Boyd Gaming (NYSE:BYD) Price Target Increased to $71.00 by Analysts at Barclays

Boyd Gaming (NYSE:BYD) had its price target lifted by Barclays from $70.00 to $71.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also recently commented on the company. Bank of America boosted their price target on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. upped their target price on shares of Boyd Gaming from $68.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Stifel Nicolaus boosted their target price on Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company increased their price target on Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.38.

Boyd Gaming Price Performance

NYSE BYD opened at $69.35 on Friday. The business’s fifty day moving average is $62.42 and its 200 day moving average is $58.46. Boyd Gaming has a fifty-two week low of $49.34 and a fifty-two week high of $71.00. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.79 and a current ratio of 0.83. The company has a market capitalization of $6.58 billion, a PE ratio of 12.45 and a beta of 1.57.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, July 25th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.09. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The company had revenue of $967.50 million during the quarter, compared to the consensus estimate of $909.49 million. During the same quarter in the prior year, the firm posted $1.58 EPS. Boyd Gaming’s quarterly revenue was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Boyd Gaming will post 6.25 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Sunday, September 15th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.98%. Boyd Gaming’s dividend payout ratio is presently 12.21%.

Insider Buying and Selling

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the completion of the transaction, the chairman now owns 1,423,498 shares in the company, valued at $85,737,284.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the sale, the director now directly owns 1,096 shares of the company’s stock, valued at $66,154.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the transaction, the chairman now directly owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 27.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Boyd Gaming

Large investors have recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new stake in Boyd Gaming in the second quarter worth about $29,000. Allspring Global Investments Holdings LLC increased its holdings in Boyd Gaming by 57.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after buying an additional 189 shares during the period. Blue Trust Inc. raised its stake in Boyd Gaming by 58.2% in the second quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after buying an additional 288 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Boyd Gaming during the first quarter worth $90,000. Finally, Covestor Ltd boosted its position in Boyd Gaming by 132.6% during the 1st quarter. Covestor Ltd now owns 1,742 shares of the company’s stock valued at $117,000 after acquiring an additional 993 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Company Profile

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.