Boyd Gaming Co. (NYSE:BYD) Given Consensus Rating of “Buy” by Analysts

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Shares of Boyd Gaming Co. (NYSE:BYD) have been given a consensus recommendation of “Buy” by the twelve brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $36.75.

A number of brokerages have recently issued reports on BYD. Wolfe Research began coverage on Red Rock Resorts in a report on Friday, June 14th. They set a “peer perform” rating for the company. ValuEngine upgraded Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. TheStreet cut AMERCO from a “b” rating to a “c+” rating in a report on Monday, March 25th. Finally, Morgan Stanley set a $10.00 price objective on Ford Motor and gave the stock a “hold” rating in a report on Friday, April 26th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sageworth Trust Co acquired a new position in Boyd Gaming during the first quarter valued at approximately $28,000. State of Alaska Department of Revenue acquired a new position in Boyd Gaming during the first quarter valued at approximately $46,000. NEXT Financial Group Inc acquired a new position in Boyd Gaming during the second quarter valued at approximately $67,000. Strs Ohio raised its position in Boyd Gaming by 400.0% during the first quarter. Strs Ohio now owns 3,000 shares of the company’s stock valued at $82,000 after purchasing an additional 2,400 shares in the last quarter. Finally, HWG Holdings LP acquired a new position in Boyd Gaming during the first quarter valued at approximately $89,000. Institutional investors own 66.26% of the company’s stock.

Boyd Gaming stock traded down $0.61 during midday trading on Friday, reaching $26.61. 19,766 shares of the company’s stock were exchanged, compared to its average volume of 933,143. Boyd Gaming has a 52 week low of $18.98 and a 52 week high of $39.35. The company has a current ratio of 0.72, a quick ratio of 0.68 and a debt-to-equity ratio of 4.08. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 0.76 and a beta of 2.13. The firm has a 50-day moving average price of $26.30.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. Boyd Gaming had a return on equity of 13.57% and a net margin of 4.18%. The company had revenue of $827.30 million during the quarter, compared to analysts’ expectations of $826.52 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The business’s revenue was up 36.5% on a year-over-year basis. On average, sell-side analysts expect that Boyd Gaming will post 1.8 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, June 17th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, June 14th. Boyd Gaming’s payout ratio is presently 21.05%.

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.

See Also: Cash Asset Ratio

Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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