Boyd Gaming Co. (NYSE:BYD) – Equities researchers at Jefferies Financial Group decreased their Q4 2018 earnings per share (EPS) estimates for shares of Boyd Gaming in a report released on Friday, October 26th. Jefferies Financial Group analyst D. Katz now anticipates that the company will post earnings per share of $0.36 for the quarter, down from their previous estimate of $0.45. Jefferies Financial Group has a “Buy” rating and a $42.00 price target on the stock.
Several other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Wednesday, September 26th. Bank of America reiterated a “buy” rating and issued a $37.00 price objective on shares of Boyd Gaming in a report on Tuesday, October 16th. JPMorgan Chase & Co. increased their price objective on shares of Boyd Gaming from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, July 27th. ValuEngine cut shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. Finally, Morgan Stanley set a $35.00 price objective on shares of Boyd Gaming and gave the company a “hold” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $39.67.
Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, October 25th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. The business had revenue of $612.20 million during the quarter, compared to analysts’ expectations of $607.60 million. Boyd Gaming had a net margin of 7.19% and a return on equity of 12.59%.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.92%. The ex-dividend date was Thursday, September 27th. Boyd Gaming’s dividend payout ratio is presently 23.30%.
In related news, insider Marianne Boyd Johnson sold 26,493 shares of the stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $36.41, for a total transaction of $964,610.13. Following the completion of the sale, the insider now directly owns 231,173 shares of the company’s stock, valued at $8,417,008.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP William R. Boyd sold 7,000 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $37.00, for a total transaction of $259,000.00. Following the sale, the vice president now directly owns 21,903 shares of the company’s stock, valued at $810,411. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,000 shares of company stock valued at $2,428,514. Company insiders own 28.88% of the company’s stock.
Large investors have recently modified their holdings of the stock. First Hawaiian Bank purchased a new stake in shares of Boyd Gaming in the 3rd quarter valued at approximately $100,000. Summit Trail Advisors LLC lifted its position in shares of Boyd Gaming by 2,976.2% in the 1st quarter. Summit Trail Advisors LLC now owns 105,790 shares of the company’s stock valued at $106,000 after acquiring an additional 102,351 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Boyd Gaming in the 2nd quarter valued at approximately $130,000. Contravisory Investment Management Inc. purchased a new stake in shares of Boyd Gaming in the 2nd quarter valued at approximately $151,000. Finally, NumerixS Investment Technologies Inc purchased a new stake in shares of Boyd Gaming in the 2nd quarter valued at approximately $169,000. Institutional investors and hedge funds own 71.98% of the company’s stock.
Boyd Gaming Company Profile
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. As of December 31, 2017, the company owned and operated 24 gaming entertainment properties offering a total of 1,358,856 square feet of casino space, 30,267 slot machines, 632 table games, and 9,372 hotel rooms located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, and Mississippi.
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