Boyd Gaming (NYSE:BYD) Given New $68.00 Price Target at Barclays

Boyd Gaming (NYSE:BYD) had its target price cut by Barclays from $70.00 to $68.00 in a research note published on Friday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts also recently commented on the company. Wells Fargo & Company upped their price objective on Boyd Gaming from $81.00 to $82.00 and gave the company an overweight rating in a research note on Friday, February 9th. Deutsche Bank Aktiengesellschaft downgraded Boyd Gaming from a buy rating to a hold rating and reduced their price objective for the company from $78.00 to $71.00 in a research note on Friday. Truist Financial increased their target price on Boyd Gaming from $76.00 to $80.00 and gave the stock a buy rating in a research note on Friday, February 9th. Morgan Stanley increased their target price on Boyd Gaming from $71.00 to $72.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. cut Boyd Gaming from an overweight rating to a neutral rating and lowered their price target for the stock from $80.00 to $67.00 in a report on Friday. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $72.20.

Boyd Gaming Trading Down 15.4 %

BYD opened at $53.18 on Friday. The business has a fifty day moving average price of $63.98 and a 200 day moving average price of $62.01. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 2.94 and a beta of 1.60. Boyd Gaming has a 12 month low of $52.42 and a 12 month high of $73.00. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89 and a quick ratio of 0.85.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, February 8th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The firm had revenue of $954.41 million during the quarter, compared to analysts’ expectations of $928.04 million. Boyd Gaming had a return on equity of 34.77% and a net margin of 14.91%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.72 EPS. Sell-side analysts expect that Boyd Gaming will post 6.19 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Thursday, March 14th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s dividend payout ratio is 12.21%.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 77,661 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.87, for a total transaction of $5,037,869.07. Following the sale, the chairman now owns 1,511,433 shares in the company, valued at approximately $98,046,658.71. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Ted Bogich sold 41,631 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.79, for a total transaction of $2,697,272.49. Following the sale, the chief operating officer now owns 66,803 shares in the company, valued at $4,328,166.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Marianne Boyd Johnson sold 77,661 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.87, for a total value of $5,037,869.07. Following the sale, the chairman now owns 1,511,433 shares in the company, valued at approximately $98,046,658.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 582,910 shares of company stock worth $37,299,461. 27.94% of the stock is owned by insiders.

Institutional Investors Weigh In On Boyd Gaming

Hedge funds have recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. raised its position in shares of Boyd Gaming by 885.4% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,657,441 shares of the company’s stock worth $100,822,000 after buying an additional 1,489,240 shares during the period. Cohen & Steers Inc. raised its position in shares of Boyd Gaming by 34.4% in the 4th quarter. Cohen & Steers Inc. now owns 4,747,662 shares of the company’s stock worth $297,270,000 after buying an additional 1,216,121 shares during the period. Norges Bank purchased a new position in Boyd Gaming in the fourth quarter valued at about $44,773,000. Boston Partners raised its position in Boyd Gaming by 29.5% in the fourth quarter. Boston Partners now owns 2,756,215 shares of the company’s stock valued at $172,638,000 after purchasing an additional 628,512 shares during the period. Finally, Scout Investments Inc. purchased a new position in Boyd Gaming in the fourth quarter valued at about $18,091,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.