Boyd Gaming Co. (NYSE:BYD) Receives $79.67 Average Price Target from Brokerages

Shares of Boyd Gaming Co. (NYSE:BYD - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $79.67.

A number of research firms have recently weighed in on BYD. Macquarie reissued a "neutral" rating and set a $74.00 target price on shares of Boyd Gaming in a research report on Friday, April 25th. Morgan Stanley cut their price objective on shares of Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Stifel Nicolaus cut their price objective on shares of Boyd Gaming from $82.00 to $71.00 and set a "hold" rating for the company in a report on Friday, April 25th. Truist Financial cut their price objective on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Finally, Mizuho cut their price objective on shares of Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its position in Boyd Gaming by 56.8% in 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 in the last quarter. Louisiana State Employees Retirement System grew its position in Boyd Gaming by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the company's stock worth $1,224,000 after acquiring an additional 200 shares in the last quarter. State of Alaska Department of Revenue grew its position in Boyd Gaming by 0.4% in the first quarter. State of Alaska Department of Revenue now owns 47,753 shares of the company's stock worth $3,143,000 after acquiring an additional 205 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in Boyd Gaming by 7.1% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,000 shares of the company's stock worth $263,000 after acquiring an additional 265 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Boyd Gaming by 28.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the company's stock worth $80,000 after acquiring an additional 265 shares in the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Boyd Gaming Stock Down 1.2%

NYSE:BYD traded down $0.87 on Friday, hitting $73.78. The stock had a trading volume of 563,105 shares, compared to its average volume of 932,770. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The stock has a market cap of $6.01 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 4.46 and a beta of 1.32. Boyd Gaming has a 1 year low of $51.62 and a 1 year high of $80.50. The firm's fifty day simple moving average is $69.40 and its two-hundred day simple moving average is $72.00.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $1.62 earnings per share 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 firm had revenue of $991.57 million during the quarter, compared to the consensus estimate of $976.38 million. During the same period in the prior year, the firm earned $1.51 EPS. The company's revenue was up 3.2% compared to the same quarter last year. Analysts predict that Boyd Gaming 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 Tuesday, July 15th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Monday, June 16th. Boyd Gaming's dividend 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.