Boyd Gaming (NYSE:BYD) PT Lowered to $71.00

Boyd Gaming (NYSE:BYD - Free Report) had its price target cut by Wells Fargo & Company from $82.00 to $71.00 in a research note released on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also commented on the stock. Susquehanna reaffirmed a neutral rating and set a $75.00 price objective (down from $84.00) on shares of Boyd Gaming in a research note on Monday, February 12th. Morgan Stanley lifted their price objective on shares of Boyd Gaming from $71.00 to $72.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lowered shares of Boyd Gaming from a buy rating to a hold rating and lowered their target price for the company from $78.00 to $71.00 in a research note on Friday. Mizuho lowered their target price on shares of Boyd Gaming from $80.00 to $78.00 and set a buy rating for the company in a research note on Friday. Finally, Barclays lowered their target price on shares of Boyd Gaming from $70.00 to $68.00 and set an equal weight rating for the company in a research note on Friday. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $72.20.

Boyd Gaming Trading Down 15.4 %

NYSE BYD traded down $9.71 on Friday, hitting $53.18. 6,822,882 shares of the stock were exchanged, compared to its average volume of 812,057. 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 stock has a fifty day moving average price of $63.98 and a two-hundred day moving average price of $62.01. The firm has a market capitalization of $5.09 billion, a P/E ratio of 8.72, a P/E/G ratio of 2.98 and a beta of 1.60. Boyd Gaming has a 52-week low of $52.42 and a 52-week high of $73.00.

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

Boyd Gaming Increases Dividend

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

Insider Buying and Selling

In related news, major shareholder William S. Boyd sold 125,000 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total value of $7,971,250.00. Following the completion of the sale, the insider now directly owns 9,358,913 shares of the company's stock, valued at $596,817,882.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Boyd Gaming news, major shareholder William S. Boyd sold 125,000 shares of the business's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total value of $7,971,250.00. Following the completion of the transaction, the insider now directly owns 9,358,913 shares in the company, valued at $596,817,882.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William R. Boyd sold 50,000 shares of the business's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the completion of the transaction, the vice president now owns 1,617,970 shares of the company's stock, valued at $103,614,798.80. The disclosure for this sale can be found here. Insiders sold a total of 582,910 shares of company stock valued at $37,299,461 over the last three months. 27.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boyd Gaming

Large investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its holdings in Boyd Gaming by 105.5% in 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 in the last quarter. Rakuten Securities Inc. acquired a new position in shares of Boyd Gaming during the fourth quarter valued at about $30,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Boyd Gaming by 57.4% during 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 in the last quarter. Principal Securities Inc. acquired a new position in shares of Boyd Gaming during the fourth quarter valued at about $50,000. Finally, Allworth Financial LP increased its holdings in shares of Boyd Gaming by 3,333.3% during the fourth quarter. Allworth Financial LP now owns 1,030 shares of the company's stock valued at $64,000 after acquiring an additional 1,000 shares in 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.