Boyd Gaming (NYSE:BYD – Get Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.
Other research analysts also recently issued reports about the company. Susquehanna raised their price objective on Boyd Gaming from $74.00 to $79.00 in a research note on Wednesday, April 27th. Susquehanna Bancshares raised Boyd Gaming from a “neutral” rating to a “positive” rating and raised their price objective for the company from $73.00 to $74.00 in a research note on Tuesday, April 26th. Morgan Stanley lowered Boyd Gaming from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $82.00 to $76.00 in a report on Monday, April 25th. Finally, Berenberg Bank initiated coverage on Boyd Gaming in a report on Thursday, May 12th. They issued a “buy” rating and a $78.00 target price on the stock. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boyd Gaming has a consensus rating of “Buy” and a consensus price target of $81.75.
Shares of NYSE:BYD traded down $3.49 during midday trading on Friday, reaching $55.54. The company had a trading volume of 1,517,280 shares, compared to its average volume of 1,158,946. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.96 and a current ratio of 0.99. Boyd Gaming has a 1-year low of $50.38 and a 1-year high of $72.72. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 12.02 and a beta of 1.90. The company has a fifty day simple moving average of $59.54 and a two-hundred day simple moving average of $62.53.
Boyd Gaming (NYSE:BYD – Get Rating) last announced its quarterly earnings data on Tuesday, April 26th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.16. The firm had revenue of $860.74 million during the quarter, compared to the consensus estimate of $836.15 million. Boyd Gaming had a return on equity of 42.72% and a net margin of 15.09%. During the same period in the prior year, the business earned $0.93 EPS. Analysts expect that Boyd Gaming will post 5.47 EPS for the current year.
In other Boyd Gaming news, VP William R. Boyd sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $53.74, for a total value of $1,074,800.00. Following the completion of the transaction, the vice president now directly owns 2,056,522 shares of the company’s stock, valued at $110,517,492.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Keith Smith sold 101,675 shares of the company’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $59.85, for a total value of $6,085,248.75. Following the transaction, the chief executive officer now directly owns 1,261,362 shares of the company’s stock, valued at $75,492,515.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 256,365 shares of company stock valued at $14,862,264. 27.94% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Whittier Trust Co. acquired a new stake in Boyd Gaming during the first quarter worth approximately $27,000. Prospera Financial Services Inc bought a new position in Boyd Gaming during the 1st quarter worth $33,000. Byrne Asset Management LLC bought a new position in Boyd Gaming during the 4th quarter worth $34,000. Global Wealth Management Investment Advisory Inc. bought a new position in shares of Boyd Gaming in the 3rd quarter worth about $40,000. Finally, Quent Capital LLC bought a new position in shares of Boyd Gaming in the 4th quarter worth about $45,000. Hedge funds and other institutional investors own 70.27% of the company’s stock.
Boyd Gaming Company Profile (Get Rating)
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of December 31, 2021, the company operated 28 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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