Boyd Gaming (NYSE:BYD) PT Raised to $30.00 at JPMorgan Chase & Co.

Boyd Gaming (NYSE:BYD) had its price target boosted by JPMorgan Chase & Co. from $24.00 to $30.00 in a research note released on Wednesday, The Fly reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other analysts have also issued reports on BYD. Susquehanna Bancshares lowered shares of Boyd Gaming from a positive rating to a neutral rating in a research report on Thursday, July 23rd. Deutsche Bank reiterated a buy rating and issued a $27.00 target price (up previously from $22.00) on shares of Boyd Gaming in a research report on Wednesday. Union Gaming Research lowered shares of Boyd Gaming from a buy rating to a hold rating and set a $18.00 target price on the stock. in a research report on Wednesday, April 29th. SunTrust Banks lifted their target price on shares of Boyd Gaming from $20.00 to $24.00 and gave the company a buy rating in a research report on Tuesday, July 21st. Finally, Nomura Instinet lifted their target price on shares of Boyd Gaming from $22.00 to $29.00 and gave the company a buy rating in a research report on Tuesday, June 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $26.79.

BYD stock opened at $23.67 on Wednesday. The firm has a market cap of $2.63 billion, a PE ratio of -42.27 and a beta of 2.35. The company has a debt-to-equity ratio of 4.67, a quick ratio of 1.88 and a current ratio of 1.92. The firm’s fifty day moving average is $20.75 and its 200 day moving average is $21.48. Boyd Gaming has a one year low of $6.44 and a one year high of $36.22.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Tuesday, July 28th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.45) by $0.47. Boyd Gaming had a negative net margin of 2.48% and a negative return on equity of 0.88%. The business had revenue of $209.90 million for the quarter, compared to analyst estimates of $199.61 million. During the same quarter last year, the business earned $0.46 earnings per share. The company’s revenue for the quarter was down 75.2% compared to the same quarter last year. Research analysts predict that Boyd Gaming will post -0.86 earnings per share for the current fiscal year.

In other Boyd Gaming news, EVP Marianne Boyd Johnson sold 10,000 shares of Boyd Gaming stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $23.07, for a total transaction of $230,700.00. Following the transaction, the executive vice president now directly owns 285,498 shares of the company’s stock, valued at $6,586,438.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 29.08% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Profund Advisors LLC raised its stake in Boyd Gaming by 5.5% during the fourth quarter. Profund Advisors LLC now owns 9,259 shares of the company’s stock worth $277,000 after purchasing an additional 483 shares during the period. Louisiana State Employees Retirement System raised its stake in Boyd Gaming by 3.1% during the second quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the company’s stock worth $418,000 after purchasing an additional 600 shares during the period. Mason Street Advisors LLC raised its stake in Boyd Gaming by 1.4% during the fourth quarter. Mason Street Advisors LLC now owns 42,571 shares of the company’s stock worth $1,275,000 after purchasing an additional 606 shares during the period. CWM LLC raised its stake in shares of Boyd Gaming by 22.5% in the 2nd quarter. CWM LLC now owns 4,000 shares of the company’s stock valued at $84,000 after acquiring an additional 734 shares during the period. Finally, Valeo Financial Advisors LLC raised its stake in shares of Boyd Gaming by 18.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 4,850 shares of the company’s stock valued at $75,000 after acquiring an additional 750 shares during the period. 66.26% of the stock is currently owned by institutional investors.

Boyd Gaming Company Profile

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.

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