Zacks Investment Research upgraded shares of Boyd Gaming Corporation (NYSE:BYD) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.
According to Zacks, “Headquartered in Las Vegas, Boyd Gaming Corporation is a leading diversified owner and operator of 22 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi and New Jersey. “
BYD has been the topic of several other research reports. BidaskClub upgraded shares of Boyd Gaming Corporation from a hold rating to a buy rating in a research note on Wednesday, August 9th. Stifel Nicolaus increased their price objective on shares of Boyd Gaming Corporation from $28.00 to $30.00 and gave the stock a hold rating in a research note on Friday, October 27th. ValuEngine upgraded shares of Boyd Gaming Corporation from a hold rating to a buy rating in a research note on Wednesday, September 6th. Barclays PLC increased their price objective on shares of Boyd Gaming Corporation from $24.00 to $25.00 and gave the stock an equal weight rating in a research note on Tuesday, August 1st. Finally, SunTrust Banks, Inc. reiterated a buy rating and issued a $27.00 price objective on shares of Boyd Gaming Corporation in a research note on Tuesday, October 24th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of C$27.47.
Boyd Gaming Corporation (BYD) traded down C$0.37 on Thursday, reaching C$28.89. 906,702 shares of the company’s stock traded hands, compared to its average volume of 1,325,575. The company has a quick ratio of 0.74, a current ratio of 0.73 and a debt-to-equity ratio of 2.95. The company has a market cap of $3,249.34, a PE ratio of 24.48 and a beta of 1.82. Boyd Gaming Corporation has a 1-year low of C$18.20 and a 1-year high of C$29.89.
Boyd Gaming Corporation (NYSE:BYD) last posted its earnings results on Thursday, October 26th. The company reported C$0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.23 by C($0.01). The company had revenue of C$587.70 million for the quarter, compared to the consensus estimate of C$592.29 million. Boyd Gaming Corporation had a net margin of 5.08% and a return on equity of 13.82%. Boyd Gaming Corporation’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 EPS. research analysts forecast that Boyd Gaming Corporation will post 1.05 earnings per share for the current fiscal year.
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The company also recently announced a monthly dividend, which was paid on Friday, October 27th. Shareholders of record on Saturday, September 30th were paid a dividend of $0.043 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Thursday, September 28th. Boyd Gaming Corporation’s payout ratio is 19.23%.
In other Boyd Gaming Corporation news, Director Robert L. Boughner sold 40,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of C$26.70, for a total transaction of C$1,068,000.00. Following the completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at approximately C$1,068,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP William R. Boyd sold 7,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of C$26.71, for a total transaction of C$186,970.00. Following the sale, the vice president now directly owns 1,251 shares of the company’s stock, valued at C$33,414.21. The disclosure for this sale can be found here. 29.16% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in BYD. BlackRock Inc. grew its holdings in Boyd Gaming Corporation by 105,482.6% during the 1st quarter. BlackRock Inc. now owns 10,413,612 shares of the company’s stock valued at $229,205,000 after buying an additional 10,403,749 shares in the last quarter. FMR LLC grew its holdings in Boyd Gaming Corporation by 531.0% during the 2nd quarter. FMR LLC now owns 1,418,700 shares of the company’s stock valued at $35,199,000 after buying an additional 1,193,874 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in Boyd Gaming Corporation during the 2nd quarter valued at approximately $26,973,000. Bamco Inc. NY grew its holdings in Boyd Gaming Corporation by 94.8% during the 2nd quarter. Bamco Inc. NY now owns 1,384,937 shares of the company’s stock valued at $34,360,000 after buying an additional 674,100 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in Boyd Gaming Corporation during the 3rd quarter valued at approximately $11,723,000. 74.63% of the stock is owned by institutional investors and hedge funds.
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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