Boyd Gaming’s (BYD) “Neutral” Rating Reaffirmed at Macquarie

Macquarie reissued their neutral rating on shares of Boyd Gaming (NYSE:BYD) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $74.00 price objective on the stock.

Several other brokerages also recently commented on BYD. JMP Securities restated a “market perform” rating on shares of Boyd Gaming in a research note on Friday, February 7th. Mizuho reduced their price objective on shares of Boyd Gaming from $86.00 to $83.00 and set an “outperform” rating for the company in a research note on Wednesday. Truist Financial lowered their target price on shares of Boyd Gaming from $92.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Barclays reduced their price target on shares of Boyd Gaming from $78.00 to $73.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company increased their price objective on Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Boyd Gaming has an average rating of “Moderate Buy” and an average target price of $93.47.

Boyd Gaming Stock Performance

NYSE BYD opened at $69.02 on Friday. The company’s 50 day moving average is $68.38 and its 200-day moving average is $71.09. The firm has a market cap of $5.70 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 4.46 and a beta of 1.31. Boyd Gaming has a 12-month low of $49.34 and a 12-month high of $80.50. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, April 24th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.10. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. The business had revenue of $991.57 million for the quarter, compared to analysts’ expectations of $976.38 million. Sell-side analysts predict that Boyd Gaming will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were given a dividend of $0.18 per share. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Monday, March 17th. Boyd Gaming’s dividend payout ratio (DPR) is presently 11.58%.

Insiders Place Their Bets

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total value of $3,884,000.00. Following the completion of the sale, the chairman now owns 1,346,628 shares in the company, valued at approximately $104,606,063.04. The trade was a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christine J. Spadafor sold 1,125 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $75.28, for a total transaction of $84,690.00. Following the completion of the transaction, the director now owns 4,852 shares in the company, valued at $365,258.56. This represents a 18.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,125 shares of company stock valued at $5,158,490. 27.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boyd Gaming

A number of large investors have recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in shares of Boyd Gaming by 80.3% during the fourth quarter. UMB Bank n.a. now owns 393 shares of the company’s stock worth $29,000 after purchasing an additional 175 shares during the period. GAMMA Investing LLC raised its position in Boyd Gaming by 47.4% during the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in Boyd Gaming by 91.0% in the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock worth $42,000 after buying an additional 273 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Boyd Gaming in the 3rd quarter worth approximately $64,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Boyd Gaming during the fourth quarter valued at approximately $67,000. 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.