Boyd Gaming (NYSE:BYD) Shares Down 5.9% - Time to Sell?

Boyd Gaming Corporation (NYSE:BYD - Get Free Report)'s share price dropped 5.9% during trading on Friday . The company traded as low as $79.81 and last traded at $80.30. Approximately 497,089 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 926,341 shares. The stock had previously closed at $85.37.

Analyst Ratings Changes

BYD has been the subject of a number of research analyst reports. Barclays reduced their target price on Boyd Gaming from $78.00 to $73.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley lifted their target price on shares of Boyd Gaming from $76.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Friday. Mizuho cut their target price on shares of Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. assumed coverage on shares of Boyd Gaming in a research report on Monday, June 23rd. They issued a "neutral" rating and a $79.00 target price for the company. Finally, Stifel Nicolaus lifted their target price on shares of Boyd Gaming from $76.00 to $87.00 and gave the stock a "hold" rating in a research report on Friday. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Boyd Gaming has a consensus rating of "Moderate Buy" and an average target price of $82.62.

Boyd Gaming Stock Performance

The business's 50-day moving average price is $75.98 and its 200-day moving average price is $72.86. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.76 and a current ratio of 0.80. The stock has a market cap of $6.49 billion, a P/E ratio of 13.01, a P/E/G ratio of 3.07 and a beta of 1.26.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data 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 net margin of 13.96% and a return on equity of 38.34%. The firm had revenue of $991.57 million during the quarter, compared to the consensus estimate of $976.38 million. During the same quarter in the previous year, the firm posted $1.51 EPS. The company's revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, sell-side analysts expect that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The firm 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 dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Monday, June 16th. Boyd Gaming's payout ratio is 11.75%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BYD. Advisors Asset Management Inc. lifted its position in shares of Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company's stock valued at $36,000 after acquiring an additional 196 shares in the last quarter. CoreCap Advisors LLC grew its position in shares of Boyd Gaming by 91.0% during the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock worth $42,000 after purchasing an additional 273 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Boyd Gaming by 68.0% during the first quarter. GAMMA Investing LLC now owns 773 shares of the company's stock worth $51,000 after purchasing an additional 313 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Boyd Gaming by 24.5% during the second quarter. Parallel Advisors LLC now owns 685 shares of the company's stock worth $54,000 after purchasing an additional 135 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Boyd Gaming by 156.0% during the first quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock worth $66,000 after purchasing an additional 613 shares in the last quarter. Institutional investors own 76.81% of the company's stock.

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.