Brokerages Set Boyd Gaming Co. (BYD) PT at $30.23

Boyd Gaming Co. (NYSE:BYD) has received an average recommendation of “Buy” from the seventeen analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $30.93.

BYD has been the topic of several analyst reports. Zacks Investment Research raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Tuesday. Bank of America raised shares of Boyd Gaming from a “neutral” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Friday, January 5th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Boyd Gaming in a report on Thursday, December 21st. Nomura raised their target price on shares of Boyd Gaming to $42.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Finally, Deutsche Bank raised their target price on shares of Boyd Gaming to $37.00 and gave the company a “buy” rating in a report on Wednesday, December 6th.

Shares of Boyd Gaming (NYSE BYD) traded up $0.83 on Monday, hitting $36.81. 839,656 shares of the stock traded hands, compared to its average volume of 1,444,829. The firm has a market capitalization of $4,150.00, a PE ratio of 44.35 and a beta of 1.82. Boyd Gaming has a 1-year low of $19.19 and a 1-year high of $37.07. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.73 and a quick ratio of 0.68.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The business had revenue of $587.70 million for the quarter, compared to analyst estimates of $592.29 million. Boyd Gaming had a return on equity of 13.82% and a net margin of 5.08%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 EPS. equities research analysts forecast that Boyd Gaming will post 1.04 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Thursday, December 28th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $0.20 annualized dividend and a yield of 0.54%. Boyd Gaming’s dividend payout ratio is currently 24.10%.

Institutional investors have recently made changes to their positions in the business. Bamco Inc. NY increased its stake in Boyd Gaming by 10.4% in the third quarter. Bamco Inc. NY now owns 1,528,617 shares of the company’s stock valued at $39,820,000 after purchasing an additional 143,680 shares during the last quarter. Pinebridge Investments L.P. grew its position in shares of Boyd Gaming by 12.4% during the third quarter. Pinebridge Investments L.P. now owns 91,213 shares of the company’s stock worth $2,376,000 after acquiring an additional 10,052 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Boyd Gaming during the second quarter worth approximately $549,000. AHL Partners LLP purchased a new position in shares of Boyd Gaming during the second quarter worth approximately $4,577,000. Finally, Cipher Capital LP grew its position in shares of Boyd Gaming by 16.3% during the third quarter. Cipher Capital LP now owns 148,143 shares of the company’s stock worth $3,859,000 after acquiring an additional 20,738 shares during the last quarter. Institutional investors own 76.22% of the company’s stock.

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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.

Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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