SunTrust Banks, Inc. Reiterates “Buy” Rating for Boyd Gaming Corporation (BYD)
Boyd Gaming Corporation (NYSE:BYD)‘s stock had its “buy” rating restated by analysts at SunTrust Banks, Inc. in a research note issued to investors on Tuesday. They presently have a $27.00 target price on the stock. SunTrust Banks, Inc.’s price objective would suggest a potential downside of 4.86% from the company’s previous close.
Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Boyd Gaming Corporation from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Wednesday, October 4th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $29.00 price objective (down previously from $30.00) on shares of Boyd Gaming Corporation in a research report on Sunday, July 30th. ValuEngine raised shares of Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. BidaskClub raised shares of Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, Barclays PLC increased their price objective on shares of Boyd Gaming Corporation from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 1st. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $27.29.
Boyd Gaming Corporation (BYD) traded down 0.28% on Tuesday, hitting $28.38. 1,313,353 shares of the stock traded hands. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 7.50 and a beta of 1.87. Boyd Gaming Corporation has a 12-month low of $16.77 and a 12-month high of $29.06. The firm’s 50-day moving average price is $26.75 and its 200-day moving average price is $25.42.
Boyd Gaming Corporation (NYSE:BYD) last posted its earnings results on Thursday, July 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.04). The business had revenue of $599.87 million for the quarter, compared to analyst estimates of $602.39 million. Boyd Gaming Corporation had a return on equity of 13.31% and a net margin of 19.15%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the company posted $0.16 EPS. On average, equities research analysts anticipate that Boyd Gaming Corporation will post $1.12 EPS for the current fiscal year.
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In other Boyd Gaming Corporation news, Director John Robert Bailey bought 10,000 shares of Boyd Gaming Corporation stock in a transaction dated Monday, July 31st. The stock was bought at an average cost of $25.33 per share, for a total transaction of $253,300.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP William R. Boyd sold 7,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.71, for a total value of $186,970.00. Following the transaction, the vice president now owns 1,251 shares of the company’s stock, valued at $33,414.21. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,531 shares of company stock valued at $3,447,521. Company insiders own 29.16% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Seven Eight Capital LP purchased a new position in shares of Boyd Gaming Corporation during the 2nd quarter valued at approximately $154,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Boyd Gaming Corporation during the 1st quarter valued at approximately $161,000. Victory Capital Management Inc. purchased a new position in shares of Boyd Gaming Corporation during the 1st quarter valued at approximately $175,000. Zacks Investment Management purchased a new position in shares of Boyd Gaming Corporation during the 2nd quarter valued at approximately $202,000. Finally, Shelton Capital Management purchased a new position in shares of Boyd Gaming Corporation during the 2nd quarter valued at approximately $203,000. Institutional investors own 74.72% of the company’s stock.
Boyd Gaming Corporation Company Profile
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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