Boyd Gaming (NYSE:BYD) Given New $70.00 Price Target at Barclays

Boyd Gaming (NYSE:BYD) had its target price raised by Barclays from $68.00 to $70.00 in a research report report published on Thursday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

BYD has been the topic of a number of other research reports. Bank of America lifted their target price on Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Stifel Nicolaus increased their target price on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Morgan Stanley upgraded shares of Boyd Gaming from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $66.00 to $74.00 in a research note on Wednesday, September 4th. Finally, Macquarie reduced their price objective on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.77.

Boyd Gaming Stock Up 1.1 %

Shares of BYD stock opened at $66.08 on Thursday. Boyd Gaming has a 12-month low of $49.34 and a 12-month high of $68.46. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70. The firm has a fifty day moving average of $61.41 and a 200-day moving average of $58.52. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 11.86 and a beta of 1.57.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, July 25th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.09. The firm had revenue of $967.50 million during the quarter, compared to analyst estimates of $909.49 million. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.58 EPS. As a group, equities research analysts predict that Boyd Gaming will post 6.25 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were paid a $0.17 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.68 annualized dividend and a yield of 1.03%. Boyd Gaming’s dividend payout ratio is 12.21%.

Insider Activity

In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total value of $4,404,619.90. Following the sale, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the transaction, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christine J. Spadafor sold 1,242 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the sale, the director now owns 1,096 shares of the company’s stock, valued at $66,154.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 27.94% of the company’s stock.

Institutional Trading of Boyd Gaming

Several institutional investors have recently added to or reduced their stakes in the company. Retirement Systems of Alabama lifted its holdings in shares of Boyd Gaming by 14.8% during the first quarter. Retirement Systems of Alabama now owns 223,978 shares of the company’s stock worth $15,078,000 after buying an additional 28,844 shares in the last quarter. Sei Investments Co. boosted its holdings in Boyd Gaming by 14.7% in the 1st quarter. Sei Investments Co. now owns 398,823 shares of the company’s stock valued at $26,849,000 after purchasing an additional 51,252 shares during the period. Alaska Permanent Fund Corp grew its position in shares of Boyd Gaming by 301.7% during the 1st quarter. Alaska Permanent Fund Corp now owns 28,120 shares of the company’s stock worth $1,893,000 after purchasing an additional 21,120 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Boyd Gaming during the first quarter worth approximately $930,000. Finally, Banco Santander S.A. increased its holdings in shares of Boyd Gaming by 34.0% during the first quarter. Banco Santander S.A. now owns 187,492 shares of the company’s stock worth $12,622,000 after purchasing an additional 47,606 shares during the period. 76.81% of the stock is currently owned by institutional investors.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.