Analysts Set Boyd Gaming Co. (NYSE:BYD) PT at $95.20

Shares of Boyd Gaming Co. (NYSE:BYD - Get Free Report) have earned an average rating of "Moderate Buy" from the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $95.20.

Several research analysts have recently commented on BYD shares. StockNews.com lowered shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 27th. JMP Securities restated a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Jefferies Financial Group upgraded shares of Boyd Gaming from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $73.00 to $92.00 in a research report on Friday, January 3rd. Truist Financial boosted their price objective on shares of Boyd Gaming from $85.00 to $88.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley downgraded shares of Boyd Gaming from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $82.00 to $81.00 in a research report on Monday, February 24th.

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Insider Transactions at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 50,000 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total value of $3,884,000.00. Following the transaction, the chairman now directly owns 1,346,628 shares in the company, valued at approximately $104,606,063.04. This represents a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christine J. Spadafor sold 1,125 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $75.28, for a total transaction of $84,690.00. Following the transaction, the director now directly owns 4,852 shares of the company's stock, valued at approximately $365,258.56. This represents a 18.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,125 shares of company stock valued at $5,158,490 in the last ninety days. 27.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BYD. Cohen & Steers Inc. increased its position in Boyd Gaming by 0.4% during the 4th quarter. Cohen & Steers Inc. now owns 5,265,454 shares of the company's stock worth $381,929,000 after purchasing an additional 21,616 shares in the last quarter. Boston Partners increased its position in Boyd Gaming by 36.9% during the 4th quarter. Boston Partners now owns 3,955,544 shares of the company's stock worth $287,185,000 after purchasing an additional 1,065,887 shares in the last quarter. State Street Corp increased its position in Boyd Gaming by 0.8% during the 3rd quarter. State Street Corp now owns 2,108,672 shares of the company's stock worth $136,680,000 after purchasing an additional 17,591 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Boyd Gaming by 51.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock valued at $94,074,000 after acquiring an additional 441,963 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Boyd Gaming by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,153,768 shares of the company's stock valued at $74,611,000 after acquiring an additional 33,379 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

Boyd Gaming Trading Down 1.9 %

Shares of BYD traded down $1.33 during trading on Monday, reaching $67.88. 480,916 shares of the company traded hands, compared to its average volume of 929,069. Boyd Gaming has a twelve month low of $49.34 and a twelve month high of $80.50. The stock has a market cap of $5.69 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 4.46 and a beta of 1.55. The stock has a 50-day simple moving average of $74.41 and a 200-day simple moving average of $70.59. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. On average, analysts anticipate that Boyd Gaming will post 6.52 earnings per share for the current year.

Boyd Gaming declared that its board has authorized a share buyback program on Thursday, December 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 7.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Boyd Gaming's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.06%. Boyd Gaming's dividend payout ratio is 11.58%.

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.