Brokerages Set Boyd Gaming Corporation (NYSE:BYD) PT at $92.58

Boyd Gaming Corporation (NYSE:BYD) has been assigned an average rating of “Hold” from the fourteen brokerages that are presently covering the company, MarketBeat reports. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $92.5833.

Several research firms recently issued reports on BYD. Citigroup initiated coverage on Boyd Gaming in a research report on Thursday, November 20th. They set a “neutral” rating and a $86.00 price target on the stock. Morgan Stanley set a $86.00 target price on shares of Boyd Gaming in a report on Wednesday, February 11th. Mizuho set a $100.00 price target on shares of Boyd Gaming in a research report on Monday, February 2nd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Boyd Gaming in a report on Wednesday, December 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Boyd Gaming in a research note on Monday, December 29th.

Insider Buying and Selling

In related news, insider Stephen S. Thompson sold 19,530 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $83.59, for a total value of $1,632,512.70. Following the sale, the insider owned 22,009 shares of the company’s stock, valued at approximately $1,839,732.31. This trade represents a 47.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Josh Hirsberg sold 23,924 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $85.86, for a total value of $2,054,114.64. Following the transaction, the chief financial officer owned 435,746 shares of the company’s stock, valued at $37,413,151.56. This represents a 5.20% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 73,454 shares of company stock valued at $6,231,827. Insiders own 21.97% of the company’s stock.

Hedge Funds Weigh In On Boyd Gaming

Institutional investors have recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in Boyd Gaming in the 4th quarter worth about $25,000. Los Angeles Capital Management LLC acquired a new position in shares of Boyd Gaming during the fourth quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Boyd Gaming by 219.8% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock worth $29,000 after buying an additional 255 shares during the period. First Horizon Corp bought a new position in Boyd Gaming in the 4th quarter worth approximately $41,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Boyd Gaming in the 2nd quarter valued at approximately $39,000. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Stock Performance

Shares of Boyd Gaming stock opened at $77.75 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.52 and a current ratio of 0.54. Boyd Gaming has a 1 year low of $58.94 and a 1 year high of $89.96. The firm’s 50-day simple moving average is $84.89 and its 200-day simple moving average is $83.81. The firm has a market cap of $5.87 billion, a PE ratio of 3.42, a price-to-earnings-growth ratio of 1.69 and a beta of 1.20.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.33. Boyd Gaming had a return on equity of 30.14% and a net margin of 45.05%.The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company earned $1.96 earnings per share. Boyd Gaming’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts forecast that Boyd Gaming will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, March 16th. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.18. Boyd Gaming’s payout ratio is currently 3.16%.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.