Boyd Gaming (NYSE:BYD) Lowered to Hold at Argus

Argus downgraded shares of Boyd Gaming (NYSE:BYD) from a buy rating to a hold rating in a report published on Wednesday, MarketBeat.com reports.

Several other research analysts have also issued reports on the company. Stifel Nicolaus lowered their target price on Boyd Gaming from $71.00 to $65.00 and set a hold rating for the company in a research report on Friday, April 26th. Truist Financial lowered their target price on Boyd Gaming from $80.00 to $75.00 and set a buy rating for the company in a research report on Friday, April 26th. Susquehanna reaffirmed a neutral rating and set a $75.00 target price (down from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th. Wells Fargo & Company lowered their target price on Boyd Gaming from $82.00 to $71.00 and set an overweight rating for the company in a research report on Friday, April 26th. Finally, StockNews.com raised Boyd Gaming from a hold rating to a buy rating in a research report on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Boyd Gaming currently has a consensus rating of Hold and a consensus target price of $72.20.

Boyd Gaming Stock Down 0.3 %

Shares of BYD opened at $53.36 on Wednesday. Boyd Gaming has a 52 week low of $52.42 and a 52 week high of $73.00. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 2.55 and a beta of 1.60. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a fifty day moving average of $63.62 and a 200-day moving average of $61.95.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, February 8th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The company had revenue of $954.41 million during the quarter, compared to analysts’ expectations of $928.04 million. Boyd Gaming had a return on equity of 34.77% and a net margin of 14.91%. Boyd Gaming’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.72 EPS. As a group, sell-side analysts anticipate that Boyd Gaming will post 6.13 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a dividend of $0.17 per share. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Thursday, March 14th. Boyd Gaming’s dividend payout ratio (DPR) is presently 12.21%.

Insiders Place Their Bets

In other news, Director A. Randall Thoman sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total value of $159,375.00. Following the completion of the sale, the director now directly owns 4,017 shares in the company, valued at approximately $256,083.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP William R. Boyd sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $64.04, for a total value of $3,202,000.00. Following the completion of the sale, the vice president now directly owns 1,617,970 shares in the company, valued at approximately $103,614,798.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director A. Randall Thoman sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total value of $159,375.00. Following the completion of the sale, the director now owns 4,017 shares of the company’s stock, valued at $256,083.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 582,910 shares of company stock worth $37,299,461. Company insiders own 28.40% of the company’s stock.

Institutional Trading of Boyd Gaming

Large investors have recently made changes to their positions in the company. Deutsche Bank AG boosted its stake in Boyd Gaming by 23.3% during the 3rd quarter. Deutsche Bank AG now owns 230,397 shares of the company’s stock valued at $14,015,000 after purchasing an additional 43,578 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Boyd Gaming during the 4th quarter valued at about $117,720,000. Sei Investments Co. boosted its stake in Boyd Gaming by 8.6% during the 3rd quarter. Sei Investments Co. now owns 243,365 shares of the company’s stock valued at $14,804,000 after purchasing an additional 19,256 shares during the last quarter. UBS Group AG boosted its stake in Boyd Gaming by 4.9% during the 3rd quarter. UBS Group AG now owns 274,235 shares of the company’s stock valued at $16,682,000 after purchasing an additional 12,798 shares during the last quarter. Finally, Black Diamond Capital Management L.L.C. acquired a new position in Boyd Gaming during the 3rd quarter valued at about $4,988,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

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.