Boyd Gaming Corporation (NYSE:BYD) Stock Has Consensus Price Target of $93.86 According to Brokerages

Key Points

• Analyst consensus is “Hold” for Boyd Gaming, with 11 hold, four buy, and one strong-buy recommendation. The average 12-month price target is $93.86, above the stock’s stated $69.37 opening price.
• Boyd Gaming reported quarterly EPS of $1.93, beating the $1.89 consensus estimate, while revenue of $1.03 billion fell slightly short of expectations. Analysts forecast full-year EPS of $7.16.
• The company declared a quarterly dividend of $0.20, equivalent to $0.80 annually and a 1.2% yield. Institutional investors own 76.81% of the stock, while insiders hold 22.82%.

Boyd Gaming Corporation (NYSE:BYD - Get Free Report) has been given an average recommendation of "Hold" by the sixteen analysts that are currently covering the firm, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $93.86.

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their price target on Boyd Gaming from $81.00 to $88.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 14th. Stifel Nicolaus boosted their target price on shares of Boyd Gaming from $91.00 to $92.00 and gave the company a "hold" rating in a research report on Friday, July 24th. Barclays cut their target price on shares of Boyd Gaming from $87.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Friday. Morgan Stanley reduced their price target on shares of Boyd Gaming from $90.00 to $89.00 and set an "equal weight" rating for the company in a report on Monday, July 27th. Finally, Weiss Ratings downgraded shares of Boyd Gaming from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, September 29th.

Boyd Gaming Stock Up 0.6%

Shares of Boyd Gaming stock opened at $69.37 on Tuesday. Boyd Gaming has a one year low of $65.00 and a one year high of $91.41. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.77 and a quick ratio of 0.74. The stock's 50-day moving average is $76.48 and its 200 day moving average is $82.34. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 3.05, a PEG ratio of 1.22 and a beta of 1.12.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.04. Boyd Gaming had a return on equity of 22.52% and a net margin of 44.34%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the company posted $1.87 earnings per share. The firm's revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts anticipate that Boyd Gaming will post 7.16 EPS for the current year.

Boyd Gaming Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Boyd Gaming's dividend payout ratio (DPR) is 3.52%.

Insider Buying and Selling

In other news, CFO Josh Hirsberg sold 12,777 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total transaction of $1,146,863.52. Following the completion of the sale, the chief financial officer owned 422,969 shares in the company, valued at $37,965,697.44. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 22.82% of the company's stock.

Institutional Trading of Boyd Gaming

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Boyd Gaming in the 2nd quarter worth about $486,737,000. Bank of America Corp DE bought a new position in Boyd Gaming in the 2nd quarter valued at about $70,043,000. Bamco Inc. NY acquired a new position in Boyd Gaming during the 2nd quarter valued at about $41,184,000. Bank of New York Mellon Corp acquired a new position in Boyd Gaming during the 2nd quarter valued at about $40,281,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Boyd Gaming by 18.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,755,659 shares of the company's stock valued at $149,652,000 after purchasing an additional 277,529 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

About Boyd Gaming

Boyd Gaming Corporation is a diversified gaming and entertainment company headquartered in Las Vegas, Nevada. The company owns and operates casinos, hotels, restaurants and entertainment venues, primarily serving regional and destination markets in the United States. Its properties offer casino gaming, including slot machines, table games and poker, along with hotel accommodations, dining, entertainment and other hospitality services.

Boyd Gaming operates properties under brands that include Sam's Town, The Orleans, Gold Coast, Suncoast, Fremont and California Hotel and Casino in Nevada, as well as additional casinos in states such as Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Ohio and Pennsylvania.

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