Boyd Gaming (NYSE:BYD) Price Target Lowered to $75.00 at Truist Financial

Boyd Gaming (NYSE:BYD) had its target price reduced by Truist Financial from $80.00 to $75.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on BYD. Mizuho decreased their price objective on Boyd Gaming from $80.00 to $78.00 and set a buy rating for the company in a report on Friday. Stifel Nicolaus reiterated a hold rating and issued a $69.00 target price on shares of Boyd Gaming in a report on Friday, January 5th. StockNews.com upgraded 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, February 9th. Finally, Barclays reduced their target price on shares of Boyd Gaming from $70.00 to $68.00 and set an equal weight rating for the company in a report on Friday. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $72.20.

Boyd Gaming Stock Performance

BYD stock opened at $53.18 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89 and a quick ratio of 0.85. The business has a 50-day moving average price of $63.98 and a 200 day moving average price of $62.01. The company has a market capitalization of $5.09 billion, a P/E ratio of 9.55, a PEG ratio of 2.94 and a beta of 1.60. Boyd Gaming has a 1-year low of $52.42 and a 1-year high of $73.00.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. The firm had revenue of $954.41 million during the quarter, compared to the consensus estimate of $928.04 million. Boyd Gaming had a return on equity of 34.77% and a net margin of 14.91%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.72 earnings per share. As a group, equities research analysts forecast that Boyd Gaming will post 6.19 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a dividend of $0.17 per share. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, March 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. Boyd Gaming’s payout ratio is presently 12.21%.

Insider Transactions at Boyd Gaming

In other news, Director A. Randall Thoman sold 2,500 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total transaction of $159,375.00. Following the sale, the director now owns 4,017 shares in the company, valued at $256,083.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director A. Randall Thoman sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total value of $159,375.00. Following the sale, the director now owns 4,017 shares in the company, valued at $256,083.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder William S. Boyd sold 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total value of $7,971,250.00. Following the completion of the sale, the insider now owns 9,358,913 shares in the company, valued at approximately $596,817,882.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 582,910 shares of company stock worth $37,299,461. Insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Boyd Gaming by 2.1% in the third quarter. Vanguard Group Inc. now owns 7,980,306 shares of the company’s stock valued at $485,442,000 after buying an additional 167,849 shares during the last quarter. Cohen & Steers Inc. boosted its position in Boyd Gaming by 34.4% in the 4th quarter. Cohen & Steers Inc. now owns 4,747,662 shares of the company’s stock worth $297,270,000 after purchasing an additional 1,216,121 shares in the last quarter. Boston Partners boosted its position in Boyd Gaming by 29.5% in the 4th quarter. Boston Partners now owns 2,756,215 shares of the company’s stock worth $172,638,000 after purchasing an additional 628,512 shares in the last quarter. HG Vora Capital Management LLC boosted its position in Boyd Gaming by 12.5% in the 3rd quarter. HG Vora Capital Management LLC now owns 2,250,000 shares of the company’s stock worth $136,868,000 after purchasing an additional 250,000 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its position in Boyd Gaming by 885.4% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,657,441 shares of the company’s stock worth $100,822,000 after purchasing an additional 1,489,240 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

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.