Boyd Gaming Corp. (NYSE:BYD) Receives Consensus Rating of “Buy” from Brokerages
Boyd Gaming Corp. (NYSE:BYD) has been assigned a consensus recommendation of “Buy” from the fourteen brokerages that are presently covering the stock. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $21.78.
A number of research firms have commented on BYD. Deutsche Bank AG reissued a “buy” rating on shares of Boyd Gaming Corp. in a research note on Sunday, June 26th. Zacks Investment Research cut shares of Boyd Gaming Corp. from a “buy” rating to a “sell” rating in a research note on Tuesday, July 26th. Telsey Advisory Group cut their price target on shares of Boyd Gaming Corp. from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, August 4th. Finally, Imperial Capital reissued an “outperform” rating and issued a $26.00 price target on shares of Boyd Gaming Corp. in a research note on Wednesday, June 8th.
In other Boyd Gaming Corp. news, insider William S. Boyd sold 76,531 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $19.75, for a total value of $1,511,487.25. Following the completion of the transaction, the insider now directly owns 184,386 shares in the company, valued at approximately $3,641,623.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marianne Boyd Johnson sold 89,360 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $19.83, for a total transaction of $1,772,008.80. Following the completion of the transaction, the executive vice president now owns 276,589 shares of the company’s stock, valued at $5,484,759.87. The disclosure for this sale can be found here. Corporate insiders own 29.67% of the company’s stock.
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A number of hedge funds and other institutional investors have recently modified their holdings of BYD. First Republic Investment Management Inc. bought a new position in shares of Boyd Gaming Corp. during the first quarter valued at approximately $109,697,000. AXA raised its position in shares of Boyd Gaming Corp. by 1,220.5% in the first quarter. AXA now owns 51,500 shares of the company’s stock valued at $1,064,000 after buying an additional 47,600 shares during the period. A.R.T. Advisors LLC raised its position in shares of Boyd Gaming Corp. by 93.0% in the first quarter. A.R.T. Advisors LLC now owns 186,594 shares of the company’s stock valued at $3,855,000 after buying an additional 89,900 shares during the period. BlackRock Inc. raised its position in shares of Boyd Gaming Corp. by 81.4% in the first quarter. BlackRock Inc. now owns 5,589 shares of the company’s stock valued at $115,000 after buying an additional 2,508 shares during the period. Finally, Brigade Capital Management LP raised its position in shares of Boyd Gaming Corp. by 15,900.0% in the first quarter. Brigade Capital Management LP now owns 800,000 shares of the company’s stock valued at $16,528,000 after buying an additional 795,000 shares during the period. Institutional investors and hedge funds own 73.64% of the company’s stock.
Shares of Boyd Gaming Corp. (NYSE:BYD) traded down 0.22% during trading on Wednesday, reaching $18.47. 419,342 shares of the company were exchanged. The stock has a market capitalization of $2.07 billion, a PE ratio of 25.76 and a beta of 1.98. The stock has a 50-day moving average price of $19.37 and a 200-day moving average price of $19.27. Boyd Gaming Corp. has a one year low of $14.22 and a one year high of $21.43.
Boyd Gaming Corp. (NYSE:BYD) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.14. Boyd Gaming Corp. had a return on equity of 18.90% and a net margin of 3.74%. The company earned $544.90 million during the quarter, compared to analysts’ expectations of $561.27 million. During the same period in the prior year, the firm earned $0.24 EPS. Boyd Gaming Corp.’s quarterly revenue was down 2.7% on a year-over-year basis. Analysts forecast that Boyd Gaming Corp. will post $0.80 EPS for the current year.
About Boyd Gaming Corp.
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operates through five segments: Las Vegas Locals; Downtown Las Vegas; Midwest and South; Peninsula, and Borgata. The Las Vegas Locals Properties segment consists of Gold Coast Hotel and Casino, The Orleans Hotel and Casino, Sam’s Town Hotel and Gambling Hall, Suncoast Hotel and Casino, and Eldorado Casino and Jokers Wild Casino.
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