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

Boyd Gaming Co. (NYSE:BYD) has received a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $36.71.

Several analysts have recently weighed in on the stock. Morgan Stanley set a $34.00 price objective on shares of Boyd Gaming and gave the stock a “buy” rating in a research report on Friday, April 26th. ValuEngine upgraded shares of Boyd Gaming from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Stifel Nicolaus upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $37.00 to $33.00 in a research report on Friday, January 11th. Zacks Investment Research downgraded shares of Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Finally, TheStreet upgraded shares of Boyd Gaming from a “c+” rating to a “b” rating in a research report on Monday, March 25th.

Shares of NYSE:BYD opened at $27.96 on Friday. The company has a market cap of $3.09 billion, a PE ratio of 21.02, a P/E/G ratio of 0.80 and a beta of 2.10. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 3.45. Boyd Gaming has a twelve month low of $18.98 and a twelve month high of $39.35.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $827.30 million during the quarter, compared to the consensus estimate of $826.52 million. Boyd Gaming had a net margin of 4.18% and a return on equity of 13.65%. The company’s revenue was up 36.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. On average, equities research analysts forecast that Boyd Gaming will post 1.8 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a $0.06 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.86%. Boyd Gaming’s payout ratio is 18.05%.

In other Boyd Gaming news, CEO Keith Smith sold 100,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $29.41, for a total value of $2,941,000.00. Following the transaction, the chief executive officer now directly owns 1,339,355 shares of the company’s stock, valued at approximately $39,390,430.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP William R. Boyd sold 4,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $28.60, for a total transaction of $114,400.00. Following the completion of the transaction, the vice president now directly owns 34,015 shares in the company, valued at $972,829. The disclosure for this sale can be found here. Insiders sold a total of 166,579 shares of company stock worth $4,893,971 over the last ninety days. Corporate insiders own 29.35% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. LPL Financial LLC increased its stake in Boyd Gaming by 3.1% in the 4th quarter. LPL Financial LLC now owns 13,926 shares of the company’s stock valued at $289,000 after buying an additional 422 shares during the period. Arizona State Retirement System increased its stake in Boyd Gaming by 1.0% in the 4th quarter. Arizona State Retirement System now owns 57,985 shares of the company’s stock valued at $1,205,000 after buying an additional 587 shares during the period. Thrivent Financial for Lutherans increased its stake in Boyd Gaming by 3.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 20,532 shares of the company’s stock valued at $427,000 after buying an additional 722 shares during the period. Beacon Financial Group increased its stake in Boyd Gaming by 4.1% in the 1st quarter. Beacon Financial Group now owns 25,600 shares of the company’s stock valued at $700,000 after buying an additional 1,000 shares during the period. Finally, Sageworth Trust Co acquired a new position in Boyd Gaming in the 1st quarter valued at $28,000. 72.06% of the stock is currently owned by institutional investors.

Boyd Gaming Company Profile

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 & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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