Boyd Gaming (NYSE:BYD - Free Report) had its target price lifted by Truist Financial from $75.00 to $77.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.
Several other research analysts also recently weighed in on the company. Wells Fargo & Company increased their price target on Boyd Gaming from $71.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. StockNews.com upgraded Boyd Gaming from a "hold" rating to a "buy" rating in a research note on Monday, July 22nd. Morgan Stanley increased their price target on Boyd Gaming from $74.00 to $78.00 and gave the stock an "overweight" rating in a research note on Tuesday. Bank of America increased their target price on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a "buy" rating in a research note on Tuesday, September 17th. Finally, Macquarie decreased their price target on shares of Boyd Gaming from $72.00 to $68.00 and set a "neutral" rating on the stock in a report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Boyd Gaming currently has an average rating of "Moderate Buy" and an average price target of $90.23.
Read Our Latest Stock Report on Boyd Gaming
Boyd Gaming Stock Performance
Shares of Boyd Gaming stock traded down $0.40 during trading hours on Wednesday, hitting $64.00. 686,711 shares of the company's stock traded hands, compared to its average volume of 913,927. Boyd Gaming has a 12-month low of $49.34 and a 12-month high of $68.46. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 11.49 and a beta of 1.57. The company has a fifty day simple moving average of $61.91 and a 200-day simple moving average of $58.36. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.83 and a quick ratio of 0.79.
Boyd Gaming (NYSE:BYD - Get Free Report) last announced its earnings results on Thursday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.09. Boyd Gaming had a return on equity of 34.29% and a net margin of 13.32%. The firm had revenue of $967.50 million during the quarter, compared to analyst estimates of $909.49 million. During the same period last year, the firm posted $1.58 EPS. The business's revenue was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that Boyd Gaming will post 6.25 EPS for the current fiscal year.
Boyd Gaming Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were given a dividend of $0.17 per share. The ex-dividend date was Friday, September 13th. This represents a $0.68 annualized dividend and a yield of 1.06%. Boyd Gaming's payout ratio is 12.21%.
Insider Buying and Selling at Boyd Gaming
In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of the company's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the completion of the sale, the chairman now directly owns 1,423,498 shares in the company, valued at $85,737,284.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Christine J. Spadafor sold 1,242 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the completion of the sale, the director now directly owns 1,096 shares in the company, valued at approximately $66,154.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the sale, the chairman now owns 1,423,498 shares of the company's stock, valued at approximately $85,737,284.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 27.94% of the company's stock.
Institutional Trading of Boyd Gaming
A number of institutional investors have recently modified their holdings of the company. Mount Yale Investment Advisors LLC purchased a new stake in shares of Boyd Gaming during the third quarter worth about $245,000. International Assets Investment Management LLC lifted its holdings in Boyd Gaming by 4,816.4% in the third quarter. International Assets Investment Management LLC now owns 184,560 shares of the company's stock worth $119,320,000 after buying an additional 180,806 shares during the period. Lecap Asset Management Ltd. purchased a new stake in Boyd Gaming in the third quarter worth about $399,000. Cetera Trust Company N.A lifted its holdings in Boyd Gaming by 5.4% in the third quarter. Cetera Trust Company N.A now owns 3,330 shares of the company's stock worth $215,000 after buying an additional 170 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Boyd Gaming by 11,891.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 62,117 shares of the company's stock worth $4,016,000 after buying an additional 61,599 shares during the period. 76.81% of the stock is currently owned by hedge funds and other institutional investors.
About Boyd Gaming
(
Get Free Report)
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.
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