Boyd Gaming (NYSE:BYD) Price Target Increased to $77.00 by Analysts at Truist Financial

Boyd Gaming (NYSE:BYD) had its target price hoisted by Truist Financial from $75.00 to $77.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

BYD has been the topic of a number of other reports. Morgan Stanley raised their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday. Wells Fargo & Company raised their price target on Boyd Gaming from $71.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Macquarie dropped their price objective on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Barclays raised their target price on Boyd Gaming from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, StockNews.com upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $90.23.

Boyd Gaming Trading Down 0.6 %

BYD stock opened at $64.00 on Wednesday. The business has a fifty day moving average of $62.07 and a 200-day moving average of $58.40. The company has a market cap of $6.07 billion, a P/E ratio of 11.49 and a beta of 1.57. Boyd Gaming has a twelve month low of $49.34 and a twelve month high of $68.46. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $909.49 million. During the same period in the prior year, the company posted $1.58 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Boyd Gaming will post 6.25 EPS for the current year.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Friday, September 13th. Boyd Gaming’s dividend payout ratio is 12.21%.

Insider Buying and Selling

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

Institutional Trading of Boyd Gaming

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Long Pond Capital LP acquired a new position in shares of Boyd Gaming during the 2nd quarter worth approximately $20,440,000. Ariel Investments LLC grew its stake in shares of Boyd Gaming by 12.5% in the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock valued at $167,046,000 after buying an additional 335,984 shares in the last quarter. Boston Partners increased its holdings in Boyd Gaming by 10.0% during the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock worth $203,276,000 after buying an additional 274,876 shares during the last quarter. Beck Bode LLC bought a new stake in Boyd Gaming during the first quarter worth $15,985,000. Finally, Scout Investments Inc. lifted its stake in Boyd Gaming by 68.7% in the first quarter. Scout Investments Inc. now owns 487,441 shares of the company’s stock valued at $32,985,000 after acquiring an additional 198,490 shares during the last quarter. Institutional investors and hedge funds 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.