Boyd Gaming (NYSE:BYD) Price Target Raised to $100.00 at Truist Financial

Boyd Gaming (NYSE:BYD - Free Report) had its price target hoisted by Truist Financial from $85.00 to $100.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on the company. Morgan Stanley restated a "sell" rating on shares of Boyd Gaming in a research report on Friday, July 11th. Stifel Nicolaus upped their price target on Boyd Gaming from $76.00 to $87.00 and gave the company a "hold" rating in a research report on Friday, July 11th. Susquehanna downgraded shares of Boyd Gaming from a "positive" rating to a "neutral" rating and boosted their target price for the company from $76.00 to $86.00 in a research note on Friday, July 11th. JPMorgan Chase & Co. started coverage on shares of Boyd Gaming in a research note on Monday, June 23rd. They issued a "neutral" rating and a $79.00 target price on the stock. Finally, Macquarie reiterated a "neutral" rating and set a $74.00 target price on shares of Boyd Gaming in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $84.85.

Boyd Gaming Stock Performance

Shares of NYSE BYD traded down $0.25 during mid-day trading on Wednesday, hitting $82.19. The company had a trading volume of 322,369 shares, compared to its average volume of 944,219. Boyd Gaming has a 12 month low of $52.76 and a 12 month high of $87.76. The firm has a market cap of $6.69 billion, a P/E ratio of 13.39, a PEG ratio of 2.91 and a beta of 1.26. The business's 50-day simple moving average is $76.91 and its 200-day simple moving average is $73.14. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.80 and a quick ratio of 0.76.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.10. The firm had revenue of $991.57 million for the quarter, compared to analyst estimates of $976.38 million. Boyd Gaming had a net margin of 13.96% and a return on equity of 38.34%. The business's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.51 EPS. As a group, analysts predict that Boyd Gaming will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Monday, June 16th. Boyd Gaming's dividend payout ratio is currently 11.75%.

Hedge Funds Weigh In On Boyd Gaming

A number of institutional investors have recently modified their holdings of the stock. Ruffer LLP acquired a new stake in shares of Boyd Gaming in the second quarter valued at approximately $6,471,000. Counterpoint Mutual Funds LLC bought a new position in Boyd Gaming in the 2nd quarter valued at $402,000. GAMMA Investing LLC boosted its position in Boyd Gaming by 24.2% in the 2nd quarter. GAMMA Investing LLC now owns 960 shares of the company's stock valued at $75,000 after buying an additional 187 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Boyd Gaming by 294.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,066 shares of the company's stock valued at $240,000 after buying an additional 2,289 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in shares of Boyd Gaming by 4.5% during the second quarter. Exchange Traded Concepts LLC now owns 15,202 shares of the company's stock worth $1,189,000 after acquiring an additional 650 shares during the last quarter. 76.81% of the stock is owned by institutional investors.

About Boyd Gaming

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.