Boyd Gaming Corp. (NYSE:BYD)‘s stock had its “buy” rating reissued by equities researchers at Gabelli in a note issued to investors on Monday. They presently have a $28.00 price target on the stock. Gabelli’s price objective indicates a potential upside of 47.06% from the stock’s previous close.
Several other equities analysts have also recently issued reports on BYD. Deutsche Bank AG reissued a “buy” rating on shares of Boyd Gaming Corp. in a research note on Sunday, June 26th. Zacks Investment Research raised Boyd Gaming Corp. from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Tuesday, October 4th. Finally, Telsey Advisory Group reduced their target price on Boyd Gaming Corp. from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, August 4th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Boyd Gaming Corp. has an average rating of “Buy” and an average price target of $22.92.
Shares of Boyd Gaming Corp. (NYSE:BYD) opened at 19.04 on Monday. Boyd Gaming Corp. has a 12 month low of $14.22 and a 12 month high of $21.43. The company has a market cap of $2.14 billion, a P/E ratio of 26.56 and a beta of 1.86. The company’s 50 day moving average is $19.28 and its 200-day moving average is $19.31.
Boyd Gaming Corp. (NYSE:BYD) last posted its earnings results on Wednesday, August 3rd. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.14. Boyd Gaming Corp. had a net margin of 3.74% and a return on equity of 18.90%. The business had revenue of $544.90 million for the quarter, compared to analysts’ expectations of $561.27 million. During the same period last year, the firm posted $0.24 earnings per share. Boyd Gaming Corp.’s quarterly revenue was down 2.7% on a year-over-year basis. Analysts expect that Boyd Gaming Corp. will post $0.80 EPS for the current fiscal year.
In other Boyd Gaming Corp. news, VP William R. Boyd sold 20,500 shares of the company’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $19.78, for a total transaction of $405,490.00. Following the transaction, the vice president now directly owns 18,027 shares in the company, valued at $356,574.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marianne Boyd Johnson sold 89,360 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $19.83, for a total value of $1,772,008.80. Following the transaction, the executive vice president now owns 276,589 shares in the company, valued at $5,484,759.87. The disclosure for this sale can be found here. 29.67% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BYD. Vanguard Group Inc. boosted its position in Boyd Gaming Corp. by 8.4% in the second quarter. Vanguard Group Inc. now owns 9,036,842 shares of the company’s stock worth $166,278,000 after buying an additional 696,920 shares during the period. First Republic Investment Management Inc. purchased a new position in Boyd Gaming Corp. during the first quarter worth approximately $109,697,000. BlackRock Fund Advisors boosted its position in Boyd Gaming Corp. by 3.8% in the second quarter. BlackRock Fund Advisors now owns 5,148,421 shares of the company’s stock worth $94,731,000 after buying an additional 189,740 shares during the period. Highline Capital Management L.P. boosted its position in Boyd Gaming Corp. by 4.9% in the second quarter. Highline Capital Management L.P. now owns 3,830,600 shares of the company’s stock worth $70,483,000 after buying an additional 180,600 shares during the period. Finally, Glenmede Trust Co. NA boosted its position in Boyd Gaming Corp. by 5.5% in the second quarter. Glenmede Trust Co. NA now owns 1,986,770 shares of the company’s stock worth $36,555,000 after buying an additional 102,838 shares during the period. Institutional investors own 73.63% of the company’s stock.
About Boyd Gaming Corp.
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operates through five segments: Las Vegas Locals; Downtown Las Vegas; Midwest and South; Peninsula, and Borgata. The Las Vegas Locals Properties segment consists of Gold Coast Hotel and Casino, The Orleans Hotel and Casino, Sam’s Town Hotel and Gambling Hall, Suncoast Hotel and Casino, and Eldorado Casino and Jokers Wild Casino.
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