Boyd Gaming Corp. (BYD) Given Buy Rating at Gabelli
Boyd Gaming Corp. (NYSE:BYD)‘s stock had its “buy” rating reiterated by stock analysts at Gabelli in a research report issued on Monday. They currently have a $28.00 price objective on the stock. Gabelli’s target price suggests a potential upside of 46.75% from the stock’s current price.
Several other analysts have also recently commented on the company. Zacks Investment Research upgraded Boyd Gaming Corp. from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Tuesday, October 4th. Telsey Advisory Group lowered their target price on Boyd Gaming Corp. from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, August 4th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Boyd Gaming Corp. in a research note on Sunday, June 26th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.92.
Boyd Gaming Corp. (NYSE:BYD) traded up 0.21% during trading on Monday, hitting $19.04. The stock had a trading volume of 251,328 shares. The firm’s 50-day moving average price is $19.31 and its 200-day moving average price is $19.34. The stock has a market cap of $2.14 billion, a PE ratio of 26.56 and a beta of 1.86. Boyd Gaming Corp. has a 1-year low of $14.22 and a 1-year high of $21.43.
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Boyd Gaming Corp. (NYSE:BYD) last posted its earnings results on Wednesday, August 3rd. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.30 by $0.14. Boyd Gaming Corp. had a net margin of 3.74% and a return on equity of 18.90%. The business earned $544.90 million during the quarter, compared to analyst estimates of $561.27 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The firm’s revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts predict that Boyd Gaming Corp. will post $0.80 earnings per share for the current fiscal year.
In other news, insider Robert L. Boughner sold 50,000 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $19.81, for a total value of $990,500.00. Following the completion of the sale, the insider now owns 144,560 shares in the company, valued at $2,863,733.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William S. Boyd sold 76,531 shares of the 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 sale, the insider now owns 184,386 shares of the company’s stock, valued at approximately $3,641,623.50. The disclosure for this sale can be found here. 29.67% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in BYD. Aperio Group LLC raised its stake in Boyd Gaming Corp. by 10.6% in the first quarter. Aperio Group LLC now owns 32,973 shares of the company’s stock worth $681,000 after buying an additional 3,167 shares during the last quarter. BlackRock Inc. raised its stake in Boyd Gaming Corp. by 81.4% in the first quarter. BlackRock Inc. now owns 5,589 shares of the company’s stock worth $115,000 after buying an additional 2,508 shares during the last quarter. Credit Agricole S A purchased a new stake in shares of Boyd Gaming Corp. during the first quarter valued at about $8,109,000. State Street Corp raised its stake in shares of Boyd Gaming Corp. by 9.9% in the first quarter. State Street Corp now owns 1,670,430 shares of the company’s stock valued at $34,511,000 after buying an additional 150,230 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Boyd Gaming Corp. during the first quarter valued at about $917,000. Institutional investors own 73.63% of the company’s stock.
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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