Boyd Gaming (NYSE:BYD) PT Lowered to $78.00 at Mizuho

Boyd Gaming (NYSE:BYD) had its price objective reduced by Mizuho from $80.00 to $78.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on the stock. Morgan Stanley upped their price objective on shares of Boyd Gaming from $71.00 to $72.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft cut shares of Boyd Gaming from a buy rating to a hold rating and reduced their price target for the company from $78.00 to $71.00 in a research report on Friday. StockNews.com upgraded shares of Boyd Gaming from a hold rating to a buy rating in a research report on Wednesday, January 24th. Stifel Nicolaus reiterated a hold rating and set a $69.00 price target on shares of Boyd Gaming in a research report on Friday, January 5th. Finally, Wells Fargo & Company boosted their price target on shares of Boyd Gaming from $81.00 to $82.00 and gave the company an overweight rating in a research report on Friday, February 9th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $72.20.

Boyd Gaming Stock Down 15.4 %

BYD opened at $53.18 on Friday. The company has a fifty day moving average price of $63.98 and a 200-day moving average price of $62.01. The firm has a market capitalization of $5.09 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 2.94 and a beta of 1.60. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89 and a quick ratio of 0.85. Boyd Gaming has a one year low of $52.42 and a one year high of $73.00.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, February 8th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.77%. The firm had revenue of $954.41 million during the quarter, compared to analyst estimates of $928.04 million. During the same period in the previous year, the business earned $1.72 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts expect that Boyd Gaming will post 6.19 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Thursday, March 14th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s dividend payout ratio is 12.21%.

Insiders Place Their Bets

In other Boyd Gaming news, Director A. Randall Thoman sold 2,500 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total value of $159,375.00. Following the sale, the director now owns 4,017 shares in the company, valued at $256,083.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director A. Randall Thoman sold 2,500 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total transaction of $159,375.00. Following the sale, the director now owns 4,017 shares in the company, valued at $256,083.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP William R. Boyd sold 50,000 shares of the firm’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 of the company’s stock, valued at approximately $103,614,798.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 582,910 shares of company stock worth $37,299,461. 27.94% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boyd Gaming

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of Boyd Gaming by 57.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after acquiring an additional 189 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Boyd Gaming by 105.5% during the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock valued at $25,000 after acquiring an additional 211 shares in the last quarter. Great Lakes Advisors LLC increased its position in shares of Boyd Gaming by 3.7% during the third quarter. Great Lakes Advisors LLC now owns 5,971 shares of the company’s stock valued at $363,000 after acquiring an additional 213 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Boyd Gaming by 0.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 31,457 shares of the company’s stock valued at $2,118,000 after acquiring an additional 264 shares in the last quarter. Finally, Lmcg Investments LLC increased its position in shares of Boyd Gaming by 2.2% during the third quarter. Lmcg Investments LLC now owns 12,257 shares of the company’s stock valued at $746,000 after acquiring an additional 269 shares in the last quarter. 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.