Boyd Gaming Co. (NYSE:BYD) has earned an average recommendation of “Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $29.14.
A number of research firms recently commented on BYD. Nomura boosted their target price on shares of Boyd Gaming to $42.00 and gave the stock a “buy” rating in a report on Tuesday. Stifel Nicolaus boosted their target price on shares of Boyd Gaming from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, October 27th. ValuEngine downgraded shares of Boyd Gaming from a “buy” rating to a “hold” rating in a report on Friday, December 1st. SunTrust Banks restated a “buy” rating and set a $27.00 price target on shares of Boyd Gaming in a report on Tuesday, October 24th. Finally, Zacks Investment Research lowered shares of Boyd Gaming from a “buy” rating to a “hold” rating in a report on Thursday, October 5th.
Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Boyd Gaming by 34.5% during the first quarter. Dimensional Fund Advisors LP now owns 522,507 shares of the company’s stock valued at $11,500,000 after purchasing an additional 133,947 shares in the last quarter. Aperio Group LLC grew its position in Boyd Gaming by 4.7% during the second quarter. Aperio Group LLC now owns 31,737 shares of the company’s stock valued at $787,000 after purchasing an additional 1,426 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Boyd Gaming during the second quarter valued at approximately $340,000. Great West Life Assurance Co. Can grew its position in Boyd Gaming by 40.4% during the second quarter. Great West Life Assurance Co. Can now owns 160,128 shares of the company’s stock valued at $3,970,000 after purchasing an additional 46,064 shares in the last quarter. Finally, Texas Permanent School Fund grew its position in Boyd Gaming by 1.0% during the second quarter. Texas Permanent School Fund now owns 60,351 shares of the company’s stock valued at $1,497,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 76.22% of the company’s stock.
Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, October 26th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Boyd Gaming had a return on equity of 13.82% and a net margin of 5.08%. The business had revenue of $587.70 million during the quarter, compared to the consensus estimate of $592.29 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. analysts forecast that Boyd Gaming will post 1.05 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Thursday, December 28th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.57%. Boyd Gaming’s dividend payout ratio is currently 19.23%.
About Boyd Gaming
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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