Argus Lowers Boyd Gaming (NYSE:BYD) to Hold

Argus lowered shares of Boyd Gaming (NYSE:BYD) from a buy rating to a hold rating in a report issued on Wednesday morning, Marketbeat reports.

Several other research analysts also recently commented on the company. Morgan Stanley raised their price objective on Boyd Gaming from $71.00 to $72.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. Stifel Nicolaus reduced their price objective on Boyd Gaming from $71.00 to $65.00 and set a hold rating on the stock in a report on Friday, April 26th. Truist Financial dropped their target price on Boyd Gaming from $80.00 to $75.00 and set a buy rating on the stock in a research report on Friday, April 26th. StockNews.com raised Boyd Gaming from a hold rating to a buy rating in a research report on Wednesday, January 24th. Finally, Barclays dropped their target price on Boyd Gaming from $70.00 to $68.00 and set an equal weight rating on the stock in a research report on Friday, April 26th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Boyd Gaming currently has a consensus rating of Hold and a consensus price target of $72.20.

Boyd Gaming Trading Down 0.1 %

BYD opened at $54.12 on Wednesday. The stock’s fifty day moving average is $63.04 and its two-hundred day moving average is $61.80. The company has a market capitalization of $5.18 billion, a P/E ratio of 9.72, a PEG ratio of 2.59 and a beta of 1.64. Boyd Gaming has a 52 week low of $52.42 and a 52 week high of $73.00. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.65.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $954.41 million for 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%. Boyd Gaming’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $1.72 EPS. Analysts forecast that Boyd Gaming will post 6.06 earnings per share for the current year.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a $0.17 dividend. This is a boost 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 1.26%. Boyd Gaming’s dividend payout ratio (DPR) is presently 12.21%.

Insider Transactions at Boyd Gaming

In other news, major shareholder William S. Boyd sold 125,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was 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 of the company’s stock, valued at approximately $596,817,882.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the chairman now owns 1,511,433 shares of the company’s stock, valued at approximately $98,046,658.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder William S. Boyd sold 125,000 shares of Boyd Gaming stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.77, for a total value of $7,971,250.00. Following the sale, the insider now directly owns 9,358,913 shares of the company’s stock, valued at approximately $596,817,882.01. The disclosure for this sale can be found here. Insiders sold 582,910 shares of company stock valued at $37,299,461 in the last quarter. 27.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Boyd Gaming

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its position in Boyd Gaming by 105.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock worth $25,000 after acquiring an additional 211 shares during the period. Rakuten Securities Inc. acquired a new stake in Boyd Gaming during the 4th quarter worth about $30,000. Allspring Global Investments Holdings LLC lifted its position in Boyd Gaming by 57.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock worth $35,000 after acquiring an additional 189 shares during the period. Principal Securities Inc. acquired a new stake in Boyd Gaming during the 4th quarter worth about $50,000. Finally, Allworth Financial LP lifted its position in Boyd Gaming by 3,333.3% during the 4th quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock worth $64,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

About Boyd Gaming

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.