Mizuho Initiates Coverage on Boyd Gaming (NYSE:BYD)

Equities researchers at Mizuho began coverage on shares of Boyd Gaming (NYSE:BYD) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $80.00 price target on the stock. Mizuho’s price objective points to a potential upside of 20.45% from the stock’s current price.

A number of other brokerages also recently issued reports on BYD. Truist Financial upped their price objective on shares of Boyd Gaming from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Susquehanna reaffirmed a “neutral” rating and issued a $75.00 price objective (down from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. Wells Fargo & Company upped their price objective on shares of Boyd Gaming from $81.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Finally, Morgan Stanley upped their price objective on shares of Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.20.

Boyd Gaming Trading Up 1.2 %

NYSE:BYD opened at $66.42 on Tuesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89 and a quick ratio of 0.85. The firm has a 50-day moving average of $63.93 and a 200-day moving average of $61.54. The company has a market cap of $6.36 billion, a PE ratio of 10.89, a PEG ratio of 2.93 and a beta of 1.60. Boyd Gaming has a one year low of $52.42 and a one year high of $73.00.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, February 8th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $954.41 million during the quarter, compared to the consensus estimate of $928.04 million. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.72 earnings per share. As a group, equities research analysts expect that Boyd Gaming will post 6.19 EPS for the current fiscal year.

Insider Buying and Selling at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 77,661 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.87, for a total transaction of $5,037,869.07. Following the sale, the chairman now directly owns 1,511,433 shares in the company, valued at approximately $98,046,658.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP William R. Boyd sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the sale, the vice president now directly owns 1,617,970 shares in the company, valued at approximately $103,614,798.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Marianne Boyd Johnson sold 77,661 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.87, for a total transaction of $5,037,869.07. Following the sale, the chairman now owns 1,511,433 shares in the company, valued at $98,046,658.71. The disclosure for this sale can be found here. Insiders have sold a total of 582,910 shares of company stock worth $37,299,461 over the last three months. 29.21% of the stock is currently owned by insiders.

Institutional Trading of Boyd Gaming

A number of hedge funds and other institutional investors have recently bought and sold shares of BYD. HighTower Advisors LLC increased its holdings in Boyd Gaming by 9.3% during the 1st quarter. HighTower Advisors LLC now owns 8,539 shares of the company’s stock worth $560,000 after acquiring an additional 725 shares during the period. Citigroup Inc. increased its holdings in Boyd Gaming by 1.4% during the 1st quarter. Citigroup Inc. now owns 42,226 shares of the company’s stock worth $2,778,000 after acquiring an additional 567 shares during the period. Bank of Montreal Can increased its holdings in Boyd Gaming by 24.3% during the 1st quarter. Bank of Montreal Can now owns 10,255 shares of the company’s stock worth $689,000 after acquiring an additional 2,002 shares during the period. MetLife Investment Management LLC increased its holdings in Boyd Gaming by 35.4% during the 1st quarter. MetLife Investment Management LLC now owns 53,822 shares of the company’s stock worth $3,540,000 after acquiring an additional 14,078 shares during the period. Finally, Rhumbline Advisers increased its holdings in Boyd Gaming by 2.3% during the 1st quarter. Rhumbline Advisers now owns 221,735 shares of the company’s stock worth $14,586,000 after acquiring an additional 4,888 shares during the period. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Company Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.