Brokerages Set Boyd Gaming Co. (NYSE:BYD) Target Price at $79.67

Boyd Gaming Co. (NYSE:BYD) has been given an average rating of “Moderate Buy” by the thirteen research firms that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $80.08.

BYD has been the topic of several analyst reports. Barclays reduced their price target on shares of Boyd Gaming from $78.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Truist Financial cut 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 report on Tuesday, April 1st. Wells Fargo & Company raised their target price on shares of Boyd Gaming from $82.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. JMP Securities restated a “market perform” rating on shares of Boyd Gaming in a research report on Friday, February 7th. Finally, Macquarie restated a “neutral” rating and issued a $74.00 target price on shares of Boyd Gaming in a research report on Friday, April 25th.

Hedge Funds Weigh In On Boyd Gaming

Large investors have recently modified their holdings of the business. Advisors Asset Management Inc. raised its stake in shares of Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after acquiring an additional 196 shares during the last quarter. CoreCap Advisors LLC raised its stake in shares of Boyd Gaming by 91.0% during the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock valued at $42,000 after acquiring an additional 273 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Boyd Gaming by 68.0% during the first quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock valued at $51,000 after acquiring an additional 313 shares during the last quarter. UMB Bank n.a. raised its stake in Boyd Gaming by 156.0% during the first quarter. UMB Bank n.a. now owns 1,006 shares of the company’s stock worth $66,000 after buying an additional 613 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Boyd Gaming during the fourth quarter worth $67,000. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Stock Performance

NYSE BYD opened at $74.11 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 4.46 and a beta of 1.26. The firm’s 50 day simple moving average is $69.72 and its 200 day simple moving average is $72.02. Boyd Gaming has a 1 year low of $51.62 and a 1 year high of $80.50.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.10. The business had revenue of $991.57 million for the quarter, compared to analyst estimates of $976.38 million. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $1.51 EPS. As a group, research analysts expect that Boyd Gaming will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Monday, June 16th. Boyd Gaming’s payout ratio is currently 11.75%.

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.