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

Boyd Gaming (NYSE:BYD) had its target price decreased by Truist Financial from $80.00 to $75.00 in a research note issued to investors on Friday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

BYD has been the topic of a number of other reports. Mizuho dropped their target price on Boyd Gaming from $80.00 to $78.00 and set a buy rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered Boyd Gaming from an overweight rating to a neutral rating and dropped their price objective for the company from $80.00 to $67.00 in a report on Friday. StockNews.com upgraded Boyd Gaming from a hold rating to a buy rating in a research report on Wednesday, January 24th. Morgan Stanley lifted their price target on shares of Boyd Gaming from $71.00 to $72.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. Finally, Susquehanna restated a neutral rating and set a $75.00 price objective (down from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Boyd Gaming currently has an average rating of Hold and a consensus target price of $72.20.

Boyd Gaming Trading Up 1.4 %

Boyd Gaming stock opened at $53.95 on Friday. The firm has a market cap of $5.16 billion, a PE ratio of 9.69, a P/E/G ratio of 2.49 and a beta of 1.60. Boyd Gaming has a 12 month low of $52.42 and a 12 month high of $73.00. The stock’s 50 day simple moving average is $63.80 and its two-hundred day simple moving average is $61.99. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, February 8th. The company reported $1.66 earnings per share (EPS) 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 analysts’ expectations of $928.04 million. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.77%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.72 EPS. Analysts anticipate that Boyd Gaming will post 6.2 earnings per share for the current 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 paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s payout ratio is 12.21%.

Insider Transactions at Boyd Gaming

In other news, major shareholder William S. Boyd sold 63,464 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 8,795,449 shares of the company’s stock, valued at $555,168,740.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Boyd Gaming news, major shareholder William S. Boyd sold 125,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the transaction, the insider now owns 9,358,913 shares of the company’s stock, valued at $596,817,882.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder William S. Boyd sold 63,464 shares of the company’s stock in a transaction 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 owns 8,795,449 shares of the company’s stock, valued at $555,168,740.88. The disclosure for this sale can be found here. Insiders sold 582,910 shares of company stock valued at $37,299,461 over the last 90 days. 28.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Oak Thistle LLC acquired a new stake in Boyd Gaming during the third quarter worth about $805,000. Linden Thomas Advisory Services LLC increased its holdings in shares of Boyd Gaming by 12.3% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 12,738 shares of the company’s stock worth $775,000 after buying an additional 1,392 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Boyd Gaming by 17.6% during the 3rd quarter. Raymond James & Associates now owns 115,605 shares of the company’s stock worth $7,032,000 after buying an additional 17,321 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Boyd Gaming during the 3rd quarter valued at approximately $1,898,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Boyd Gaming by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,073 shares of the company’s stock valued at $917,000 after acquiring an additional 1,795 shares during the last quarter. 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.