Analysts Set Boyd Gaming Co. (NYSE:BYD) Price Target at $89.31

Shares of Boyd Gaming Co. (NYSE:BYD - Get Free Report) have earned a consensus rating of "Moderate Buy" from the fourteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $89.31.

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a "hold" rating in a research note on Friday, July 26th. StockNews.com upgraded shares of Boyd Gaming from a "hold" rating to a "buy" rating in a research report on Monday, July 22nd. Bank of America increased their price objective on Boyd Gaming from $68.00 to $72.00 and gave the company a "buy" rating in a research report on Tuesday, September 17th. Morgan Stanley raised Boyd Gaming from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $66.00 to $74.00 in a research note on Wednesday, September 4th. Finally, Macquarie cut their target price on Boyd Gaming from $72.00 to $68.00 and set a "neutral" rating on the stock in a research report on Friday, July 26th.

Boyd Gaming Price Performance

NYSE:BYD traded up $0.20 during midday trading on Monday, hitting $64.23. 1,123,998 shares of the stock were exchanged, compared to its average volume of 944,841. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 8.56 and a beta of 1.57. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.70. Boyd Gaming has a one year low of $49.34 and a one year high of $68.46. The business has a 50-day moving average price of $59.14 and a two-hundred day moving average price of $58.39.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.09. The business had revenue of $967.50 million during the quarter, compared to analyst estimates of $909.49 million. Boyd Gaming had a return on equity of 34.29% and a net margin of 13.32%. The company's revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 earnings per share. Sell-side analysts predict that Boyd Gaming will post 6.25 EPS for the current year.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Sunday, September 15th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Friday, September 13th. Boyd Gaming's payout ratio is presently 12.21%.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $60.36, for a total value of $74,967.12. Following the transaction, the director now owns 1,096 shares in the company, valued at $66,154.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the sale, the director now directly owns 1,096 shares in the company, valued at $66,154.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the stock in a transaction on 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 transaction, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. 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 and hedge funds have recently made changes to their positions in BYD. Allspring Global Investments Holdings LLC grew its stake in Boyd Gaming by 57.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company's stock valued at $35,000 after buying an additional 189 shares during the last quarter. Altshuler Shaham Ltd bought a new position in shares of Boyd Gaming in the second quarter worth about $29,000. Blue Trust Inc. lifted its position in shares of Boyd Gaming by 58.2% during the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company's stock worth $43,000 after purchasing an additional 288 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Boyd Gaming during the 1st quarter valued at approximately $90,000. Finally, Covestor Ltd grew its holdings in Boyd Gaming by 132.6% in the 1st quarter. Covestor Ltd now owns 1,742 shares of the company's stock valued at $117,000 after buying an additional 993 shares during the last quarter. Institutional investors and hedge funds 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.