Gaming Corporation to a buy rating and boosted their price objective for the stock from $20.00 to $27.00 in a research note on Wednesday, May 3rd. They noted that the move was a valuation call. Imperial Capital boosted their price objective on shares of Boyd Gaming Corporation from $26.00 to $29.00 and gave the stock an outperform rating in a research note on Thursday, May 4th. Telsey Advisory Group boosted their price objective on shares of Boyd Gaming Corporation from $23.00 to $26.00 and gave the stock an outperform rating in a research note on Wednesday, May 3rd. Finally, Aegis reiterated a buy rating and set a $27.00 price objective (up previously from $26.00) on shares of Boyd Gaming Corporation in a research note on Wednesday, May 3rd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $26.00.

Analyst Recommendations for Boyd Gaming Corporation (NYSE:BYD)

Shares of Boyd Gaming Corporation (BYD) traded down 0.856% during trading on Tuesday, hitting $25.004. 142,229 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $24.99 and a 200-day moving average price of $21.82. Boyd Gaming Corporation has a one year low of $16.77 and a one year high of $26.20. The stock has a market cap of $2.83 billion, a P/E ratio of 6.865 and a beta of 1.83.

Boyd Gaming Corporation (NYSE:BYD) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. The firm had revenue of $605.34 million during the quarter, compared to analysts’ expectations of $601.11 million. Boyd Gaming Corporation had a net margin of 18.79% and a return on equity of 13.63%. Equities research analysts expect that Boyd Gaming Corporation will post $1.14 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Thursday, June 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Tuesday, June 13th. Boyd Gaming Corporation’s dividend payout ratio (DPR) is currently 5.48%.

In related news, VP William R. Boyd sold 15,000 shares of the stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $24.56, for a total transaction of $368,400.00. Following the sale, the vice president now directly owns 18,251 shares of the company’s stock, valued at $448,244.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian A. Larson sold 90,478 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $24.14, for a total transaction of $2,184,138.92. Following the sale, the vice president now directly owns 195,087 shares in the company, valued at $4,709,400.18. The disclosure for this sale can be found here. Insiders sold a total of 202,763 shares of company stock worth $5,032,829 over the last ninety days. Insiders own 29.16% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp increased its position in Boyd Gaming Corporation by 0.5% in the fourth quarter. Van ECK Associates Corp now owns 10,714 shares of the company’s stock valued at $216,000 after buying an additional 57 shares during the last quarter. Capital One National Association increased its position in Boyd Gaming Corporation by 1.0% in the first quarter. Capital One National Association now owns 18,194 shares of the company’s stock valued at $400,000 after buying an additional 178 shares during the last quarter. State of Alaska Department of Revenue increased its position in Boyd Gaming Corporation by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 9,110 shares of the company’s stock valued at $200,000 after buying an additional 240 shares during the last quarter. Wedge Capital Management L L P NC increased its position in Boyd Gaming Corporation by 2.6% in the first quarter. Wedge Capital Management L L P NC now owns 15,558 shares of the company’s stock valued at $342,000 after buying an additional 397 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Boyd Gaming Corporation by 0.4% in the first quarter. Legal & General Group Plc now owns 148,018 shares of the company’s stock valued at $3,255,000 after buying an additional 517 shares during the last quarter. 70.91% of the stock is currently owned by hedge funds and other institutional investors.

Boyd Gaming Corporation Company 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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