Morgan Stanley Analysts Give Boyd Gaming (BYD) a $35.00 Price Target

Morgan Stanley set a $35.00 target price on Boyd Gaming (NYSE:BYD) in a research note published on Friday. The brokerage currently has a hold rating on the stock.

A number of other research firms also recently commented on BYD. Zacks Investment Research downgraded shares of Boyd Gaming from a buy rating to a hold rating in a report on Tuesday, July 17th. JPMorgan Chase & Co. boosted their price objective on shares of Boyd Gaming from $40.00 to $42.00 and gave the stock an overweight rating in a report on Friday, July 27th. Jefferies Financial Group set a $42.00 price objective on shares of Boyd Gaming and gave the stock a hold rating in a report on Friday, July 27th. ValuEngine downgraded shares of Boyd Gaming from a strong-buy rating to a buy rating in a report on Wednesday, August 8th. Finally, Bank of America reissued a buy rating and set a $37.00 price objective on shares of Boyd Gaming in a report on Tuesday, October 16th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $39.67.

BYD stock opened at $24.41 on Friday. The stock has a market cap of $2.92 billion, a P/E ratio of 21.32, a P/E/G ratio of 1.23 and a beta of 1.58. Boyd Gaming has a 52 week low of $24.22 and a 52 week high of $40.44. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 3.05.



Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, October 25th. The company reported $0.23 EPS for the quarter, hitting analysts’ consensus estimates of $0.23. The firm had revenue of $612.20 million for the quarter, compared to the consensus estimate of $607.60 million. Boyd Gaming had a net margin of 7.19% and a return on equity of 12.59%. On average, equities analysts predict that Boyd Gaming will post 1.41 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Thursday, September 27th. Boyd Gaming’s dividend payout ratio (DPR) is presently 23.30%.

In other Boyd Gaming news, insider Marianne Boyd Johnson sold 2,907 shares of the company’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $37.01, for a total value of $107,588.07. Following the sale, the insider now owns 231,173 shares of the company’s stock, valued at $8,555,712.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William R. Boyd sold 7,000 shares of the company’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $37.00, for a total transaction of $259,000.00. Following the completion of the sale, the vice president now directly owns 21,903 shares in the company, valued at approximately $810,411. The disclosure for this sale can be found here. Insiders sold 67,000 shares of company stock worth $2,428,514 in the last ninety days. Insiders own 28.88% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Hawaiian Bank purchased a new position in shares of Boyd Gaming during the third quarter valued at approximately $100,000. Summit Trail Advisors LLC lifted its stake in shares of Boyd Gaming by 2,976.2% during the first quarter. Summit Trail Advisors LLC now owns 105,790 shares of the company’s stock valued at $106,000 after buying an additional 102,351 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Boyd Gaming during the second quarter valued at approximately $130,000. Contravisory Investment Management Inc. purchased a new position in shares of Boyd Gaming during the second quarter valued at approximately $151,000. Finally, NumerixS Investment Technologies Inc purchased a new position in shares of Boyd Gaming during the second quarter valued at approximately $169,000. 71.97% of the stock is currently owned by institutional investors and hedge funds.

About Boyd Gaming

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.

Further Reading: Cash Flow Analysis in Stock Selection

Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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