Boyd Gaming (NYSE:BYD) Hits New 12-Month High - Here's What Happened

Boyd Gaming Corporation (NYSE:BYD - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $83.76 and last traded at $83.61, with a volume of 756611 shares. The stock had previously closed at $81.33.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BYD shares. Barclays lowered their target price on Boyd Gaming from $78.00 to $73.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. began coverage on Boyd Gaming in a research note on Monday, June 23rd. They issued a "neutral" rating and a $79.00 target price for the company. Morgan Stanley cut 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. Mizuho decreased their target price on shares of Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, Macquarie restated a "neutral" rating and set a $74.00 price target on shares of Boyd Gaming in a report on Friday, April 25th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $80.38.

Boyd Gaming Stock Up 3.4%

The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 2.57. The company has a market capitalization of $6.84 billion, a PE ratio of 13.72, a PEG ratio of 2.91 and a beta of 1.26. The business has a fifty day moving average of $75.19 and a 200 day moving average of $72.63.

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

Boyd Gaming Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a $0.18 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.72 annualized dividend and a yield of 0.86%. Boyd Gaming's dividend payout ratio is currently 11.75%.

Institutional Investors Weigh In On Boyd Gaming

A number of institutional investors and hedge funds have recently bought and sold shares of BYD. Cohen & Steers Inc. grew its stake in Boyd Gaming by 0.4% during the 4th quarter. Cohen & Steers Inc. now owns 5,265,454 shares of the company's stock worth $381,929,000 after buying an additional 21,616 shares during the last quarter. Boston Partners boosted its stake in Boyd Gaming by 36.9% during the 4th quarter. Boston Partners now owns 3,955,544 shares of the company's stock worth $287,185,000 after purchasing an additional 1,065,887 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Boyd Gaming by 51.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock worth $94,074,000 after purchasing an additional 441,963 shares during the last quarter. Victory Capital Management Inc. grew its position in Boyd Gaming by 13.3% during the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company's stock worth $69,036,000 after purchasing an additional 122,822 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Boyd Gaming by 0.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 983,823 shares of the company's stock valued at $64,765,000 after buying an additional 8,850 shares during the last quarter. 76.81% of the stock is owned by hedge funds and other 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.

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