Boyd Gaming Corporation (NYSE:BYD) Receives $80.00 Consensus Target Price from Brokerages

Boyd Gaming Corporation (NYSE:BYD - Get Free Report) has received an average rating of "Moderate Buy" from the thirteen research firms that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $80.00.

A number of research firms have recently weighed in on BYD. Susquehanna boosted their price objective on shares of Boyd Gaming from $75.00 to $76.00 and gave the company a "positive" rating in a research report on Friday, April 25th. Morgan Stanley reduced their price target on Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Macquarie reaffirmed a "neutral" rating and issued a $74.00 price objective on shares of Boyd Gaming in a research report on Friday, April 25th. Stifel Nicolaus increased their target price on Boyd Gaming from $71.00 to $76.00 and gave the stock a "hold" rating in a research report on Thursday, June 5th. Finally, Truist Financial lowered their price target on Boyd Gaming from $92.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, April 1st.

Boyd Gaming Price Performance

Shares of NYSE BYD traded up $1.22 on Wednesday, hitting $78.99. The company's stock had a trading volume of 1,858,623 shares, compared to its average volume of 910,061. The stock has a 50 day moving average of $73.27 and a 200-day moving average of $72.25. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 1.01 and a beta of 1.26. Boyd Gaming has a 12-month low of $52.76 and a 12-month high of $80.50. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.80 and a quick ratio of 0.76.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.10. Boyd Gaming had a return on equity of 38.34% and a net margin of 13.96%. The company had revenue of $991.57 million during the quarter, compared to the consensus estimate of $976.38 million. During the same quarter last year, the business posted $1.51 earnings per share. Boyd Gaming's revenue was up 3.2% compared to the same quarter last year. As a group, research analysts predict that Boyd Gaming will post 6.52 EPS for the current year.

Boyd Gaming Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, June 16th. Boyd Gaming's payout ratio is currently 11.75%.

Institutional Trading of Boyd Gaming

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its stake in 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 purchasing an additional 196 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Boyd Gaming by 1.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the company's stock valued at $1,224,000 after buying an additional 200 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Boyd Gaming by 0.4% during 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 during the period. Pinnacle Wealth Management Advisory Group LLC lifted its holdings 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 during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings 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 during the last quarter. 76.81% of the stock is owned by institutional investors.

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.