Boyd Gaming Corp. (BYD) Downgraded by Zacks Investment Research
Boyd Gaming Corp. (NYSE:BYD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Headquartered in Las Vegas, Boyd Gaming Corporation is a leading diversified owner and operator of 22 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi and New Jersey. “
Other research analysts also recently issued reports about the company. Deutsche Bank AG restated a “buy” rating on shares of Boyd Gaming Corp. in a report on Sunday, June 26th. Gabelli reissued a “buy” rating and issued a $28.00 price objective on shares of Boyd Gaming Corp. in a research report on Monday. Finally, Telsey Advisory Group reduced their target price on 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. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Boyd Gaming Corp. has a consensus rating of “Buy” and an average target price of $22.92.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/boyd-gaming-corp-byd-downgraded-by-zacks-investment-research.html
Boyd Gaming Corp. (NYSE:BYD) traded up 0.21% on Tuesday, hitting $19.04. The stock had a trading volume of 820,799 shares. The company has a 50-day moving average price of $19.28 and a 200 day moving average price of $19.31. The firm 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 52-week low of $14.22 and a 52-week high of $21.43.
Boyd Gaming Corp. (NYSE:BYD) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.30 by $0.14. The firm had revenue of $544.90 million for the quarter, compared to analysts’ expectations of $561.27 million. Boyd Gaming Corp. had a return on equity of 18.90% and a net margin of 3.74%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 earnings per share. Equities analysts forecast that Boyd Gaming Corp. will post $0.80 earnings per share for the current fiscal year.
In other news, VP William R. Boyd sold 20,500 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $19.78, for a total transaction of $405,490.00. Following the transaction, the vice president now directly owns 18,027 shares in the company, valued at approximately $356,574.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Marianne Boyd Johnson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $19.26, for a total value of $192,600.00. Following the transaction, the insider now owns 187,229 shares in the company, valued at $3,606,030.54. The disclosure for this sale can be found here. Insiders own 29.67% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of BYD. BlackRock Inc. boosted 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 in the last quarter. PineBridge Investments L.P. boosted its position in shares of Boyd Gaming Corp. by 4.1% in the second quarter. PineBridge Investments L.P. now owns 10,234 shares of the company’s stock valued at $188,000 after buying an additional 403 shares in the last quarter. Laurion Capital Management LP bought a new position in shares of Boyd Gaming Corp. during the second quarter valued at $206,000. Teacher Retirement System of Texas boosted its position in shares of Boyd Gaming Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 11,646 shares of the company’s stock valued at $214,000 after buying an additional 1,410 shares in the last quarter. Finally, Zacks Investment Management bought a new position in shares of Boyd Gaming Corp. during the second quarter valued at $218,000. Institutional investors and hedge funds 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Boyd Gaming Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boyd Gaming Corp. and related companies with MarketBeat.com's FREE daily email newsletter.