Boyd Gaming Corporation (NYSE:BYD) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts have a consensus rating of "Hold" on Boyd Gaming from 14 covering firms (nine hold, five buy), with an average 1-year price target of $92.75.
• Company insiders have been net sellers recently — including a director and the CFO — with 73,454 shares sold in the last 90 days valued at about $6.23 million; insiders still own 22.82% of the stock.
• Boyd topped quarterly expectations (EPS $2.21 vs. $1.88; revenue $1.06B vs. $1.02B) and raised its quarterly dividend to $0.20 ($0.80 annualized, ~0.9% yield).

Shares of Boyd Gaming Corporation (NYSE:BYD - Get Free Report) have been assigned a consensus recommendation of "Hold" from the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $92.75.

A number of research firms recently commented on BYD. Susquehanna dropped their price target on shares of Boyd Gaming from $89.00 to $87.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Wells Fargo & Company dropped their price target on shares of Boyd Gaming from $84.00 to $83.00 and set an "equal weight" rating for the company in a research note on Thursday. Stifel Nicolaus lifted their price target on shares of Boyd Gaming from $90.00 to $95.00 and gave the stock a "hold" rating in a research note on Friday, February 6th. Morgan Stanley reaffirmed a "mixed" rating on shares of Boyd Gaming in a research note on Wednesday, April 8th. Finally, Citigroup lifted their price target on shares of Boyd Gaming from $86.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday.

Insider Buying and Selling

In related news, Director William R. Boyd sold 30,000 shares of Boyd Gaming stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $84.84, for a total transaction of $2,545,200.00. Following the completion of the transaction, the director directly owned 1,930,447 shares of the company's stock, valued at approximately $163,779,123.48. The trade was a 1.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Josh Hirsberg sold 23,924 shares of Boyd Gaming stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $85.86, for a total transaction of $2,054,114.64. Following the sale, the chief financial officer owned 435,746 shares of the company's stock, valued at $37,413,151.56. The trade was a 5.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 73,454 shares of company stock valued at $6,231,827. Company insiders own 22.82% of the company's stock.

Institutional Investors Weigh In On Boyd Gaming

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new stake in Boyd Gaming during the 4th quarter valued at about $25,000. Los Angeles Capital Management LLC bought a new stake in Boyd Gaming during the 4th quarter valued at about $25,000. Advisors Asset Management Inc. lifted its holdings in Boyd Gaming by 56.8% during the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company's stock valued at $36,000 after buying an additional 196 shares in the last quarter. First Horizon Corp bought a new stake in Boyd Gaming during the 4th quarter valued at about $41,000. Finally, True Wealth Design LLC lifted its holdings in Boyd Gaming by 162.1% during the 3rd quarter. True Wealth Design LLC now owns 532 shares of the company's stock valued at $46,000 after buying an additional 329 shares in the last quarter. Institutional investors own 76.81% of the company's stock.

Boyd Gaming Stock Performance

Shares of NYSE:BYD opened at $88.11 on Tuesday. Boyd Gaming has a 52 week low of $63.33 and a 52 week 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 fifty day simple moving average of $83.53 and a two-hundred day simple moving average of $83.42. The stock has a market capitalization of $6.63 billion, a P/E ratio of 3.87, a PEG ratio of 1.85 and a beta of 1.19.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $1.88 by $0.33. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the previous year, the company earned $1.96 EPS. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts expect that Boyd Gaming will post 7.55 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 16th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Boyd Gaming's previous quarterly dividend of $0.18. Boyd Gaming's dividend payout ratio is presently 3.52%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.