Boyd Gaming (NYSE:BYD) Earns Buy Rating from Analysts at Mizuho

Mizuho started coverage on shares of Boyd Gaming (NYSE:BYD) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $80.00 price target on the stock.

BYD has been the subject of several other research reports. JPMorgan Chase & Co. raised their price objective on shares of Boyd Gaming from $78.00 to $80.00 and gave the company an overweight rating in a research note on Friday, February 9th. Barclays raised their price objective on shares of Boyd Gaming from $66.00 to $67.00 and gave the company an equal weight rating in a research note on Friday, January 26th. Wells Fargo & Company lifted their target price on shares of Boyd Gaming from $81.00 to $82.00 and gave the stock an overweight rating in a research report on Friday, February 9th. Truist Financial lifted their target price on shares of Boyd Gaming from $76.00 to $80.00 and gave the stock a buy rating in a research report on Friday, February 9th. Finally, Morgan Stanley lifted their target price on shares of Boyd Gaming from $70.00 to $71.00 and gave the stock an equal weight rating in a research report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and seven 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 price target of $76.20.

Boyd Gaming Stock Up 1.4 %

BYD stock opened at $67.32 on Tuesday. Boyd Gaming has a one year low of $52.42 and a one year high of $73.00. The stock has a market capitalization of $6.44 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 3.07 and a beta of 1.60. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89. The company has a fifty day moving average of $64.07 and a 200-day moving average of $61.61.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, February 8th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.43 by $0.23. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The firm had revenue of $954.41 million during the quarter, compared to analysts’ expectations of $928.04 million. During the same quarter last year, the business earned $1.72 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts expect that Boyd Gaming will post 6.19 EPS for the current year.

Boyd Gaming Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, March 14th. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.01%. Boyd Gaming’s payout ratio is 11.15%.

Insider Transactions at Boyd Gaming

In other news, Director A. Randall Thoman sold 2,500 shares of Boyd Gaming stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total transaction of $159,375.00. Following the completion of the sale, the director now directly 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 accessible through this link. In related news, major shareholder William S. Boyd sold 63,464 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total value of $4,005,847.68. Following the completion of the sale, the insider now directly owns 8,795,449 shares in the company, valued at $555,168,740.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director A. Randall Thoman sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total transaction of $159,375.00. Following the completion of the sale, the director now owns 4,017 shares of the company’s stock, valued at $256,083.75. The disclosure for this sale can be found here. Insiders sold a total of 582,910 shares of company stock worth $37,299,461 over the last ninety days. 27.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Prospera Financial Services Inc lifted its position in shares of Boyd Gaming by 3.1% during the first quarter. Prospera Financial Services Inc now owns 5,306 shares of the company’s stock worth $340,000 after purchasing an additional 159 shares in the last quarter. Sunbelt Securities Inc. lifted its position in shares of Boyd Gaming by 15.0% during the second quarter. Sunbelt Securities Inc. now owns 1,575 shares of the company’s stock worth $109,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Boyd Gaming by 105.5% in the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock valued at $25,000 after acquiring an additional 211 shares in the last quarter. Great Lakes Advisors LLC raised its holdings in Boyd Gaming by 3.7% in the third quarter. Great Lakes Advisors LLC now owns 5,971 shares of the company’s stock valued at $363,000 after acquiring an additional 213 shares in the last quarter. Finally, Cetera Advisor Networks LLC raised its holdings in Boyd Gaming by 3.1% in the second quarter. Cetera Advisor Networks LLC now owns 7,163 shares of the company’s stock valued at $497,000 after acquiring an additional 218 shares in the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

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.