Boyd Gaming Given Hold Rating at Deutsche Bank (BYD)
Boyd Gaming (NYSE:BYD)‘s stock had its “hold” rating reaffirmed by stock analysts at Deutsche Bank in a report issued on Friday. They currently have a $9.00 price target on the stock, down from their previous price target of $11.00. Deutsche Bank’s price target would suggest a potential downside of 18.18% from the stock’s previous close.
The analysts wrote, “While low expectations have again been lowered and the challenges facing regional markets are again brought loudly front and center, we find current valuation, largely supported by a lofty free cash flow to equity yield, provide support. That said, given what we assume will be 3-5% negative estimate revision to Consensus forecasts on a levered equity, we expect shares to come under pressure in the near term. We have lowered our price target to $9 from $11 on lower 2014 and 2015 EBITDA. Our Hold rating is unchanged. Maintain Hold.”
Shares of Boyd Gaming (NYSE:BYD) traded down 7.73% on Friday, hitting $10.15. 899,187 shares of the company’s stock traded hands. Boyd Gaming has a 52-week low of $9.11 and a 52-week high of $14.75. The stock’s 50-day moving average is $11.57 and its 200-day moving average is $11.53. The company’s market cap is $1.100 billion.
Boyd Gaming (NYSE:BYD) last released its earnings data on Thursday, July 31st. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.08 by $0.03. The company had revenue of $722.50 million for the quarter, compared to the consensus estimate of $732.43 million. The company’s quarterly revenue was down 2.2% on a year-over-year basis. Analysts expect that Boyd Gaming will post $0.07 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on BYD. Analysts at Brean Capital reiterated a “hold” rating on shares of Boyd Gaming in a research note on Friday. Separately, analysts at Nomura reiterated a “neutral” rating on shares of Boyd Gaming in a research note on Friday. They now have a $9.00 price target on the stock. Finally, analysts at Wells Fargo & Co. reiterated a “buy” rating on shares of Boyd Gaming in a research note on Friday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. Boyd Gaming currently has an average rating of “Hold” and an average target price of $10.79.
Boyd Gaming Corporation (NYSE:BYD), incorporated in June 1988, is a multi-jurisdictional gaming company.
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