Credit Suisse Lowers Boyd Gaming Corp. Price Target to $16.00 (BYD)
Research analysts at Credit Suisse lowered their price objective on shares of Boyd Gaming Corp. (NYSE:BYD) from $18.00 to $16.00 in a report released on Friday, Analyst Ratings News reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price objective suggests a potential upside of 55.04% from the company’s current price.
Shares of 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 has a 50-day moving average of $13.61 and a 200-day moving average of $12.32. The company’s market cap is $1.112 billion. Boyd Gaming Corp. also was the target of some unusual options trading activity on Thursday. Stock investors bought 20,488 put options on the stock. This represents an increase of approximately 899% compared to the typical 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 last year, the company posted ($0.11) earnings per share. Boyd Gaming Corp.’s revenue was up 20.6% compared to the same quarter last year. On average, analysts predict that Boyd Gaming Corp. will post $-0.05 earnings per share for the current fiscal year.
A number of other firms have also recently commented on BYD. 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. Separately, analysts at Telsey Advisory Group cut their price target on shares of Boyd Gaming Corp. from $16.00 to $13.00 in a research note to investors on Friday. They now have a “not rated” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Boyd Gaming Corp. from $10.00 to $12.00 in a research note to investors on Tuesday, October 22nd. They now have a “sector perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $12.35.
Boyd Gaming Corporation (NYSE:BYD), incorporated in June 1988, is a multi-jurisdictional gaming company.
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