Boyd Gaming (NYSE:BYD) Reaches New 1-Year High – What’s Next?

Boyd Gaming Corporation (NYSE:BYD)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $89.78 and last traded at $89.4310, with a volume of 357602 shares traded. The stock had previously closed at $87.47.

Analyst Ratings Changes

BYD has been the topic of a number of analyst reports. Macquarie reiterated a “neutral” rating and set a $90.00 target price on shares of Boyd Gaming in a report on Friday, October 24th. Wells Fargo & Company initiated coverage on Boyd Gaming in a research report on Tuesday, November 18th. They issued an “equal weight” rating and a $85.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Boyd Gaming from $87.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Truist Financial set a $110.00 target price on shares of Boyd Gaming in a research note on Tuesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Boyd Gaming in a report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $91.83.

Boyd Gaming Price Performance

The company has a debt-to-equity ratio of 0.71, a current ratio of 0.51 and a quick ratio of 0.49. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 3.93, a PEG ratio of 1.59 and a beta of 1.22. The company’s 50-day moving average is $83.63 and its 200-day moving average is $83.47.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.15. The firm had revenue of $726.95 million during the quarter, compared to the consensus estimate of $873.09 million. Boyd Gaming had a return on equity of 34.63% and a net margin of 46.02%.The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.52 earnings per share. On average, research analysts expect that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, December 15th. Boyd Gaming’s dividend payout ratio is 3.15%.

Insiders Place Their Bets

In other news, Director William R. Boyd sold 20,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the sale, the director owned 1,960,447 shares of the company’s stock, valued at approximately $157,541,520.92. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 27.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Boyd Gaming

Institutional investors have recently added to or reduced their stakes in the business. Ruffer LLP bought a new stake in shares of Boyd Gaming during the second quarter valued at about $6,471,000. Counterpoint Mutual Funds LLC bought a new position in Boyd Gaming in the 2nd quarter valued at about $402,000. Asset Management One Co. Ltd. acquired a new position in Boyd Gaming during the 3rd quarter valued at about $1,531,000. Fox Run Management L.L.C. bought a new stake in shares of Boyd Gaming during the 2nd quarter worth about $563,000. Finally, LSV Asset Management raised its position in shares of Boyd Gaming by 115.8% during the 2nd quarter. LSV Asset Management now owns 245,100 shares of the company’s stock worth $19,174,000 after buying an additional 131,500 shares in the last quarter. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Company Profile

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.