Boyd Gaming (BYD) Coverage Initiated by Analysts at Jefferies Group
Equities researchers at Jefferies Group initiated coverage on shares of Boyd Gaming (NYSE:BYD) in a research note issued to investors on Thursday, The Fly reports. The firm set a “hold” rating on the stock.
BYD has been the topic of several other reports. Stifel Nicolaus reissued a “hold” rating on shares of Boyd Gaming in a research report on Thursday, December 21st. Argus assumed coverage on Boyd Gaming in a research report on Wednesday. They issued a “buy” rating and a $44.00 target price on the stock. Zacks Investment Research cut Boyd Gaming from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Deutsche Bank raised their target price on Boyd Gaming to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Finally, Nomura lifted their price objective on Boyd Gaming to $42.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $31.69.
Boyd Gaming (NYSE BYD) traded up $1.05 during midday trading on Thursday, reaching $37.21. The company had a trading volume of 1,178,600 shares, compared to its average volume of 1,205,136. The company has a market cap of $4,190.00, a P/E ratio of 44.83 and a beta of 1.82. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.73 and a quick ratio of 0.68. Boyd Gaming has a 52 week low of $19.20 and a 52 week high of $37.24.
Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, October 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $587.70 million during the quarter, compared to analysts’ expectations of $592.29 million. Boyd Gaming had a return on equity of 13.82% and a net margin of 5.08%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 earnings per share. equities research analysts anticipate that Boyd Gaming will post 1.04 EPS for the current year.
Hedge funds have recently bought and sold shares of the company. Bamco Inc. NY lifted its position in shares of Boyd Gaming by 10.4% during the 3rd quarter. Bamco Inc. NY now owns 1,528,617 shares of the company’s stock valued at $39,820,000 after buying an additional 143,680 shares in the last quarter. Pinebridge Investments L.P. lifted its holdings in Boyd Gaming by 12.4% in the 3rd quarter. Pinebridge Investments L.P. now owns 91,213 shares of the company’s stock worth $2,376,000 after purchasing an additional 10,052 shares in the last quarter. AHL Partners LLP purchased a new position in Boyd Gaming in the 2nd quarter worth approximately $4,577,000. Tudor Investment Corp ET AL purchased a new position in Boyd Gaming in the 2nd quarter worth approximately $549,000. Finally, Boston Advisors LLC lifted its holdings in Boyd Gaming by 418.7% in the 3rd quarter. Boston Advisors LLC now owns 234,795 shares of the company’s stock worth $6,116,000 after purchasing an additional 189,525 shares in the last quarter. 76.22% of the stock is currently owned by hedge funds and other institutional investors.
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About Boyd Gaming
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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