Boyd Gaming Corporation (NYSE:BYD) Receives $91.00 Consensus Target Price from Brokerages

Shares of Boyd Gaming Corporation (NYSE:BYD) have been assigned an average rating of “Hold” from the fifteen analysts that are presently covering the stock, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $92.00.

Several equities research analysts recently issued reports on BYD shares. Citigroup began coverage on shares of Boyd Gaming in a report on Thursday, November 20th. They issued a “neutral” rating and a $86.00 target price for the company. Zacks Research lowered shares of Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Weiss Ratings restated a “buy (b)” rating on shares of Boyd Gaming in a research report on Monday, December 29th. Macquarie restated a “neutral” rating and set a $90.00 target price on shares of Boyd Gaming in a research note on Friday, October 24th. Finally, Morgan Stanley increased their price target on Boyd Gaming from $85.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday.

Boyd Gaming Stock Performance

Shares of BYD stock traded down $0.78 during mid-day trading on Friday, reaching $88.78. 686,281 shares of the company’s stock traded hands, compared to its average volume of 691,899. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.49 and a current ratio of 0.51. The firm has a market capitalization of $6.94 billion, a PE ratio of 3.88, a price-to-earnings-growth ratio of 1.60 and a beta of 1.22. Boyd Gaming has a 12 month low of $58.94 and a 12 month high of $89.96. The firm has a 50 day moving average price of $83.98 and a two-hundred day moving average price of $83.61.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, October 23rd. The company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.15. The company had revenue of $726.95 million for the quarter, compared to the consensus estimate of $873.09 million. Boyd Gaming had a return on equity of 34.63% and a net margin of 46.02%.Boyd Gaming’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.52 earnings per share. On average, research analysts forecast that Boyd Gaming will post 6.52 EPS for the current year.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 15th were given a dividend of $0.18 per share. The ex-dividend date was Monday, December 15th. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. Boyd Gaming’s dividend payout ratio (DPR) is currently 3.15%.

Insider Buying and Selling

In related news, Director William R. Boyd sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the transaction, the director directly owned 1,960,447 shares of the company’s stock, valued at approximately $157,541,520.92. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 27.94% of the company’s stock.

Hedge Funds Weigh In On Boyd Gaming

Hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Boyd Gaming by 219.8% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock worth $29,000 after purchasing an additional 255 shares during the period. Advisors Asset Management Inc. boosted its stake in Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after buying an additional 196 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in Boyd Gaming during the second quarter valued at $39,000. True Wealth Design LLC raised its stake in shares of Boyd Gaming by 162.1% in the third quarter. True Wealth Design LLC now owns 532 shares of the company’s stock valued at $46,000 after acquiring an additional 329 shares during the period. Finally, SJS Investment Consulting Inc. bought a new stake in shares of Boyd Gaming in the 3rd quarter worth about $48,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.