Boyd Gaming Co. (BYD) Receives Average Recommendation of “Buy” from Analysts

Shares of Boyd Gaming Co. (NYSE:BYD) have been assigned a consensus rating of “Buy” from the thirteen brokerages that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $40.55.

Several research analysts have commented on the company. Zacks Investment Research downgraded Boyd Gaming from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. JPMorgan Chase & Co. lifted their target price on Boyd Gaming from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Jefferies Financial Group set a $42.00 target price on Boyd Gaming and gave the stock a “hold” rating in a report on Friday, July 27th. ValuEngine downgraded Boyd Gaming from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. Finally, Morgan Stanley boosted their price objective on Boyd Gaming from $35.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 26th.

BYD traded down $0.21 during midday trading on Friday, hitting $33.57. 1,209,947 shares of the company were exchanged, compared to its average volume of 969,271. The company has a market capitalization of $3.87 billion, a PE ratio of 32.59, a PEG ratio of 1.76 and a beta of 1.62. Boyd Gaming has a 1-year low of $24.52 and a 1-year high of $40.44. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 3.05.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, July 26th. The company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The firm had revenue of $616.80 million for the quarter, compared to the consensus estimate of $608.94 million. Boyd Gaming had a return on equity of 12.73% and a net margin of 7.72%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 EPS. equities research analysts predict that Boyd Gaming will post 1.3 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.71%. Boyd Gaming’s dividend payout ratio is 23.30%.

In related news, insider Marianne Boyd Johnson sold 2,907 shares of the business’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $37.01, for a total value of $107,588.07. Following the completion of the sale, the insider now directly owns 231,173 shares of the company’s stock, valued at approximately $8,555,712.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP William R. Boyd sold 7,000 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $37.00, for a total value of $259,000.00. Following the completion of the sale, the vice president now directly owns 21,903 shares of the company’s stock, valued at $810,411. The disclosure for this sale can be found here. Insiders sold a total of 67,000 shares of company stock worth $2,428,514 over the last three months. 28.88% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Summit Trail Advisors LLC increased its position in Boyd Gaming by 2,976.2% in the 1st quarter. Summit Trail Advisors LLC now owns 105,790 shares of the company’s stock valued at $106,000 after buying an additional 102,351 shares in the last quarter. First Mercantile Trust Co. bought a new stake in Boyd Gaming during the 1st quarter worth approximately $115,000. Point72 Hong Kong Ltd bought a new stake in Boyd Gaming during the 2nd quarter worth approximately $130,000. LS Investment Advisors LLC increased its holdings in Boyd Gaming by 100.9% during the 1st quarter. LS Investment Advisors LLC now owns 4,453 shares of the company’s stock worth $142,000 after purchasing an additional 2,237 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in Boyd Gaming during the 2nd quarter worth approximately $151,000. 72.53% of the stock is owned by institutional investors and hedge funds.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. As of December 31, 2017, the company owned and operated 24 gaming entertainment properties offering a total of 1,358,856 square feet of casino space, 30,267 slot machines, 632 table games, and 9,372 hotel rooms located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, and Mississippi.

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Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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