Boyd Gaming Co. (BYD) Given Consensus Rating of “Buy” by Analysts

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Shares of Boyd Gaming Co. (NYSE:BYD) have received an average rating of “Buy” from the eleven analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $36.71.

A number of brokerages recently weighed in on BYD. Morgan Stanley set a $33.00 price objective on shares of Boyd Gaming and gave the company a “buy” rating in a research report on Friday, February 22nd. TheStreet upgraded shares of Boyd Gaming from a “c+” rating to a “b” rating in a research report on Monday, March 25th. Finally, ValuEngine downgraded shares of Boyd Gaming from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th.

Boyd Gaming stock traded down $0.17 during midday trading on Thursday, reaching $25.47. 57,312 shares of the company traded hands, compared to its average volume of 1,090,144. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 0.73 and a beta of 2.09. Boyd Gaming has a 12 month low of $18.98 and a 12 month high of $39.35. The company has a quick ratio of 0.68, a current ratio of 0.72 and a debt-to-equity ratio of 4.08.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.43 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.43. The company had revenue of $827.30 million for the quarter, compared to the consensus estimate of $826.52 million. Boyd Gaming had a net margin of 4.18% and a return on equity of 13.57%. The firm’s revenue for the quarter was up 36.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Sell-side analysts expect that Boyd Gaming will post 1.8 EPS for the current fiscal year.

In other Boyd Gaming news, CEO Keith Smith sold 100,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $29.41, for a total value of $2,941,000.00. Following the transaction, the chief executive officer now directly owns 1,339,355 shares in the company, valued at $39,390,430.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William R. Boyd sold 4,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $28.60, for a total transaction of $114,400.00. Following the completion of the transaction, the vice president now owns 34,015 shares in the company, valued at $972,829. The disclosure for this sale can be found here. Insiders sold 166,579 shares of company stock worth $4,893,971 over the last quarter. Insiders own 29.35% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BYD. Sageworth Trust Co bought a new stake in shares of Boyd Gaming during the 1st quarter valued at $28,000. State of Alaska Department of Revenue bought a new stake in shares of Boyd Gaming during the 1st quarter valued at $46,000. Rockefeller Capital Management L.P. bought a new stake in shares of Boyd Gaming during the 1st quarter valued at $48,000. Strs Ohio raised its position in shares of Boyd Gaming by 400.0% during the 1st quarter. Strs Ohio now owns 3,000 shares of the company’s stock valued at $82,000 after purchasing an additional 2,400 shares during the period. Finally, HWG Holdings LP bought a new stake in shares of Boyd Gaming during the 1st quarter valued at $89,000. Institutional investors and hedge funds own 70.91% of the company’s stock.

Boyd Gaming Company Profile

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 March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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