Boyd Gaming (NYSE:BYD) Downgraded to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft downgraded shares of Boyd Gaming (NYSE:BYD - Free Report) from a buy rating to a hold rating in a report published on Friday, Marketbeat.com reports. The brokerage currently has $71.00 price objective on the stock, down from their prior price objective of $78.00.

Other equities analysts also recently issued research reports about the company. Truist Financial increased their price objective on Boyd Gaming from $76.00 to $80.00 and gave the stock a buy rating in a report on Friday, February 9th. Susquehanna reiterated a neutral rating and set a $75.00 price target (down previously from $84.00) on shares of Boyd Gaming in a report on Monday, February 12th. Barclays increased their price target on Boyd Gaming from $66.00 to $67.00 and gave the company an equal weight rating in a report on Friday, January 26th. JPMorgan Chase & Co. downgraded Boyd Gaming from an overweight rating to a neutral rating and lowered their price target for the company from $80.00 to $67.00 in a report on Friday. Finally, Stifel Nicolaus reiterated a hold rating and set a $69.00 price target on shares of Boyd Gaming in a report on Friday, January 5th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Boyd Gaming has a consensus rating of Hold and an average target price of $72.20.

Boyd Gaming Stock Down 15.4 %

Shares of NYSE BYD traded down $9.71 during mid-day trading on Friday, reaching $53.18. The company had a trading volume of 6,822,882 shares, compared to its average volume of 812,057. The stock has a fifty day moving average of $63.98 and a two-hundred day moving average of $62.01. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 2.98 and a beta of 1.60. Boyd Gaming has a 12-month low of $52.42 and a 12-month high of $73.00.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. Boyd Gaming had a return on equity of 36.97% and a net margin of 16.58%. The firm had revenue of $954.41 million for the quarter, compared to the consensus estimate of $928.04 million. During the same quarter in the prior year, the company posted $1.72 earnings per share. The firm's revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts expect that Boyd Gaming will post 6.19 EPS for the current year.

Boyd Gaming Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a $0.17 dividend. This is an increase from Boyd Gaming's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. Boyd Gaming's dividend payout ratio (DPR) is presently 11.15%.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, Director A. Randall Thoman sold 2,500 shares of Boyd Gaming stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total transaction of $159,375.00. Following the sale, the director now owns 4,017 shares in the company, valued at $256,083.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Boyd Gaming news, Director A. Randall Thoman sold 2,500 shares of Boyd Gaming stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total transaction of $159,375.00. Following the sale, the director now owns 4,017 shares in the company, valued at $256,083.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Josh Hirsberg sold 22,654 shares of Boyd Gaming stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $64.75, for a total transaction of $1,466,846.50. Following the sale, the chief financial officer now owns 415,184 shares in the company, valued at approximately $26,883,164. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 582,910 shares of company stock worth $37,299,461. Insiders own 27.94% of the company's stock.

Institutional Trading of Boyd Gaming

A number of large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its position in Boyd Gaming by 57.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company's stock valued at $35,000 after acquiring an additional 189 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of Boyd Gaming by 105.5% during the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company's stock worth $25,000 after purchasing an additional 211 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in shares of Boyd Gaming by 3.7% during the third quarter. Great Lakes Advisors LLC now owns 5,971 shares of the company's stock worth $363,000 after purchasing an additional 213 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Boyd Gaming by 0.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 31,457 shares of the company's stock worth $2,118,000 after purchasing an additional 264 shares during the last quarter. Finally, Lmcg Investments LLC grew its holdings in shares of Boyd Gaming by 2.2% during the third quarter. Lmcg Investments LLC now owns 12,257 shares of the company's stock worth $746,000 after purchasing an additional 269 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors.

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.