JPMorgan Chase & Co. Boosts Boyd Gaming (NYSE:BYD) Price Target to $80.00

Boyd Gaming (NYSE:BYDFree Report) had its price target lifted by JPMorgan Chase & Co. from $78.00 to $80.00 in a report released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research firms have also recently issued reports on BYD. Morgan Stanley lowered their price objective on shares of Boyd Gaming from $72.00 to $67.00 and set an equal weight rating for the company in a research report on Wednesday, October 25th. Truist Financial reissued a buy rating and set a $83.00 target price on shares of Boyd Gaming in a report on Wednesday, November 29th. StockNews.com raised shares of Boyd Gaming from a hold rating to a buy rating in a report on Wednesday, January 24th. Wells Fargo & Company boosted their target price on shares of Boyd Gaming from $81.00 to $82.00 and gave the stock an overweight rating in a report on Friday. Finally, Stifel Nicolaus reissued a hold rating and set a $69.00 target price on shares of Boyd Gaming in a report on Friday, January 5th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Boyd Gaming presently has an average rating of Moderate Buy and a consensus target price of $75.33.

Check Out Our Latest Stock Analysis on Boyd Gaming

Boyd Gaming Stock Performance

Shares of BYD stock opened at $66.57 on Friday. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 2.89 and a beta of 1.61. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.77 and a current ratio of 0.80. The company has a 50-day simple moving average of $62.76 and a 200 day simple moving average of $62.12. Boyd Gaming has a 52 week low of $52.42 and a 52 week high of $73.00.

Boyd Gaming (NYSE:BYDGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.23. Boyd Gaming had a net margin of 16.58% and a return on equity of 37.07%. The business had revenue of $954.41 million during the quarter, compared to analysts’ expectations of $928.04 million. During the same quarter in the previous year, the company earned $1.72 EPS. The business’s revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts predict that Boyd Gaming will post 6.12 earnings per share for the current year.

Boyd Gaming Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Friday, December 22nd were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, December 21st. Boyd Gaming’s payout ratio is 10.49%.

Institutional Investors Weigh In On Boyd Gaming

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. boosted its position in shares of Boyd Gaming by 885.4% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,657,441 shares of the company’s stock valued at $100,822,000 after acquiring an additional 1,489,240 shares during the last quarter. Ariel Investments LLC boosted its position in shares of Boyd Gaming by 63.4% during the 1st quarter. Ariel Investments LLC now owns 2,629,438 shares of the company’s stock valued at $172,965,000 after acquiring an additional 1,020,515 shares during the last quarter. Millennium Management LLC boosted its position in shares of Boyd Gaming by 98.1% during the 4th quarter. Millennium Management LLC now owns 1,711,767 shares of the company’s stock valued at $93,343,000 after acquiring an additional 847,797 shares during the last quarter. Boston Partners boosted its position in shares of Boyd Gaming by 65.3% during the 2nd quarter. Boston Partners now owns 2,131,052 shares of the company’s stock valued at $147,816,000 after acquiring an additional 841,570 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Boyd Gaming during the 4th quarter valued at approximately $41,625,000. Hedge funds and other institutional investors own 67.98% of the company’s stock.

About Boyd Gaming

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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. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South.

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