Boyd Gaming (NYSE:BYD) Hits New 52-Week High – Time to Buy?

Boyd Gaming Corporation (NYSE:BYD)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $89.78 and last traded at $89.4310, with a volume of 357602 shares traded. The stock had previously closed at $87.47.

Wall Street Analyst Weigh In

BYD has been the subject of a number of analyst reports. Jefferies Financial Group restated a “buy” rating on shares of Boyd Gaming in a report on Wednesday, December 24th. Mizuho boosted their price target on shares of Boyd Gaming from $89.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Wells Fargo & Company began coverage on shares of Boyd Gaming in a research report on Tuesday, November 18th. They issued an “equal weight” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Boyd Gaming from $87.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Finally, Citigroup began coverage on Boyd Gaming in a research note on Thursday, November 20th. They issued a “neutral” rating and a $86.00 target price for the company. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $92.00.

Boyd Gaming Trading Down 0.9%

The company has a debt-to-equity ratio of 0.71, a current ratio of 0.51 and a quick ratio of 0.49. The business’s 50-day moving average is $83.98 and its two-hundred day moving average is $83.59. The firm has a market cap of $6.94 billion, a P/E ratio of 3.88, a P/E/G ratio of 1.62 and a beta of 1.22.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, October 23rd. The company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.15. Boyd Gaming had a return on equity of 34.63% and a net margin of 46.02%.The business had revenue of $726.95 million for the quarter, compared to analyst estimates of $873.09 million. During the same quarter in the prior year, the company posted $1.52 earnings per share. Boyd Gaming’s revenue was up 4.5% on a year-over-year basis. As a group, analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 15th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, December 15th. Boyd Gaming’s dividend payout ratio (DPR) is 3.15%.

Insider Buying and Selling

In other Boyd Gaming news, Director William R. Boyd sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the sale, the director owned 1,960,447 shares in the company, valued at $157,541,520.92. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 27.94% of the company’s stock.

Hedge Funds Weigh In On Boyd Gaming

Institutional investors and hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Boyd Gaming by 219.8% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after buying an additional 255 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after purchasing an additional 196 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Boyd Gaming during the second quarter worth approximately $39,000. True Wealth Design LLC lifted its holdings in Boyd Gaming by 162.1% during the 3rd quarter. True Wealth Design LLC now owns 532 shares of the company’s stock worth $46,000 after purchasing an additional 329 shares during the last quarter. Finally, SJS Investment Consulting Inc. bought a new stake in Boyd Gaming in the 3rd quarter valued at $48,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

About Boyd Gaming

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.