Boyd Gaming Corporation (NYSE:BYD) Given Average Rating of “Hold” by Analysts

Shares of Boyd Gaming Corporation (NYSE:BYD) have been given a consensus recommendation of “Hold” by the sixteen brokerages that are presently covering the company, Marketbeat.com reports. Ten analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $94.6923.

Several research analysts have recently weighed in on BYD shares. Benchmark assumed coverage on shares of Boyd Gaming in a report on Monday, June 22nd. They set a “buy” rating and a $100.00 price objective for the company. Morgan Stanley reduced their price target on shares of Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating for the company in a research report on Monday, July 27th. Stifel Nicolaus lifted their target price on Boyd Gaming from $91.00 to $92.00 and gave the company a “hold” rating in a research report on Friday, July 24th. Weiss Ratings downgraded Boyd Gaming from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Susquehanna increased their target price on shares of Boyd Gaming from $84.00 to $87.00 and gave the stock a “neutral” rating in a report on Friday, July 24th.

Boyd Gaming Trading Up 0.3%

Shares of NYSE:BYD opened at $79.67 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.77 and a quick ratio of 0.74. Boyd Gaming has a 1 year low of $76.33 and a 1 year high of $91.41. The company has a market cap of $5.79 billion, a P/E ratio of 3.51, a PEG ratio of 1.96 and a beta of 1.08. The stock’s fifty day moving average price is $85.65 and its 200-day moving average price is $84.50.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, July 23rd. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.89 by $0.04. Boyd Gaming had a return on equity of 22.52% and a net margin of 44.34%.The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the company earned $1.87 EPS. Boyd Gaming’s revenue for the quarter was up .0% on a year-over-year basis. Sell-side analysts expect that Boyd Gaming will post 7.29 earnings per share for the current year.

Boyd Gaming Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. Boyd Gaming’s dividend payout ratio is 3.52%.

Insider Buying and Selling at Boyd Gaming

In related news, CFO Josh Hirsberg sold 12,777 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total value of $1,146,863.52. Following the completion of the transaction, the chief financial officer owned 422,969 shares of the company’s stock, valued at approximately $37,965,697.44. This represents a 2.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Keith Smith sold 100,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $85.90, for a total value of $8,590,000.00. Following the completion of the sale, the chief executive officer owned 996,981 shares of the company’s stock, valued at $85,640,667.90. The trade was a 9.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 112,789 shares of company stock worth $9,737,848 over the last 90 days. Insiders own 22.82% of the company’s stock.

Institutional Trading of Boyd Gaming

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd purchased a new stake in Boyd Gaming during the 4th quarter valued at approximately $25,000. Los Angeles Capital Management LLC purchased a new position in shares of Boyd Gaming in the fourth quarter worth $25,000. Bessemer Group Inc. lifted its holdings in shares of Boyd Gaming by 62.8% in the first quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock worth $43,000 after buying an additional 203 shares in the last quarter. Advisors Asset Management Inc. boosted its position 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 worth $36,000 after acquiring an additional 196 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new position in Boyd Gaming during the third quarter valued at $53,000. Institutional investors own 76.81% of the company’s stock.

About Boyd Gaming

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.