Shares of Boyd Gaming Corporation (NYSE:BYD) have been given an average recommendation of “Buy” by the seventeen brokerages that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $27.93.
BYD has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Boyd Gaming from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. ValuEngine upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. SunTrust Banks restated a “buy” rating and set a $27.00 price target on shares of Boyd Gaming in a report on Tuesday, October 24th. Telsey Advisory Group raised their price target on shares of Boyd Gaming from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, October 12th. Finally, Morgan Stanley set a $28.00 price target on shares of Boyd Gaming and gave the stock a “hold” rating in a report on Tuesday, October 24th.
Shares of Boyd Gaming (NYSE BYD) traded down $0.57 on Thursday, hitting $31.82. 713,514 shares of the company’s stock traded hands, compared to its average volume of 1,268,363. Boyd Gaming has a one year low of $19.19 and a one year high of $33.02. The firm has a market capitalization of $3,590.00, a PE ratio of 26.67 and a beta of 1.81. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.68 and a current ratio of 0.73.
Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, October 26th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). Boyd Gaming had a return on equity of 13.82% and a net margin of 5.08%. The firm had revenue of $587.70 million during the quarter, compared to analyst estimates of $592.29 million. During the same quarter in the previous year, the business earned $0.14 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. sell-side analysts forecast that Boyd Gaming will post 1.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Thursday, December 28th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Wednesday, December 27th. Boyd Gaming’s dividend payout ratio is currently 24.10%.
Several hedge funds have recently bought and sold shares of BYD. GSA Capital Partners LLP acquired a new stake in Boyd Gaming in the third quarter valued at approximately $2,255,000. California Public Employees Retirement System lifted its stake in Boyd Gaming by 3.7% in the third quarter. California Public Employees Retirement System now owns 66,690 shares of the company’s stock valued at $1,737,000 after acquiring an additional 2,390 shares during the last quarter. Bamco Inc. NY lifted its stake in Boyd Gaming by 10.4% in the third quarter. Bamco Inc. NY now owns 1,528,617 shares of the company’s stock valued at $39,820,000 after acquiring an additional 143,680 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in Boyd Gaming by 15,392.7% in the third quarter. Cubist Systematic Strategies LLC now owns 57,168 shares of the company’s stock valued at $1,489,000 after acquiring an additional 56,799 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in 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 valued at $118,959,000 after acquiring an additional 1,181,986 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.
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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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