Boyd Gaming (NYSE:BYD) Price Target Lowered to $96.00 at Mizuho

Key Points

• Mizuho lowered its price target on Boyd Gaming from $99 to $96 but kept an "outperform" rating, while the street consensus remains a "Hold" with an average target of $92.08.
• Boyd missed Q1 expectations, reporting EPS of $1.60 versus $1.76 expected and revenue of $997.4M versus ~$1.04B, which pressured the stock to about $83.60 intraday.
• The company’s board authorized a $500 million share repurchase (roughly 7.7% of shares outstanding), signaling management believes the shares are undervalued.

Boyd Gaming (NYSE:BYD - Get Free Report) had its price target decreased by equities researchers at Mizuho from $99.00 to $96.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's price target points to a potential upside of 14.83% from the company's current price.

A number of other analysts have also recently weighed in on BYD. Susquehanna dropped their price target on Boyd Gaming from $89.00 to $87.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 7th. Wells Fargo & Company reduced their price objective on Boyd Gaming from $84.00 to $83.00 and set an "equal weight" rating for the company in a research report on Thursday, April 16th. Stifel Nicolaus lowered their price objective on Boyd Gaming from $95.00 to $91.00 and set a "hold" rating for the company in a research note on Friday. JPMorgan Chase & Co. raised their target price on Boyd Gaming from $89.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Citigroup boosted their price target on shares of Boyd Gaming from $86.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, Boyd Gaming presently has a consensus rating of "Hold" and an average price target of $92.08.

Boyd Gaming Stock Performance

Shares of NYSE BYD traded down $5.55 during midday trading on Friday, hitting $83.60. The company's stock had a trading volume of 1,700,706 shares, compared to its average volume of 909,863. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.52 and a current ratio of 0.54. Boyd Gaming has a 1-year low of $67.67 and a 1-year high of $89.96. The firm's fifty day moving average price is $83.79 and its 200-day moving average price is $83.49. The firm has a market cap of $6.30 billion, a P/E ratio of 3.67, a P/E/G ratio of 1.80 and a beta of 1.19.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $1.60 earnings per share for the quarter, missing analysts' consensus estimates of $1.76 by ($0.16). Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The business had revenue of $997.36 million for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the company earned $1.62 EPS. Boyd Gaming's quarterly revenue was up .6% on a year-over-year basis. On average, sell-side analysts forecast that Boyd Gaming will post 7.56 EPS for the current fiscal year.

Boyd Gaming announced that its board has authorized a stock repurchase program on Thursday, April 23rd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 7.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Boyd Gaming

In other news, insider Stephen S. Thompson sold 19,530 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $83.59, for a total value of $1,632,512.70. Following the completion of the transaction, the insider directly owned 22,009 shares in the company, valued at $1,839,732.31. This trade represents a 47.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Josh Hirsberg sold 23,924 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $85.86, for a total value of $2,054,114.64. Following the sale, the chief financial officer directly owned 435,746 shares in the company, valued at approximately $37,413,151.56. The trade was a 5.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 73,454 shares of company stock worth $6,231,827 in the last 90 days. Corporate insiders own 22.82% of the company's stock.

Institutional Trading of Boyd Gaming

Several institutional investors have recently modified their holdings of BYD. Advisors Asset Management Inc. grew its holdings 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 acquiring an additional 196 shares during the period. AQR Capital Management LLC boosted its position in shares of Boyd Gaming by 13.9% during the 1st quarter. AQR Capital Management LLC now owns 9,623 shares of the company's stock valued at $628,000 after purchasing an additional 1,172 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Boyd Gaming in the 1st quarter worth approximately $207,000. M&T Bank Corp acquired a new position in shares of Boyd Gaming in the 2nd quarter worth approximately $229,000. Finally, Amundi raised its holdings in shares of Boyd Gaming by 14,719.0% in the 2nd quarter. Amundi now owns 3,112 shares of the company's stock worth $253,000 after purchasing an additional 3,091 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

Key Headlines Impacting Boyd Gaming

Here are the key news stories impacting Boyd Gaming this week:

• Positive Sentiment: Board authorizes $500 million share repurchase (up to ~7.7% of shares outstanding), signaling management believes shares are undervalued and supporting future EPS. RTT News
• Positive Sentiment: Company highlights diversified operations and operating-efficiency focus in the earnings release, which management says helped results despite pressures in some local markets. Press Release
• Neutral Sentiment: Boyd outlined a sizeable 2026 capital-expenditure plan ($650M–$700M) while reiterating online EBITDAR guidance of $30M–$35M — indicates continued investment in growth/maintenance but also higher near-term cash needs. Seeking Alpha
• Negative Sentiment: Q1 results missed Wall Street: EPS $1.60 vs. consensus ~$1.76 and revenue $997.4M vs. ~$1.04B — weaker-than-expected Las Vegas locals and other mix issues drove the shortfall and pressured the stock. Benzinga
• Negative Sentiment: Immediate market reaction was negative — shares moved lower in pre-market and intraday trading following the miss and guidance/cost commentary. (This drop reflects investor concern over near-term momentum despite the buyback.) Benzinga market coverage
• Negative Sentiment: Stifel lowered its price target from $95 to $91 and placed a "hold" — a more cautious tone from an analyst adds pressure on sentiment and limits near-term upside expectations. The Fly

Boyd Gaming Company Profile

Boyd Gaming Corporation NYSE: BYD is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming's offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.

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