ValuEngine cut shares of Boyd Gaming Corporation (NYSE:BYD) from a buy rating to a hold rating in a research report released on Monday morning.

BYD has been the subject of several other reports. Barclays PLC raised their target price on shares of Boyd Gaming Corporation from $24.00 to $25.00 and gave the stock an equal weight rating in a research report on Tuesday, August 1st. Telsey Advisory Group raised their target price on shares of Boyd Gaming Corporation from $29.00 to $30.00 and gave the stock an outperform rating in a research report on Friday, July 28th. Zacks Investment Research cut shares of Boyd Gaming Corporation from a buy rating to a hold rating in a research report on Monday, July 31st. BidaskClub cut shares of Boyd Gaming Corporation from a strong-buy rating to a buy rating in a research report on Wednesday, August 2nd. Finally, Deutsche Bank AG reaffirmed a buy rating and issued a $29.00 target price (down from $30.00) on shares of Boyd Gaming Corporation in a research report on Sunday, July 30th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Boyd Gaming Corporation currently has a consensus rating of Buy and a consensus price target of $26.93.

Shares of Boyd Gaming Corporation (BYD) traded up 2.42% during trading on Monday, hitting $26.20. 234,550 shares of the stock traded hands. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 6.92 and a beta of 1.87. The company has a 50 day moving average price of $26.04 and a 200 day moving average price of $24.71. Boyd Gaming Corporation has a 12 month low of $16.77 and a 12 month high of $27.00.

Boyd Gaming Corporation (NYSE:BYD) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). Boyd Gaming Corporation had a return on equity of 13.31% and a net margin of 19.15%. The firm had revenue of $599.87 million during the quarter, compared to the consensus estimate of $602.39 million. During the same period last year, the business earned $0.16 EPS. Boyd Gaming Corporation’s revenue was up 10.1% on a year-over-year basis. Analysts anticipate that Boyd Gaming Corporation will post $1.12 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, September 18th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.78%. Boyd Gaming Corporation’s dividend payout ratio (DPR) is currently 5.25%.

In related news, Director Robert L. Boughner sold 40,000 shares of Boyd Gaming Corporation stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $26.70, for a total transaction of $1,068,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $1,068,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Robert Bailey purchased 10,000 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were acquired at an average cost of $25.33 per share, with a total value of $253,300.00. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 133,531 shares of company stock valued at $3,447,521. 29.16% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of BYD. Seven Eight Capital LP purchased a new position in Boyd Gaming Corporation during the 2nd quarter valued at about $154,000. Ameritas Investment Partners Inc. purchased a new position in Boyd Gaming Corporation during the 1st quarter valued at about $157,000. Oppenheimer Asset Management Inc. purchased a new position in Boyd Gaming Corporation during the 1st quarter valued at about $161,000. Victory Capital Management Inc. purchased a new position in Boyd Gaming Corporation during the 1st quarter valued at about $175,000. Finally, Zacks Investment Management purchased a new position in Boyd Gaming Corporation during the 2nd quarter valued at about $202,000. 74.66% of the stock is owned by institutional investors.

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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Analyst Recommendations for Boyd Gaming Corporation (NYSE:BYD)

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