Boyd Gaming (NYSE:BYD) PT Lowered to $65.00

Boyd Gaming (NYSE:BYD) had its price target reduced by Stifel Nicolaus from $71.00 to $65.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a hold rating on the stock.

Several other brokerages have also recently weighed in on BYD. Wells Fargo & Company boosted their price target on shares of Boyd Gaming from $81.00 to $82.00 and gave the company an overweight rating in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft cut shares of Boyd Gaming from a buy rating to a hold rating and lowered their price target for the company from $78.00 to $71.00 in a research report on Friday. Barclays lowered their price target on shares of Boyd Gaming from $70.00 to $68.00 and set an equal weight rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered shares of Boyd Gaming from an overweight rating to a neutral rating and reduced their price objective for the company from $80.00 to $67.00 in a report on Friday. Finally, Morgan Stanley boosted their price objective on shares of Boyd Gaming from $71.00 to $72.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $72.20.

Boyd Gaming Trading Down 15.4 %

Shares of BYD opened at $53.18 on Friday. The firm’s fifty day moving average is $63.98 and its two-hundred day moving average is $62.01. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.65. The stock has a market cap of $5.09 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 2.94 and a beta of 1.60. Boyd Gaming has a 52-week low of $52.42 and a 52-week high of $73.00.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. The firm had revenue of $954.41 million for the quarter, compared to analysts’ expectations of $928.04 million. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.77%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 EPS. Research analysts forecast that Boyd Gaming will post 6.19 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $0.17 dividend. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.28%. The ex-dividend date was Thursday, March 14th. Boyd Gaming’s payout ratio is 12.21%.

Insiders Place Their Bets

In other Boyd Gaming news, Director A. Randall Thoman sold 2,500 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total transaction of $159,375.00. Following the sale, the director now directly owns 4,017 shares in the company, valued at $256,083.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Boyd Gaming news, Director A. Randall Thoman sold 2,500 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total transaction of $159,375.00. Following the sale, the director now directly owns 4,017 shares in the company, valued at $256,083.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder William S. Boyd sold 63,464 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the sale, the insider now owns 8,795,449 shares in the company, valued at $555,168,740.88. The disclosure for this sale can be found here. Insiders have sold 582,910 shares of company stock worth $37,299,461 over the last three months. Company insiders own 27.94% of the company’s stock.

Institutional Trading of Boyd Gaming

A number of large investors have recently made changes to their positions in the company. Cascade Investment Advisors Inc. purchased a new stake in shares of Boyd Gaming during the first quarter worth approximately $1,220,000. Assenagon Asset Management S.A. purchased a new stake in shares of Boyd Gaming during the first quarter worth approximately $4,408,000. Louisiana State Employees Retirement System increased its stake in shares of Boyd Gaming by 2.6% during the first quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the company’s stock worth $1,346,000 after buying an additional 500 shares during the period. Amalgamated Bank increased its stake in shares of Boyd Gaming by 1.0% during the first quarter. Amalgamated Bank now owns 47,733 shares of the company’s stock worth $3,213,000 after buying an additional 486 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Boyd Gaming by 0.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 31,457 shares of the company’s stock worth $2,118,000 after buying an additional 264 shares during the period. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

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.