ValuEngine Upgrades Boyd Gaming (NYSE:BYD) to Hold

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ValuEngine upgraded shares of Boyd Gaming (NYSE:BYD) from a sell rating to a hold rating in a research note published on Monday, June 17th, ValuEngine reports.

Several other research firms have also weighed in on BYD. Morgan Stanley set a $33.00 target price on Boyd Gaming and gave the company a buy rating in a report on Friday, February 22nd. TheStreet upgraded Boyd Gaming from a c+ rating to a b rating in a report on Monday, March 25th. Finally, Wolfe Research initiated coverage on Boyd Gaming in a report on Friday, June 14th. They set an outperform rating and a $37.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $35.11.

Shares of NYSE:BYD traded up $0.54 during midday trading on Monday, hitting $27.56. 1,175,200 shares of the stock were exchanged, compared to its average volume of 1,285,388. 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 has a 52-week low of $18.98 and a 52-week high of $39.35. The stock’s fifty day moving average is $26.01. The company has a market cap of $2.99 billion, a P/E ratio of 20.72, a PEG ratio of 0.75 and a beta of 2.13.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.43 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. Boyd Gaming had a return on equity of 13.57% and a net margin of 4.18%. The business had revenue of $827.30 million during the quarter, compared to analyst estimates of $826.52 million. During the same period last year, the company earned $0.39 earnings per share. Boyd Gaming’s quarterly revenue was up 36.5% compared to the same quarter last year. On average, analysts anticipate that Boyd Gaming will post 1.8 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be given a $0.07 dividend. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, June 14th. Boyd Gaming’s dividend payout ratio (DPR) is currently 21.05%.

Large investors have recently modified their holdings of the company. Arizona State Retirement System increased its stake in shares of Boyd Gaming by 1.0% in the 4th quarter. Arizona State Retirement System now owns 57,985 shares of the company’s stock worth $1,205,000 after acquiring an additional 587 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Boyd Gaming by 53.2% in the 4th quarter. Rhumbline Advisers now owns 244,347 shares of the company’s stock valued at $5,078,000 after buying an additional 84,856 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Boyd Gaming by 1,978.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 671,007 shares of the company’s stock valued at $32,000 after buying an additional 638,716 shares during the period. Intrust Bank NA acquired a new stake in shares of Boyd Gaming during the 4th quarter worth about $223,000. Finally, LPL Financial LLC raised its position in shares of Boyd Gaming by 3.1% during the 4th quarter. LPL Financial LLC now owns 13,926 shares of the company’s stock worth $289,000 after acquiring an additional 422 shares in the last quarter. 66.26% of the stock is currently owned by institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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