Boyd Gaming Corporation (NYSE:BYD) Receives Consensus Recommendation of “Hold” from Brokerages

Boyd Gaming Corporation (NYSE:BYD) has been assigned a consensus rating of “Hold” from the fourteen analysts that are currently covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $92.5833.

Several equities analysts recently weighed in on BYD shares. Mizuho set a $100.00 price target on shares of Boyd Gaming in a research report on Monday, February 2nd. Morgan Stanley set a $86.00 target price on shares of Boyd Gaming in a research note on Wednesday, February 11th. Truist Financial set a $110.00 target price on shares of Boyd Gaming in a research report on Tuesday, January 13th. Citigroup assumed coverage on shares of Boyd Gaming in a report on Thursday, November 20th. They issued a “neutral” rating and a $86.00 price target on the stock. Finally, UBS Group set a $110.00 price objective on Boyd Gaming in a research note on Wednesday, December 24th.

Insiders Place Their Bets

In related news, Director William R. Boyd sold 30,000 shares of Boyd Gaming stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $84.84, for a total value of $2,545,200.00. Following the completion of the sale, the director owned 1,930,447 shares of the company’s stock, valued at approximately $163,779,123.48. This trade represents a 1.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 21.97% of the company’s stock.

Hedge Funds Weigh In On Boyd Gaming

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised its position in shares of Boyd Gaming by 18.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,755,659 shares of the company’s stock worth $149,652,000 after buying an additional 277,529 shares in the last quarter. Invesco Ltd. increased its stake in Boyd Gaming by 118.2% in the 4th quarter. Invesco Ltd. now owns 1,427,828 shares of the company’s stock worth $121,708,000 after acquiring an additional 773,394 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Boyd Gaming by 11.1% in the 4th quarter. Franklin Resources Inc. now owns 1,357,412 shares of the company’s stock valued at $115,706,000 after acquiring an additional 136,129 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Boyd Gaming by 26.7% during the 4th quarter. Geode Capital Management LLC now owns 1,355,209 shares of the company’s stock valued at $115,537,000 after acquiring an additional 285,719 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Boyd Gaming by 11.7% during the second quarter. American Century Companies Inc. now owns 1,213,024 shares of the company’s stock worth $94,895,000 after purchasing an additional 127,167 shares in the last quarter. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Stock Performance

Shares of BYD opened at $83.19 on Monday. The stock has a 50 day moving average of $85.32 and a 200 day moving average of $83.87. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of 3.66, a PEG ratio of 1.75 and a beta of 1.20. Boyd Gaming has a 12 month low of $58.94 and a 12 month high of $89.96. The company has a current ratio of 0.54, a quick ratio of 0.52 and a debt-to-equity ratio of 0.78.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.33. Boyd Gaming had a return on equity of 30.14% and a net margin of 45.05%.The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company earned $1.96 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, sell-side analysts forecast that Boyd Gaming will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.18. Boyd Gaming’s payout ratio is currently 3.16%.

About Boyd Gaming

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.