Boyd Gaming Corp. Price Target Cut to $11.00 (BYD)
Research analysts at RBC Capital decreased their price objective on shares of Boyd Gaming Corp. (NYSE:BYD) from $12.00 to $11.00 in a report released on Friday, ARN reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price target would suggest a potential upside of 6.59% from the company’s current price.
Boyd Gaming Corp. (NYSE:BYD) opened at 10.32 on Friday. Boyd Gaming Corp. has a 1-year low of $4.75 and a 1-year high of $14.50. The stock’s 50-day moving average is $13.61 and its 200-day moving average is $12.32. The company’s market cap is $1.112 billion. Boyd Gaming Corp. also was the recipient of unusually large options trading on Thursday. Stock traders acquired 20,488 put options on the stock. This represents an increase of 899% compared to the average volume of 2,051 put options.
Boyd Gaming Corp. (NYSE:BYD) last released its earnings data on Thursday, October 31st. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.01 by $0.07. The company had revenue of $738.60 million for the quarter, compared to the consensus estimate of $758.10 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share. The company’s quarterly revenue was up 20.6% on a year-over-year basis. Analysts expect that Boyd Gaming Corp. will post $-0.05 EPS for the current fiscal year.
A number of other firms have also recently commented on BYD. Analysts at JPMorgan Chase & Co. cut their price target on shares of Boyd Gaming Corp. from $12.00 to $10.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Credit Suisse cut their price target on shares of Boyd Gaming Corp. from $18.00 to $16.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Morgan Stanley reiterated a “buy” rating on shares of Boyd Gaming Corp. in a research note to investors on Friday. They now have a $17.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $12.35.
Boyd Gaming Corporation (NYSE:BYD), incorporated in June 1988, is a multi-jurisdictional gaming company.
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