Boyd Gaming Corp. (NYSE:BYD) has been given an average rating of “Buy” by the fourteen ratings firms that are currently covering the firm. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $21.78.
Several research analysts have recently commented on the company. Deutsche Bank AG reaffirmed a “buy” rating on shares of Boyd Gaming Corp. in a research note on Thursday, June 2nd. Imperial Capital reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of Boyd Gaming Corp. in a research note on Wednesday, June 8th. Zacks Investment Research raised Boyd Gaming Corp. from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Wednesday, July 6th. Finally, Telsey Advisory Group decreased their price objective 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.
Shares of Boyd Gaming Corp. (NYSE:BYD) opened at 19.09 on Wednesday. Boyd Gaming Corp. has a 52 week low of $14.22 and a 52 week high of $21.43. The firm has a 50-day moving average price of $19.39 and a 200 day moving average price of $19.28. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 26.62 and a beta of 1.98.
Boyd Gaming Corp. (NYSE:BYD) last posted its earnings results on Wednesday, August 3rd. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm earned $544.90 million during the quarter, compared to the consensus estimate of $561.27 million. During the same period in the prior year, the company posted $0.24 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. On average, analysts forecast that Boyd Gaming Corp. will post $0.80 EPS for the current fiscal year.
In other Boyd Gaming Corp. news, EVP Marianne Boyd Johnson sold 89,360 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $19.83, for a total transaction of $1,772,008.80. Following the completion of the transaction, the executive vice president now owns 276,589 shares in the company, valued at approximately $5,484,759.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert L. Boughner sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $19.81, for a total value of $990,500.00. Following the transaction, the insider now owns 144,560 shares of the company’s stock, valued at approximately $2,863,733.60. The disclosure for this sale can be found here. Company insiders own 29.67% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Boyd Gaming Corp. by 8.9% in the second quarter. BlackRock Inc. now owns 6,089 shares of the company’s stock worth $111,000 after buying an additional 500 shares during the period. PineBridge Investments L.P. boosted its position in shares of Boyd Gaming Corp. by 4.1% in the second quarter. PineBridge Investments L.P. now owns 10,234 shares of the company’s stock worth $188,000 after buying an additional 403 shares during the period. Acrospire Investment Management LLC bought a new position in shares of Boyd Gaming Corp. during the first quarter worth approximately $190,000. Laurion Capital Management LP bought a new position in shares of Boyd Gaming Corp. during the second quarter worth approximately $206,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Boyd Gaming Corp. by 76.9% in the first quarter. Envestnet Asset Management Inc. now owns 10,104 shares of the company’s stock worth $209,000 after buying an additional 4,392 shares during the period. Institutional investors and hedge funds own 73.64% of the company’s stock.
Boyd Gaming Corp. Company Profile
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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