Boyd Gaming (BYD) Earns Hold Rating from Stifel Nicolaus
Several other analysts also recently weighed in on BYD. ValuEngine upgraded Boyd Gaming from a hold rating to a buy rating in a research note on Wednesday, September 6th. Zacks Investment Research upgraded Boyd Gaming from a hold rating to a buy rating and set a $29.00 price target on the stock in a research note on Wednesday, October 4th. Telsey Advisory Group boosted their price target on Boyd Gaming from $30.00 to $31.00 and gave the company an outperform rating in a research note on Thursday, October 12th. Morgan Stanley set a $28.00 price target on Boyd Gaming and gave the company a hold rating in a research note on Tuesday, October 24th. Finally, SunTrust Banks reiterated a buy rating and set a $27.00 price target on shares of Boyd Gaming in a research note on Tuesday, October 24th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Boyd Gaming has a consensus rating of Buy and a consensus price target of $29.13.
Boyd Gaming (NYSE:BYD) traded down $0.55 during trading on Thursday, reaching $35.26. The company’s stock had a trading volume of 987,254 shares, compared to its average volume of 1,182,485. The company has a current ratio of 0.73, a quick ratio of 0.68 and a debt-to-equity ratio of 2.95. The stock has a market cap of $4,027.66, a P/E ratio of 33.90 and a beta of 1.81. Boyd Gaming has a twelve month low of $19.19 and a twelve month high of $35.88.
Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The firm had revenue of $587.70 million for the quarter, compared to analysts’ expectations of $592.29 million. Boyd Gaming had a net margin of 5.08% and a return on equity of 13.82%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS. analysts expect that Boyd Gaming will post 1.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Thursday, December 28th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, December 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.57%. Boyd Gaming’s payout ratio is 19.23%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. boosted its stake in shares of Boyd Gaming by 34.9% in the third quarter. Point72 Asset Management L.P. now owns 4,566,570 shares of the company’s stock worth $118,959,000 after buying an additional 1,181,986 shares during the last quarter. State Street Corp boosted its stake in shares of Boyd Gaming by 4.0% in the second quarter. State Street Corp now owns 1,951,576 shares of the company’s stock worth $48,421,000 after buying an additional 75,012 shares during the last quarter. Bamco Inc. NY boosted its stake in shares of Boyd Gaming by 10.4% in the third quarter. Bamco Inc. NY now owns 1,528,617 shares of the company’s stock worth $39,820,000 after buying an additional 143,680 shares during the last quarter. FMR LLC boosted its stake in shares of Boyd Gaming by 531.0% in the second quarter. FMR LLC now owns 1,418,700 shares of the company’s stock worth $35,199,000 after buying an additional 1,193,874 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Boyd Gaming in the second quarter worth about $26,973,000. Hedge funds and other institutional investors own 76.22% of the company’s stock.
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Boyd Gaming Company Profile
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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