Boyd Gaming Corporation (NYSE:BYD) Given Consensus Rating of “Hold” by Brokerages

Shares of Boyd Gaming Corporation (NYSE:BYD) have been given an average recommendation of “Hold” by the fourteen brokerages that are covering the stock, Marketbeat reports. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $92.5833.

A number of brokerages have recently issued reports on BYD. Mizuho set a $100.00 target price on Boyd Gaming in a report on Monday, February 2nd. UBS Group set a $110.00 price target on Boyd Gaming in a research note on Wednesday, December 24th. Truist Financial set a $110.00 price target on Boyd Gaming in a research report on Tuesday, January 13th. Wells Fargo & Company dropped their price objective on Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating for the company in a research note on Monday, February 9th. Finally, Morgan Stanley set a $86.00 price objective on Boyd Gaming in a report on Wednesday, February 11th.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Director William R. Boyd sold 30,000 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $84.84, for a total value of $2,545,200.00. Following the transaction, the director directly owned 1,930,447 shares in the company, valued at $163,779,123.48. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Josh Hirsberg sold 23,924 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $85.86, for a total transaction of $2,054,114.64. Following the sale, the chief financial officer directly owned 435,746 shares in the company, valued at $37,413,151.56. This represents a 5.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 73,454 shares of company stock worth $6,231,827 over the last ninety days. Corporate insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

A number of large investors have recently bought and sold shares of the business. Alps Advisors Inc. increased its holdings in Boyd Gaming by 2.7% during the 3rd quarter. Alps Advisors Inc. now owns 5,384 shares of the company’s stock valued at $465,000 after purchasing an additional 141 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in Boyd Gaming by 24.5% in the fourth quarter. TD Private Client Wealth LLC now owns 854 shares of the company’s stock worth $73,000 after purchasing an additional 168 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Boyd Gaming by 4.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,434 shares of the company’s stock worth $371,000 after purchasing an additional 170 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after purchasing an additional 196 shares during the last quarter. Finally, Interchange Capital Partners LLC increased its stake in shares of Boyd Gaming by 9.0% in the fourth quarter. Interchange Capital Partners LLC now owns 2,996 shares of the company’s stock valued at $255,000 after buying an additional 247 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors.

Boyd Gaming Stock Performance

NYSE BYD opened at $82.90 on Friday. Boyd Gaming has a twelve month low of $58.94 and a twelve month high of $89.96. The company has a quick ratio of 0.52, a current ratio of 0.54 and a debt-to-equity ratio of 0.78. The stock has a market cap of $6.24 billion, a P/E ratio of 3.64, a PEG ratio of 1.79 and a beta of 1.20. The company’s 50-day simple moving average is $83.45 and its 200 day simple moving average is $83.46.

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

Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be given a dividend of $0.20 per share. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, March 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. Boyd Gaming’s dividend payout ratio is 3.52%.

Boyd Gaming Company Profile

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.