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

Boyd Gaming Corporation (NYSE:BYD) has been given an average recommendation of “Hold” by the fourteen analysts that are currently covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $92.5833.

Several brokerages recently weighed in on BYD. Jefferies Financial Group reaffirmed a “buy” rating on shares of Boyd Gaming in a report on Wednesday, December 24th. UBS Group set a $110.00 target price on Boyd Gaming in a research report on Wednesday, December 24th. Stifel Nicolaus boosted their price target on Boyd Gaming from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, February 6th. Susquehanna dropped their price target on Boyd Gaming from $90.00 to $89.00 and set a “neutral” rating for the company in a research note on Wednesday, February 11th. Finally, Morgan Stanley set a $86.00 price objective on shares of Boyd Gaming in a research report on Wednesday, February 11th.

Boyd Gaming Trading Up 2.4%

Boyd Gaming stock opened at $82.07 on Friday. Boyd Gaming has a 12-month low of $58.94 and a 12-month high of $89.96. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 3.61, a P/E/G ratio of 1.69 and a beta of 1.20. The firm has a 50 day moving average of $83.03 and a 200 day moving average of $83.33. The company has a current ratio of 0.54, a quick ratio of 0.52 and a debt-to-equity ratio of 0.78.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.33. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.96 earnings per share. As a group, research analysts predict that Boyd Gaming will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, March 16th. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.18. Boyd Gaming’s dividend payout ratio is presently 3.52%.

Insider Buying and Selling at Boyd Gaming

In related news, Director William R. Boyd sold 30,000 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $84.84, for a total value of $2,545,200.00. Following the sale, the director directly owned 1,930,447 shares in the company, valued at approximately $163,779,123.48. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen S. Thompson sold 19,530 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $83.59, for a total value of $1,632,512.70. Following the transaction, the insider directly owned 22,009 shares of the company’s stock, valued at approximately $1,839,732.31. The trade was a 47.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 73,454 shares of company stock valued at $6,231,827 in the last 90 days. Insiders own 22.82% of the company’s stock.

Institutional Trading of Boyd Gaming

Several hedge funds have recently modified their holdings of BYD. Altshuler Shaham Ltd purchased a new position in shares of Boyd Gaming in the fourth quarter valued at $25,000. Los Angeles Capital Management LLC bought a new position in Boyd Gaming during the fourth quarter valued at $25,000. Advisors Asset Management Inc. grew its stake in shares of Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after buying an additional 196 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Boyd Gaming in the 2nd quarter worth about $39,000. Finally, First Horizon Corp bought a new stake in shares of Boyd Gaming in the 4th quarter worth about $41,000. 76.81% of the stock is owned by hedge funds and other institutional investors.

About Boyd Gaming

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.