Boyd Gaming (NYSE:BYD) Price Target Raised to $76.00

Boyd Gaming (NYSE:BYD) had its price objective increased by Stifel Nicolaus from $71.00 to $76.00 in a report issued on Thursday,Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts have also weighed in on the company. Susquehanna boosted their target price on Boyd Gaming from $75.00 to $76.00 and gave the stock a “positive” rating in a report on Friday, April 25th. Wells Fargo & Company boosted their target price on Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Wall Street Zen lowered Boyd Gaming from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 27th. Truist Financial reduced their target price on Boyd Gaming from $92.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Finally, Morgan Stanley reduced their target price on Boyd Gaming from $75.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $80.08.

Boyd Gaming Trading Up 1.1%

Shares of NYSE BYD opened at $74.11 on Thursday. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 4.46 and a beta of 1.26. The business has a 50 day simple moving average of $69.72 and a 200 day simple moving average of $72.03. Boyd Gaming has a 52 week low of $51.62 and a 52 week high of $80.50. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.52 by $0.10. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. The business had revenue of $991.57 million during the quarter, compared to analysts’ expectations of $976.38 million. During the same quarter in the previous year, the business posted $1.51 EPS. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, research analysts predict that Boyd Gaming will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Monday, June 16th. Boyd Gaming’s dividend payout ratio (DPR) is 11.75%.

Institutional Trading of Boyd Gaming

Large investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. grew its holdings in shares of Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after purchasing an additional 196 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Boyd Gaming by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the company’s stock worth $1,224,000 after purchasing an additional 200 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Boyd Gaming by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 47,753 shares of the company’s stock worth $3,143,000 after purchasing an additional 205 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Boyd Gaming by 7.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,000 shares of the company’s stock worth $263,000 after purchasing an additional 265 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Boyd Gaming by 28.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the company’s stock worth $80,000 after purchasing an additional 265 shares during the last quarter. 76.81% 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 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.