Boyd Gaming (BYD) PT Raised to $42.00

Boyd Gaming (NYSE:BYD) had its price target boosted by Nomura to $42.00 in a note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the stock. Nomura’s target price points to a potential upside of 20.79% from the stock’s current price.

Several other brokerages have also commented on BYD. Morgan Stanley set a $28.00 price objective on shares of Boyd Gaming and gave the company a “hold” rating in a research report on Tuesday, October 24th. Telsey Advisory Group increased their price objective on shares of Boyd Gaming from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, October 12th. SunTrust Banks reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Boyd Gaming in a research report on Tuesday, October 24th. ValuEngine lowered shares of Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research lowered shares of Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Boyd Gaming presently has an average rating of “Buy” and an average target price of $29.13.

Boyd Gaming (BYD) traded up $2.44 during trading hours on Tuesday, hitting $34.77. 2,469,500 shares of the stock were exchanged, compared to its average volume of 1,277,802. Boyd Gaming has a twelve month low of $19.19 and a twelve month high of $35.12. The company has a market cap of $3,636.25, a PE ratio of 27.40 and a beta of 1.81. The company has a quick ratio of 0.68, a current ratio of 0.73 and a debt-to-equity ratio of 2.95.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Boyd Gaming had a net margin of 5.08% and a return on equity of 13.82%. The firm had revenue of $587.70 million during the quarter, compared to the consensus estimate of $592.29 million. During the same quarter in the prior year, the business posted $0.14 earnings per share. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. equities analysts expect that Boyd Gaming will post 1.05 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Fortaleza Asset Management Inc. grew its stake in Boyd Gaming by 80.7% in the 3rd quarter. Fortaleza Asset Management Inc. now owns 5,630 shares of the company’s stock valued at $147,000 after acquiring an additional 2,515 shares during the period. Seven Eight Capital LP acquired a new stake in Boyd Gaming in the 2nd quarter valued at $154,000. Zacks Investment Management acquired a new stake in Boyd Gaming in the 2nd quarter valued at $202,000. Shelton Capital Management acquired a new stake in Boyd Gaming in the 2nd quarter valued at $203,000. Finally, Regentatlantic Capital LLC acquired a new stake in Boyd Gaming in the 3rd quarter valued at $216,000. 76.22% of the stock is currently owned by hedge funds and other institutional investors.

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About Boyd Gaming

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.