Boyd Gaming (NYSE:BYD) Earns Neutral Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Boyd Gaming (NYSE:BYD - Get Free Report) in a report issued on Monday,Benzinga reports. The firm set a "neutral" rating and a $79.00 price target on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 3.35% from the company's current price.

Several other research analysts have also recently issued reports on the company. Stifel Nicolaus upped their price objective on Boyd Gaming from $71.00 to $76.00 and gave the stock a "hold" rating in a research report on Thursday, June 5th. Barclays dropped their price target on shares of Boyd Gaming from $78.00 to $73.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley reduced 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 research report on Wednesday, April 16th. Truist Financial dropped their target price 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. Finally, Macquarie reaffirmed a "neutral" rating and set a $74.00 price objective on shares of Boyd Gaming in a research note on Friday, April 25th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.00.

Boyd Gaming Stock Up 0.5%

Shares of NYSE BYD opened at $76.44 on Monday. The stock has a market cap of $6.22 billion, a P/E ratio of 12.47, a PEG ratio of 0.97 and a beta of 1.26. The business's fifty day simple moving average is $71.95 and its 200-day simple moving average is $72.13. Boyd Gaming has a 12-month low of $52.76 and a 12-month high of $80.50. 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 results on Thursday, April 24th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $976.38 million. During the same quarter last year, the company earned $1.51 EPS. Boyd Gaming's revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities analysts predict that Boyd Gaming will post 6.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Boyd Gaming

A number of hedge funds and other institutional investors have recently modified their holdings of BYD. Raymond James Financial Inc. acquired a new stake in Boyd Gaming during the fourth quarter worth approximately $43,273,000. Ameriprise Financial Inc. lifted its stake in shares of Boyd Gaming by 19.1% during the 4th quarter. Ameriprise Financial Inc. now owns 193,768 shares of the company's stock worth $14,057,000 after purchasing an additional 31,130 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Boyd Gaming during the first quarter worth $1,963,000. Truist Financial Corp grew its position in shares of Boyd Gaming by 20.7% in the fourth quarter. Truist Financial Corp now owns 4,458 shares of the company's stock valued at $323,000 after purchasing an additional 765 shares during the period. Finally, GC Wealth Management RIA LLC acquired a new position in Boyd Gaming in the fourth quarter valued at $307,000. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

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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