Boyd Gaming (NYSE:BYD) Given New $78.00 Price Target at Mizuho

Boyd Gaming (NYSE:BYD) had its target price reduced by Mizuho from $80.00 to $78.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on BYD. Barclays lifted their target price on Boyd Gaming from $66.00 to $67.00 and gave the company an equal weight rating in a research note on Friday, January 26th. Deutsche Bank Aktiengesellschaft cut Boyd Gaming from a buy rating to a hold rating and lowered their target price for the company from $78.00 to $71.00 in a research note on Friday. Truist Financial lifted their target price on Boyd Gaming from $76.00 to $80.00 and gave the company a buy rating in a research note on Friday, February 9th. Wells Fargo & Company lifted their price objective on Boyd Gaming from $81.00 to $82.00 and gave the stock an overweight rating in a research note on Friday, February 9th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $69.00 price objective on shares of Boyd Gaming in a research note on Friday, January 5th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $72.20.

Boyd Gaming Trading Down 15.4 %

Shares of BYD opened at $53.18 on Friday. The stock has a fifty day moving average price of $63.98 and a two-hundred day moving average price of $62.01. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 2.94 and a beta of 1.60. Boyd Gaming has a 52-week low of $52.42 and a 52-week high of $73.00. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, February 8th. The company reported $1.66 EPS for the quarter, beating the consensus estimate 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%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $1.72 EPS. Analysts predict that Boyd Gaming will post 6.19 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently announced 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. The ex-dividend date was Thursday, March 14th. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.28%. Boyd Gaming’s payout ratio is currently 12.21%.

Insiders Place Their Bets

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 77,661 shares of Boyd Gaming stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.87, for a total transaction of $5,037,869.07. Following the transaction, the chairman now directly owns 1,511,433 shares in the company, valued at $98,046,658.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 77,661 shares of Boyd Gaming stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.87, for a total transaction of $5,037,869.07. Following the transaction, the chairman now directly owns 1,511,433 shares in the company, valued at $98,046,658.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Keith Smith sold 75,000 shares of Boyd Gaming stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $63.92, for a total value of $4,794,000.00. Following the transaction, the chief executive officer now owns 1,119,625 shares in the company, valued at $71,566,430. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 582,910 shares of company stock worth $37,299,461. Corporate insiders own 27.94% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BYD. Deutsche Bank AG lifted its holdings in shares of Boyd Gaming by 23.3% in the third 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 in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Boyd Gaming in the fourth quarter valued at about $117,720,000. Sei Investments Co. lifted its holdings in shares of Boyd Gaming by 8.6% in the third 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 in the last quarter. UBS Group AG lifted its holdings in shares of Boyd Gaming by 4.9% in the third 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 in the last quarter. Finally, Black Diamond Capital Management L.L.C. bought a new stake in shares of Boyd Gaming in the third quarter valued at about $4,988,000. 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.