Boyd Gaming Corporation (NYSE:BYD) Receives Average Rating of "Hold" from Analysts

Key Points

• Boyd Gaming Corporation (NYSE:BYD) has been rated with an average recommendation of "Hold" by analysts, with one sell, seven hold, and six buy ratings from the fourteen research firms covering the stock.
• CEO Keith Smith and Chairman Marianne Boyd Johnson recently sold significant shares of Boyd Gaming, amounting to 4.36% and 6.23% decreases in their respective holdings.
• The company reported strong earnings with a net margin of 14.02% and a year-over-year revenue growth of 6.9%, alongside a recently declared quarterly dividend of $0.18.

Shares of Boyd Gaming Corporation (NYSE:BYD - Get Free Report) have been given an average recommendation of "Hold" by the fourteen research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $87.8333.

BYD has been the subject of a number of research reports. Truist Financial boosted their price target on shares of Boyd Gaming from $85.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Macquarie boosted their price target on shares of Boyd Gaming from $74.00 to $88.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Morgan Stanley reissued a "sell" rating on shares of Boyd Gaming in a research note on Friday, July 11th. Susquehanna cut shares of Boyd Gaming from a "positive" rating to a "neutral" rating and boosted their price target for the stock from $76.00 to $86.00 in a research note on Friday, July 11th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Boyd Gaming in a research note on Monday, September 8th.

Insiders Place Their Bets

In other Boyd Gaming news, CEO Keith Smith sold 50,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $83.09, for a total value of $4,154,500.00. Following the completion of the transaction, the chief executive officer owned 1,096,689 shares of the company's stock, valued at $91,123,889.01. The trade was a 4.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Marianne Boyd Johnson sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $84.17, for a total transaction of $8,417,000.00. Following the completion of the transaction, the chairman directly owned 1,504,379 shares of the company's stock, valued at approximately $126,623,580.43. This represents a 6.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 385,438 shares of company stock worth $32,638,085. 27.94% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boyd Gaming

Institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Boyd Gaming by 219.8% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company's stock valued at $29,000 after purchasing an additional 255 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Boyd Gaming in the 2nd quarter valued at $39,000. Advisors Asset Management Inc. boosted its stake in shares of Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company's stock valued at $36,000 after purchasing an additional 196 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Boyd Gaming by 139.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 619 shares of the company's stock valued at $48,000 after purchasing an additional 361 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Boyd Gaming by 24.5% in the 2nd quarter. Parallel Advisors LLC now owns 685 shares of the company's stock valued at $54,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company's stock.

Boyd Gaming Stock Performance

Boyd Gaming stock opened at $87.07 on Friday. The firm's 50 day simple moving average is $84.77 and its 200 day simple moving average is $77.00. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. The firm has a market capitalization of $6.98 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 2.45 and a beta of 1.30. Boyd Gaming has a 1-year low of $58.94 and a 1-year high of $88.49.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $1.87 earnings per share for the quarter, topping analysts' consensus estimates of $1.67 by $0.20. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $976.81 million. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. Boyd Gaming's revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 EPS. As a group, analysts expect that Boyd Gaming will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, September 15th. Boyd Gaming's payout ratio is currently 11.08%.

About Boyd Gaming

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.

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