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

Boyd Gaming Corporation (NYSE:BYD - Get Free Report) has been given an average recommendation of "Moderate Buy" by the thirteen brokerages that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $80.00.

A number of research analysts recently weighed in on BYD shares. Truist Financial lowered their price objective on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Stifel Nicolaus increased their price objective on shares of Boyd Gaming from $71.00 to $76.00 and gave the company a "hold" rating in a research report on Thursday, June 5th. Morgan Stanley lowered their price objective on shares of Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Susquehanna increased 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. Finally, Wall Street Zen downgraded shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. grew its position in Boyd Gaming by 56.8% during the 1st 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 lifted its stake in 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 acquiring an additional 200 shares during the period. State of Alaska Department of Revenue lifted its stake in Boyd Gaming by 0.4% during the 1st quarter. State of Alaska Department of Revenue now owns 47,753 shares of the company's stock valued at $3,143,000 after acquiring an additional 205 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its stake in Boyd Gaming by 7.1% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,000 shares of the company's stock valued at $263,000 after acquiring an additional 265 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Boyd Gaming by 28.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the company's stock valued at $80,000 after purchasing an additional 265 shares during the period. Hedge funds and other institutional investors own 76.81% of the company's stock.

Boyd Gaming Price Performance

BYD stock opened at $78.02 on Wednesday. The firm's 50-day moving average price is $72.45 and its two-hundred day moving average price is $72.18. Boyd Gaming has a 12-month low of $52.76 and a 12-month high of $80.50. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 0.98 and a beta of 1.26. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 2.57.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, beating 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 business had revenue of $991.57 million for the quarter, compared to analysts' expectations of $976.38 million. During the same period in the previous year, the firm posted $1.51 EPS. The business's revenue was up 3.2% on a year-over-year basis. As a group, equities analysts predict that Boyd Gaming will post 6.52 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Monday, June 16th. Boyd Gaming's payout ratio is currently 11.75%.

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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