Boyd Gaming Co. (NYSE:BYD) Receives $89.77 Average Price Target from Analysts

Shares of Boyd Gaming Co. (NYSE:BYD - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the fourteen brokerages that are covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $89.77.

BYD has been the subject of several analyst reports. Barclays upped their price objective on Boyd Gaming from $68.00 to $70.00 and gave the company an "equal weight" rating in a research note on Thursday. StockNews.com raised Boyd Gaming from a "hold" rating to a "buy" rating in a research note on Monday, July 22nd. Macquarie cut their target price on Boyd Gaming from $72.00 to $68.00 and set a "neutral" rating for the company in a research note on Friday, July 26th. Stifel Nicolaus increased their target price on Boyd Gaming from $65.00 to $67.00 and gave the stock a "hold" rating in a research note on Friday, July 26th. Finally, Morgan Stanley raised Boyd Gaming from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $66.00 to $74.00 in a research note on Wednesday, September 4th.

Insider Buying and Selling at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,242 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the sale, the director now owns 1,096 shares in the company, valued at $66,154.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Christine J. Spadafor sold 1,242 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the sale, the director now owns 1,096 shares in the company, valued at $66,154.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total value of $4,404,619.90. Following the sale, the chairman now owns 1,423,498 shares in the company, valued at $85,737,284.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 27.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BYD. Long Pond Capital LP purchased a new position in shares of Boyd Gaming in the 2nd quarter worth $20,440,000. Ariel Investments LLC raised its position in Boyd Gaming by 12.5% in the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company's stock valued at $167,046,000 after purchasing an additional 335,984 shares during the period. Boston Partners raised its position in Boyd Gaming by 10.0% in the first quarter. Boston Partners now owns 3,031,091 shares of the company's stock valued at $203,276,000 after purchasing an additional 274,876 shares during the period. Beck Bode LLC purchased a new position in Boyd Gaming in the first quarter valued at about $15,985,000. Finally, Scout Investments Inc. raised its position in Boyd Gaming by 68.7% in the first quarter. Scout Investments Inc. now owns 487,441 shares of the company's stock valued at $32,985,000 after purchasing an additional 198,490 shares during the period. 76.81% of the stock is owned by hedge funds and other institutional investors.

Boyd Gaming Stock Performance

BYD traded down $1.11 on Friday, hitting $64.97. 615,149 shares of the company traded hands, compared to its average volume of 917,524. The company has a 50 day moving average of $61.59 and a 200-day moving average of $58.50. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $6.16 billion, a PE ratio of 11.66 and a beta of 1.57. Boyd Gaming has a 12-month low of $49.34 and a 12-month high of $68.46.

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

Boyd Gaming Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Friday, September 13th. Boyd Gaming's dividend payout ratio (DPR) is presently 12.21%.

About Boyd Gaming

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.