Boyd Gaming Co. (NYSE:BYD) Receives $76.20 Consensus Price Target from Analysts

Shares of Boyd Gaming Co. (NYSE:BYD - Get Free Report) have been given a consensus rating of "Moderate Buy" by the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $76.20.

Several analysts have recently weighed in on BYD shares. JPMorgan Chase & Co. lifted their target price on Boyd Gaming from $78.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 9th. Mizuho started coverage on Boyd Gaming in a research note on Tuesday, March 26th. They set a "buy" rating and a $80.00 price target on the stock. Morgan Stanley raised their price target on Boyd Gaming from $70.00 to $71.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 28th. Stifel Nicolaus restated a "hold" rating and set a $69.00 price target on shares of Boyd Gaming in a research note on Friday, January 5th. Finally, Barclays raised their price target on Boyd Gaming from $66.00 to $67.00 and gave the company an "equal weight" rating in a research note on Friday, January 26th.

Boyd Gaming Trading Up 0.5 %

Shares of NYSE:BYD traded up $0.35 on Monday, hitting $67.67. 777,073 shares of the company's stock were exchanged, compared to its average volume of 741,642. Boyd Gaming has a 12 month low of $52.42 and a 12 month high of $73.00. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 3.11 and a beta of 1.60. The business's 50 day simple moving average is $64.14 and its two-hundred day simple moving average is $61.60. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89 and a quick ratio of 0.85.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its earnings results on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.23. Boyd Gaming had a return on equity of 36.97% and a net margin of 16.58%. The business had revenue of $954.41 million during the quarter, compared to the consensus estimate of $928.04 million. During the same period last year, the company earned $1.72 earnings per share. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts anticipate that Boyd Gaming will post 6.19 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, March 14th. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.16. Boyd Gaming's payout ratio is 11.15%.

Insider Buying and Selling at Boyd Gaming

In other news, Chairman Marianne Boyd Johnson sold 77,661 shares of the business's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.87, for a total transaction of $5,037,869.07. Following the sale, the chairman now owns 1,511,433 shares in the company, valued at $98,046,658.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Ted Bogich sold 41,631 shares of the business's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.79, for a total transaction of $2,697,272.49. Following the sale, the chief operating officer now owns 66,803 shares in the company, valued at $4,328,166.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 77,661 shares of the business's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.87, for a total value of $5,037,869.07. Following the sale, the chairman now owns 1,511,433 shares in the company, valued at approximately $98,046,658.71. The disclosure for this sale can be found here. Insiders have sold 582,910 shares of company stock worth $37,299,461 over the last quarter. Insiders own 28.40% of the company's stock.

Institutional Investors Weigh In On Boyd Gaming

Large investors have recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Boyd Gaming by 885.4% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,657,441 shares of the company's stock worth $100,822,000 after purchasing an additional 1,489,240 shares during the period. Cohen & Steers Inc. raised its stake in shares of Boyd Gaming by 34.4% during the 4th quarter. Cohen & Steers Inc. now owns 4,747,662 shares of the company's stock worth $297,270,000 after buying an additional 1,216,121 shares during the period. Ariel Investments LLC raised its stake in shares of Boyd Gaming by 63.4% during the 1st quarter. Ariel Investments LLC now owns 2,629,438 shares of the company's stock worth $172,965,000 after buying an additional 1,020,515 shares during the period. Millennium Management LLC raised its stake in shares of Boyd Gaming by 98.1% during the 4th quarter. Millennium Management LLC now owns 1,711,767 shares of the company's stock worth $93,343,000 after buying an additional 847,797 shares during the period. Finally, Norges Bank acquired a new position in shares of Boyd Gaming during the 4th quarter worth approximately $41,625,000. Hedge funds and other institutional investors own 76.81% of the company's stock.

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.