Boyd Gaming Co. (NYSE:BYD) Receives Consensus Rating of “Hold” from Analysts

Boyd Gaming Co. (NYSE:BYD) has been assigned an average rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $72.20.

Several equities analysts have recently issued reports on BYD shares. StockNews.com raised Boyd Gaming from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Mizuho lowered their price objective on Boyd Gaming from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Barclays decreased their price target on Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Truist Financial decreased their price target on Boyd Gaming from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Finally, Wells Fargo & Company decreased their price target on Boyd Gaming from $82.00 to $71.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th.

Insider Buying and Selling

In related news, major shareholder William S. Boyd sold 63,464 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total value of $4,005,847.68. Following the completion of the sale, the insider now owns 8,795,449 shares in the company, valued at $555,168,740.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder William S. Boyd sold 63,464 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total value of $4,005,847.68. Following the completion of the sale, the insider now owns 8,795,449 shares in the company, valued at $555,168,740.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder William S. Boyd sold 125,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the completion of the sale, the insider now owns 9,358,913 shares of the company’s stock, valued at approximately $596,817,882.01. The disclosure for this sale can be found here. Insiders have sold a total of 582,910 shares of company stock valued at $37,299,461 over the last quarter. 28.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boyd Gaming

A number of hedge funds have recently added to or reduced their stakes in BYD. Parkside Financial Bank & Trust lifted its position in shares of Boyd Gaming by 105.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock valued at $25,000 after acquiring an additional 211 shares during the period. Rakuten Securities Inc. acquired a new stake in shares of Boyd Gaming during the 4th quarter valued at approximately $30,000. Allspring Global Investments Holdings LLC lifted its position in shares of Boyd Gaming by 57.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after acquiring an additional 189 shares during the period. Principal Securities Inc. acquired a new stake in shares of Boyd Gaming during the 4th quarter valued at approximately $50,000. Finally, Allworth Financial LP lifted its position in shares of Boyd Gaming by 3,333.3% during the 4th quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock valued at $64,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming Trading Down 0.8 %

Shares of NYSE BYD opened at $53.53 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89. The business’s 50 day moving average price is $63.80 and its 200-day moving average price is $61.99. Boyd Gaming has a fifty-two week low of $52.42 and a fifty-two week high of $73.00. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 2.49 and a beta of 1.60.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.23. Boyd Gaming had a return on equity of 34.77% and a net margin of 14.91%. The firm had revenue of $954.41 million for the quarter, compared to the consensus estimate of $928.04 million. During the same period in the prior year, the business posted $1.72 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that Boyd Gaming will post 6.2 earnings per share for the current year.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.27%. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s dividend payout ratio (DPR) is currently 12.21%.

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.