Boyd Gaming (NYSE:BYD) had its price objective hoisted by equities research analysts at Truist from $46.00 to $60.00 in a research report issued on Thursday, The Fly reports. Truist's price target would indicate a potential upside of 21.09% from the company's previous close.
Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. increased their price objective on Boyd Gaming from $42.00 to $49.00 and gave the stock an "overweight" rating in a report on Tuesday, October 27th. National Bank Financial downgraded shares of Boyd Gaming from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, October 20th. Stifel Nicolaus upped their target price on shares of Boyd Gaming from $28.00 to $48.00 and gave the stock a "buy" rating in a research note on Tuesday, October 27th. Bank of America boosted their price objective on shares of Boyd Gaming from $40.00 to $47.00 and gave the company a "buy" rating in a report on Friday, December 4th. Finally, Argus raised shares of Boyd Gaming from a "hold" rating to a "buy" rating and set a $36.00 price objective for the company in a report on Friday, October 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of "Buy" and a consensus target price of $41.03.
Shares of Boyd Gaming stock traded up $1.47 during midday trading on Thursday, reaching $49.55. 50,665 shares of the company's stock traded hands, compared to its average volume of 1,307,690. The company has a debt-to-equity ratio of 3.79, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market cap of $5.52 billion, a PE ratio of -85.43, a price-to-earnings-growth ratio of 2.16 and a beta of 2.24. The stock has a 50 day moving average of $42.64 and a 200-day moving average of $31.70. Boyd Gaming has a 12 month low of $6.44 and a 12 month high of $49.87.
Boyd Gaming (NYSE:BYD) last announced its earnings results on Saturday, October 31st. The company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.18. The company had revenue of $652.20 million during the quarter, compared to the consensus estimate of $599.68 million. Boyd Gaming had a negative return on equity of 1.09% and a negative net margin of 2.71%. The firm's revenue for the quarter was down 20.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 earnings per share. On average, equities analysts anticipate that Boyd Gaming will post -0.2 earnings per share for the current fiscal year.
In other Boyd Gaming news, Director Robert L. Boughner sold 16,447 shares of the stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $31.43, for a total transaction of $516,929.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William R. Boyd sold 53,110 shares of the stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $31.52, for a total transaction of $1,674,027.20. Following the transaction, the vice president now owns 27,792 shares of the company's stock, valued at approximately $876,003.84. The disclosure for this sale can be found here. Insiders have sold 239,226 shares of company stock valued at $8,750,731 in the last quarter. 29.08% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BYD. FMR LLC grew its stake in shares of Boyd Gaming by 8.3% during the second quarter. FMR LLC now owns 9,628,151 shares of the company's stock valued at $201,229,000 after buying an additional 738,279 shares during the last quarter. Baird Financial Group Inc. grew its stake in Boyd Gaming by 10.6% in the second quarter. Baird Financial Group Inc. now owns 17,713 shares of the company's stock worth $530,000 after purchasing an additional 1,695 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in Boyd Gaming by 42.4% in the second quarter. Advisor Group Holdings Inc. now owns 22,579 shares of the company's stock worth $472,000 after purchasing an additional 6,725 shares in the last quarter. Stifel Financial Corp lifted its holdings in Boyd Gaming by 68.9% during the second quarter. Stifel Financial Corp now owns 46,048 shares of the company's stock worth $962,000 after buying an additional 18,788 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in Boyd Gaming by 646.1% during the second quarter. Canada Pension Plan Investment Board now owns 64,492 shares of the company's stock worth $1,348,000 after buying an additional 55,848 shares during the period. 69.14% 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. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of October 26, 2020, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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