Boyd Gaming Co. (NYSE:BYD) has been given an average recommendation of “Buy” by the thirteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $36.44.
A number of research firms have commented on BYD. Morgan Stanley set a $34.00 price objective on Boyd Gaming and gave the stock a “buy” rating in a research note on Friday, April 26th. Deutsche Bank restated a “buy” rating and set a $40.00 price objective on shares of Boyd Gaming in a research note on Wednesday, July 31st. Stifel Nicolaus set a $36.00 price objective on Boyd Gaming and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wolfe Research began coverage on Boyd Gaming in a research note on Friday, June 14th. They set an “outperform” rating and a $37.00 price objective on the stock. Finally, ValuEngine lowered Boyd Gaming from a “hold” rating to a “sell” rating in a research note on Tuesday.
Several institutional investors and hedge funds have recently modified their holdings of BYD. Sageworth Trust Co bought a new position in shares of Boyd Gaming in the 1st quarter valued at $28,000. State of Alaska Department of Revenue bought a new position in shares of Boyd Gaming in the 1st quarter valued at $46,000. Resources Investment Advisors LLC. bought a new position in shares of Boyd Gaming in the 2nd quarter valued at $48,000. NEXT Financial Group Inc bought a new position in shares of Boyd Gaming in the 2nd quarter valued at $67,000. Finally, Strs Ohio increased its stake in shares of Boyd Gaming by 400.0% in 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 last quarter. Institutional investors own 66.29% of the company’s stock.
Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.01). Boyd Gaming had a return on equity of 14.13% and a net margin of 4.18%. The company had revenue of $846.13 million for the quarter, compared to the consensus estimate of $839.64 million. During the same quarter last year, the business earned $0.38 EPS. Boyd Gaming’s revenue was up 37.2% on a year-over-year basis. As a group, research analysts expect that Boyd Gaming will post 1.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, June 17th were paid a $0.07 dividend. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.06. The ex-dividend date was Friday, June 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.18%. Boyd Gaming’s dividend payout ratio (DPR) is presently 21.05%.
About Boyd Gaming
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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