Boyd Gaming (NYSE:BYD) Given New $87.00 Price Target at Morgan Stanley

Boyd Gaming (NYSE:BYD) had its price objective boosted by Morgan Stanley from $86.00 to $87.00 in a report issued on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other research analysts have also issued reports about the company. Stifel Nicolaus raised their price target on Boyd Gaming from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, February 6th. Mizuho set a $100.00 price target on Boyd Gaming in a research report on Monday, February 2nd. UBS Group set a $110.00 price target on Boyd Gaming in a research report on Wednesday, December 24th. Weiss Ratings restated a “buy (b)” rating on shares of Boyd Gaming in a research report on Monday, December 29th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Boyd Gaming in a research note on Wednesday, December 24th. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $92.50.

Boyd Gaming Stock Up 3.4%

NYSE:BYD opened at $86.26 on Wednesday. Boyd Gaming has a 12-month low of $60.39 and a 12-month high of $89.96. The company has a quick ratio of 0.52, a current ratio of 0.54 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $6.50 billion, a P/E ratio of 3.79, a P/E/G ratio of 1.76 and a beta of 1.19. The stock’s fifty day simple moving average is $83.07 and its 200-day simple moving average is $83.38.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.33. Boyd Gaming had a return on equity of 30.14% and a net margin of 45.05%.The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company earned $1.96 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. Equities research analysts expect that Boyd Gaming will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, March 16th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.18. Boyd Gaming’s dividend payout ratio (DPR) is 3.52%.

Insider Buying and Selling

In related news, insider Stephen S. Thompson sold 19,530 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $83.59, for a total transaction of $1,632,512.70. Following the sale, the insider owned 22,009 shares of the company’s stock, valued at approximately $1,839,732.31. This trade represents a 47.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Josh Hirsberg sold 23,924 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $85.86, for a total value of $2,054,114.64. Following the sale, the chief financial officer directly owned 435,746 shares in the company, valued at $37,413,151.56. The trade was a 5.20% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 73,454 shares of company stock valued at $6,231,827. 27.94% of the stock is owned by company insiders.

Institutional Trading of Boyd Gaming

Hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. raised its stake in shares of Boyd Gaming by 94.8% in the 3rd quarter. Citigroup Inc. now owns 229,823 shares of the company’s stock valued at $19,868,000 after purchasing an additional 111,815 shares during the period. Asset Management One Co. Ltd. acquired a new stake in shares of Boyd Gaming in the 3rd quarter valued at about $1,531,000. Envestnet Asset Management Inc. raised its stake in shares of Boyd Gaming by 78.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 127,303 shares of the company’s stock valued at $11,005,000 after purchasing an additional 55,923 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Boyd Gaming by 174.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 274,154 shares of the company’s stock valued at $23,701,000 after purchasing an additional 174,214 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Boyd Gaming by 9.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 340,281 shares of the company’s stock valued at $29,615,000 after purchasing an additional 30,543 shares during the period. Institutional investors and hedge funds 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.