Boyd Gaming Co. (NYSE:BYD) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Boyd Gaming Co. (NYSE:BYDGet Rating) have been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $70.77.

Several equities analysts have weighed in on BYD shares. Barclays raised their target price on shares of Boyd Gaming from $65.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, October 26th. CBRE Group reiterated a “hold” rating and set a $60.00 price target on shares of Boyd Gaming in a report on Thursday, October 20th. JMP Securities lifted their price target on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 26th. Morgan Stanley assumed coverage on shares of Boyd Gaming in a report on Monday. They set an “underweight” rating and a $54.00 price target for the company. Finally, Truist Financial lowered their price target on shares of Boyd Gaming from $80.00 to $79.00 and set a “buy” rating for the company in a report on Tuesday, October 25th.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, insider Marianne Boyd Johnson sold 100,000 shares of Boyd Gaming stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $57.94, for a total transaction of $5,794,000.00. Following the transaction, the insider now directly owns 1,680,774 shares of the company’s stock, valued at $97,384,045.56. The sale was disclosed in a filing with the SEC, which is available at this link. In other Boyd Gaming news, VP William R. Boyd sold 50,000 shares of Boyd Gaming stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $57.47, for a total transaction of $2,873,500.00. Following the transaction, the vice president now directly owns 1,694,522 shares of the company’s stock, valued at $97,384,179.34. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Marianne Boyd Johnson sold 100,000 shares of Boyd Gaming stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $57.94, for a total transaction of $5,794,000.00. Following the transaction, the insider now directly owns 1,680,774 shares in the company, valued at $97,384,045.56. The disclosure for this sale can be found here. Insiders have sold a total of 284,276 shares of company stock valued at $16,442,312 over the last ninety days. Corporate insiders own 27.94% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BYD. Great Lakes Advisors LLC lifted its position in shares of Boyd Gaming by 3.9% during the first quarter. Great Lakes Advisors LLC now owns 4,685 shares of the company’s stock worth $308,000 after purchasing an additional 174 shares in the last quarter. Guyasuta Investment Advisors Inc. lifted its position in shares of Boyd Gaming by 0.8% during the first quarter. Guyasuta Investment Advisors Inc. now owns 26,425 shares of the company’s stock worth $1,738,000 after purchasing an additional 200 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Boyd Gaming by 50.0% during the second quarter. Geneos Wealth Management Inc. now owns 600 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Securian Asset Management Inc. lifted its position in shares of Boyd Gaming by 2.8% during the third quarter. Securian Asset Management Inc. now owns 7,414 shares of the company’s stock worth $353,000 after purchasing an additional 202 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Boyd Gaming by 0.7% during the first quarter. Envestnet Asset Management Inc. now owns 33,093 shares of the company’s stock worth $2,177,000 after purchasing an additional 243 shares in the last quarter. 92.40% of the stock is owned by institutional investors and hedge funds.

Boyd Gaming Stock Performance

Shares of BYD opened at $59.73 on Friday. The company has a 50-day simple moving average of $54.15 and a 200-day simple moving average of $54.43. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 1.83. The company has a market capitalization of $6.23 billion, a PE ratio of 11.49, a P/E/G ratio of 0.82 and a beta of 1.84. Boyd Gaming has a 52-week low of $46.10 and a 52-week high of $72.72.

Boyd Gaming (NYSE:BYDGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. The business had revenue of $877.26 million during the quarter, compared to the consensus estimate of $859.03 million. Boyd Gaming had a net margin of 16.41% and a return on equity of 41.21%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 EPS. Equities research analysts predict that Boyd Gaming will post 5.77 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, October 15th. Investors of record on Friday, September 30th were given a $0.15 dividend. The ex-dividend date was Thursday, September 29th. This represents a $0.60 annualized dividend and a dividend yield of 1.00%. Boyd Gaming’s dividend payout ratio is presently 11.54%.

About Boyd Gaming

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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 & South. As of December 31, 2021, the company operated 28 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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