Boyd Gaming (NYSE:BYD) has been assigned a consensus rating of “Buy” from the nineteen ratings firms that are covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $35.53.
BYD has been the subject of a number of recent research reports. Zacks Investment Research downgraded Boyd Gaming from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Stifel Nicolaus restated a “hold” rating and set a $40.00 price objective (up from $35.00) on shares of Boyd Gaming in a research note on Wednesday, February 21st. Barclays restated an “equal weight” rating and set a $33.00 price objective (down from $35.00) on shares of Boyd Gaming in a research note on Wednesday, February 21st. ValuEngine upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, SunTrust Banks lowered their price objective on Boyd Gaming to $38.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st.
Shares of BYD opened at $34.99 on Wednesday. The firm has a market cap of $3,941.15, a P/E ratio of 34.34 and a beta of 1.87. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 2.77. Boyd Gaming has a 12 month low of $22.17 and a 12 month high of $40.44.
Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.04). The company had revenue of $590.83 million for the quarter, compared to the consensus estimate of $595.28 million. Boyd Gaming had a return on equity of 11.47% and a net margin of 7.94%. Boyd Gaming’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 earnings per share. equities analysts forecast that Boyd Gaming will post 1.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, April 15th. Shareholders of record on Friday, March 16th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend was Thursday, March 15th. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.05. Boyd Gaming’s payout ratio is 19.42%.
In other news, insider Stephen S. Thompson sold 24,906 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $33.55, for a total value of $835,596.30. Following the completion of the sale, the insider now owns 53,354 shares in the company, valued at $1,790,026.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP William R. Boyd sold 7,528 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $35.23, for a total value of $265,211.44. Following the completion of the sale, the vice president now owns 3,714 shares of the company’s stock, valued at approximately $130,844.22. The disclosure for this sale can be found here. Insiders have sold a total of 328,294 shares of company stock valued at $11,448,808 in the last quarter. 28.88% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Boyd Gaming by 1.1% in the fourth quarter. BlackRock Inc. now owns 10,265,815 shares of the company’s stock valued at $359,817,000 after buying an additional 107,074 shares during the period. Millennium Management LLC lifted its holdings in shares of Boyd Gaming by 108.7% in the fourth quarter. Millennium Management LLC now owns 1,441,205 shares of the company’s stock valued at $50,514,000 after buying an additional 750,610 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Boyd Gaming by 1.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,022,262 shares of the company’s stock valued at $35,830,000 after buying an additional 13,775 shares during the period. OppenheimerFunds Inc. lifted its holdings in shares of Boyd Gaming by 38.3% in the fourth quarter. OppenheimerFunds Inc. now owns 934,798 shares of the company’s stock valued at $32,765,000 after buying an additional 258,775 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of Boyd Gaming by 218.0% in the fourth quarter. TIAA CREF Investment Management LLC now owns 706,370 shares of the company’s stock valued at $24,758,000 after buying an additional 484,247 shares during the period. Institutional investors and hedge funds own 74.76% of the company’s stock.
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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 and South. As of December 31, 2017, the company owned and operated 24 gaming entertainment properties offering a total of 1,358,856 square feet of casino space, 30,267 slot machines, 632 table games, and 9,372 hotel rooms located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, and Mississippi.
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