Boyd Gaming Corporation (NYSE:BYD) Receives Average Recommendation of “Hold” from Analysts

Shares of Boyd Gaming Corporation (NYSE:BYD) have been assigned an average recommendation of “Hold” from the seventeen analysts that are covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $93.1538.

Several brokerages recently weighed in on BYD. Susquehanna decreased their price target on Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Stifel Nicolaus dropped their price objective on shares of Boyd Gaming from $95.00 to $91.00 and set a “hold” rating on the stock in a research note on Friday, April 24th. Mizuho cut their price objective on shares of Boyd Gaming from $99.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. Weiss Ratings upgraded shares of Boyd Gaming from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 4th. Finally, Citigroup lifted their target price on shares of Boyd Gaming from $86.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, April 16th.

Insider Buying and Selling

In other news, CEO Keith Smith sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $85.90, for a total value of $8,590,000.00. Following the completion of the sale, the chief executive officer directly owned 996,981 shares of the company’s stock, valued at $85,640,667.90. This trade represents a 9.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 62,914 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $84.03, for a total value of $5,286,663.42. Following the completion of the sale, the chairman directly owned 1,609,808 shares of the company’s stock, valued at $135,272,166.24. This represents a 3.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 200,000 shares of company stock worth $17,038,987 in the last ninety days. 22.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boyd Gaming

A number of hedge funds and other institutional investors have recently bought and sold shares of BYD. Altshuler Shaham Ltd purchased a new stake in shares of Boyd Gaming in the 4th quarter worth about $25,000. Los Angeles Capital Management LLC purchased a new position in Boyd Gaming during the 4th quarter valued at about $25,000. Advisors Asset Management Inc. increased its holdings in Boyd Gaming by 56.8% during the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after acquiring an additional 196 shares in the last quarter. First Horizon Corp acquired a new position in Boyd Gaming during the fourth quarter worth about $41,000. Finally, Bessemer Group Inc. raised its position in Boyd Gaming by 62.8% during the first quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock worth $43,000 after acquiring an additional 203 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $87.77 on Friday. The stock’s 50-day moving average price is $84.90 and its 200 day moving average price is $84.69. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $6.52 billion, a PE ratio of 3.85, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07. Boyd Gaming has a 52-week low of $76.33 and a 52-week high of $91.00.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.16). Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.The company had revenue of $997.36 million for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business posted $1.62 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. As a group, equities research analysts forecast that Boyd Gaming will post 7.32 EPS for the current year.

Boyd Gaming announced that its Board of Directors has approved a share buyback plan on Thursday, April 23rd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Boyd Gaming Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be given a $0.20 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. Boyd Gaming’s dividend payout ratio (DPR) is presently 3.51%.

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.