Boyd Gaming Co. (NYSE:BYD) EVP Marianne Boyd Johnson sold 89,783 shares of Boyd Gaming stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $33.87, for a total transaction of $3,040,950.21. Following the sale, the executive vice president now owns 252,930 shares of the company’s stock, valued at $8,566,739.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Boyd Gaming Co. (NYSE BYD) traded up $0.09 during midday trading on Friday, hitting $33.20. 1,432,157 shares of the stock traded hands, compared to its average volume of 1,732,167. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 2.77. Boyd Gaming Co. has a twelve month low of $19.66 and a twelve month high of $40.44. The stock has a market capitalization of $3,725.14, a price-to-earnings ratio of 20.24 and a beta of 1.92.
Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.04). Boyd Gaming had a net margin of 7.94% and a return on equity of 11.47%. The business had revenue of $590.83 million during the quarter, compared to analysts’ expectations of $595.28 million. During the same period in the previous year, the business posted $0.38 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. analysts forecast that Boyd Gaming Co. will post 1.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Friday, March 16th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $1.80 dividend on an annualized basis and a yield of 5.42%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.05. Boyd Gaming’s payout ratio is currently 12.20%.
A number of institutional investors have recently modified their holdings of BYD. Strs Ohio lifted its stake in Boyd Gaming by 177.8% in the fourth quarter. Strs Ohio now owns 5,000 shares of the company’s stock worth $175,000 after acquiring an additional 3,200 shares during the last quarter. Advisory Services Network LLC purchased a new position in Boyd Gaming in the fourth quarter worth approximately $183,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Boyd Gaming by 33.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,559 shares of the company’s stock worth $195,000 after acquiring an additional 1,392 shares during the last quarter. Creative Planning purchased a new position in Boyd Gaming in the fourth quarter worth approximately $206,000. Finally, Miles Capital Inc. purchased a new position in Boyd Gaming in the fourth quarter worth approximately $213,000. Institutional investors own 74.77% of the company’s stock.
A number of brokerages have weighed in on BYD. Zacks Investment Research upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Tuesday, January 9th. ValuEngine cut shares of Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Morgan Stanley reiterated an “equal weight” rating and set a $34.00 price target (down from $35.00) on shares of Boyd Gaming in a research report on Wednesday, February 21st. Deutsche Bank lifted their price target on shares of Boyd Gaming to $47.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Argus began coverage on shares of Boyd Gaming in a research report on Wednesday, January 17th. They set a “buy” rating and a $44.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $35.81.
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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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