Boyd Gaming Corporation (BYD) Sets New 12-Month High at $30.08
Boyd Gaming Corporation (NYSE:BYD) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $30.08 and last traded at $29.70, with a volume of 668500 shares trading hands. The stock had previously closed at $29.01.
Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Boyd Gaming Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Morgan Stanley set a $28.00 target price on shares of Boyd Gaming Corporation and gave the company a “hold” rating in a research report on Tuesday, October 24th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $27.00 target price on shares of Boyd Gaming Corporation in a research report on Tuesday, October 24th. Telsey Advisory Group lifted their target price on shares of Boyd Gaming Corporation from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, October 12th. Finally, Stifel Nicolaus lifted their target price on shares of Boyd Gaming Corporation from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Friday, October 27th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $27.47.
The company has a debt-to-equity ratio of 2.95, a current ratio of 0.73 and a quick ratio of 0.68. The company has a market cap of $3,350.00, a P/E ratio of 24.92 and a beta of 1.82.
Boyd Gaming Corporation (NYSE:BYD) last issued its earnings results on Thursday, October 26th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). Boyd Gaming Corporation had a return on equity of 13.82% and a net margin of 5.08%. The firm had revenue of $587.70 million during the quarter, compared to analysts’ expectations of $592.29 million. During the same period in the previous year, the firm earned $0.14 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. equities research analysts expect that Boyd Gaming Corporation will post 1.05 EPS for the current fiscal year.
The company also recently announced a monthly dividend, which was paid on Friday, October 27th. Investors of record on Saturday, September 30th were paid a $0.043 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Thursday, September 28th. Boyd Gaming Corporation’s payout ratio is 24.10%.
In related news, Director Robert L. Boughner sold 40,000 shares of Boyd Gaming Corporation stock in a transaction on 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 transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $1,068,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP William R. Boyd sold 7,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $26.71, for a total transaction of $186,970.00. Following the transaction, the vice president now directly owns 1,251 shares in the company, valued at $33,414.21. The disclosure for this sale can be found here. 29.16% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the business. Marshall Wace North America L.P. increased its position in Boyd Gaming Corporation by 441.4% during the 2nd quarter. Marshall Wace North America L.P. now owns 230,849 shares of the company’s stock valued at $5,771,000 after purchasing an additional 188,208 shares during the period. DSAM Partners London Ltd purchased a new position in Boyd Gaming Corporation during the 2nd quarter valued at $2,059,000. Schwab Charles Investment Management Inc. increased its position in Boyd Gaming Corporation by 15.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 441,350 shares of the company’s stock valued at $9,715,000 after purchasing an additional 58,537 shares during the period. Cipher Capital LP increased its position in Boyd Gaming Corporation by 16.1% during the 2nd quarter. Cipher Capital LP now owns 127,405 shares of the company’s stock valued at $3,161,000 after purchasing an additional 17,635 shares during the period. Finally, Zweig DiMenna Associates LLC purchased a new position in Boyd Gaming Corporation during the 2nd quarter valued at $4,385,000. 74.58% of the stock is currently owned by institutional investors and hedge funds.
About Boyd Gaming Corporation
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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