Boyd Gaming (NYSE:BYD) Price Target Cut to $73.00 by Analysts at Barclays

Boyd Gaming (NYSE:BYD) had its price objective cut by Barclays from $78.00 to $73.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts also recently commented on the stock. StockNews.com downgraded shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. Morgan Stanley cut their price target on shares of Boyd Gaming from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and boosted their price objective for the company from $73.00 to $92.00 in a research note on Friday, January 3rd. Susquehanna cut their target price on Boyd Gaming from $77.00 to $75.00 and set a “positive” rating on the stock in a research report on Wednesday, April 16th. Finally, Truist Financial lowered their price target on Boyd Gaming from $92.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Boyd Gaming currently has an average rating of “Moderate Buy” and a consensus price target of $93.73.

Boyd Gaming Stock Down 0.6 %

Shares of NYSE BYD opened at $66.06 on Tuesday. The firm has a market cap of $5.45 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 4.46 and a beta of 1.31. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. Boyd Gaming has a 1 year low of $49.34 and a 1 year high of $80.50. The firm’s 50 day moving average price is $68.58 and its 200 day moving average price is $71.05.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.07. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. As a group, sell-side analysts anticipate that Boyd Gaming will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.09%. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.17. Boyd Gaming’s dividend payout ratio (DPR) is currently 11.58%.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Director William R. Boyd sold 15,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total value of $1,189,800.00. Following the completion of the transaction, the director now directly owns 1,472,970 shares of the company’s stock, valued at $116,835,980.40. This represents a 1.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christine J. Spadafor sold 1,125 shares of Boyd Gaming stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $75.28, for a total value of $84,690.00. Following the sale, the director now directly owns 4,852 shares in the company, valued at approximately $365,258.56. The trade was a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,125 shares of company stock valued at $5,158,490. Corporate insiders own 27.94% of the company’s stock.

Hedge Funds Weigh In On Boyd Gaming

Institutional investors and hedge funds have recently made changes to their positions in the business. Boston Partners raised its holdings in Boyd Gaming by 36.9% in the fourth quarter. Boston Partners now owns 3,955,544 shares of the company’s stock valued at $287,185,000 after acquiring an additional 1,065,887 shares in the last quarter. Norges Bank acquired a new stake in shares of Boyd Gaming in the 4th quarter valued at about $55,553,000. Raymond James Financial Inc. bought a new position in shares of Boyd Gaming during the fourth quarter worth about $43,273,000. Arrowstreet Capital Limited Partnership grew its stake in Boyd Gaming by 51.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company’s stock worth $94,074,000 after purchasing an additional 441,963 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Boyd Gaming by 37.2% in the fourth quarter. Franklin Resources Inc. now owns 964,051 shares of the company’s stock valued at $69,932,000 after buying an additional 261,443 shares during the last quarter. 76.81% of the stock is currently owned by hedge funds and other 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.