Boyd Gaming (NYSE:BYD) Trading 5.6% Higher

Boyd Gaming Co. (NYSE:BYD) shares traded up 5.6% on Friday . The stock traded as high as $23.09 and last traded at $23.01, 1,314,362 shares were traded during trading. An increase of 5% from the average session volume of 1,256,603 shares. The stock had previously closed at $21.78.

Several equities research analysts have recently weighed in on the stock. Desjardins upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Thursday. Morgan Stanley set a $34.00 price objective on shares of Boyd Gaming and gave the stock a “buy” rating in a research report on Friday, April 26th. Wolfe Research began coverage on shares of Boyd Gaming in a research report on Friday, June 14th. They set an “outperform” rating and a $37.00 price objective for the company. Telsey Advisory Group upgraded shares of Boyd Gaming from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $31.00 to $36.00 in a report on Wednesday, July 31st. Finally, Stifel Nicolaus set a $36.00 price target on shares of Boyd Gaming and gave the stock a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Boyd Gaming has a consensus rating of “Buy” and a consensus price target of $34.22.

The company has a debt-to-equity ratio of 3.90, a current ratio of 0.75 and a quick ratio of 0.71. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.91 and a beta of 2.11. The business’s fifty day simple moving average is $26.01 and its 200 day simple moving average is $27.32.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The company had revenue of $846.13 million during the quarter, compared to analyst estimates of $839.64 million. Boyd Gaming had a return on equity of 14.13% and a net margin of 4.18%. The company’s revenue for the quarter was up 37.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. Equities research analysts expect that Boyd Gaming Co. will post 1.74 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of BYD. Royal Bank of Canada increased its holdings in Boyd Gaming by 1,738.4% during the second quarter. Royal Bank of Canada now owns 106,960 shares of the company’s stock worth $2,882,000 after buying an additional 101,142 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Boyd Gaming during the second quarter worth about $612,000. York Capital Management Global Advisors LLC purchased a new stake in Boyd Gaming during the second quarter worth about $2,608,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in Boyd Gaming by 12.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,506 shares of the company’s stock worth $310,000 after buying an additional 1,257 shares during the last quarter. Finally, Bamco Inc. NY increased its holdings in Boyd Gaming by 0.6% during the second quarter. Bamco Inc. NY now owns 2,143,058 shares of the company’s stock worth $57,734,000 after buying an additional 13,209 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Boyd Gaming Company Profile (NYSE:BYD)

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

Read More: What are municipal bonds?

Receive News & Ratings for Boyd Gaming Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boyd Gaming and related companies with MarketBeat.com's FREE daily email newsletter.