Boyd Gaming (NYSE:BYD) Given New $75.00 Price Target at Wells Fargo & Company

Boyd Gaming (NYSE:BYD) had its price objective boosted by Wells Fargo & Company from $71.00 to $75.00 in a report issued on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

BYD has been the topic of several other reports. Barclays raised their price objective on Boyd Gaming from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday. Morgan Stanley raised shares of Boyd Gaming from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $66.00 to $74.00 in a research report on Wednesday, September 4th. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Macquarie decreased their target price on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Finally, Stifel Nicolaus increased their price target on Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.77.

Boyd Gaming Trading Up 1.1 %

NYSE BYD opened at $66.08 on Thursday. The company’s fifty day moving average price is $61.41 and its two-hundred day moving average price is $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 has a 12 month low of $49.34 and a 12 month high of $68.46. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.83 and a quick ratio of 0.79.

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

Boyd Gaming Dividend Announcement

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

Insider Buying and Selling

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the transaction, the chairman now owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Boyd Gaming 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 transaction of $4,404,619.90. Following the completion of the transaction, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction on Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the transaction, the director now owns 1,096 shares in the company, valued at approximately $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. Corporate insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Institutional investors and hedge funds have recently bought and sold shares of the business. Ariel Investments LLC raised its holdings in shares of Boyd Gaming by 12.5% in the 2nd quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock worth $167,046,000 after purchasing an additional 335,984 shares in the last quarter. Boston Partners increased its holdings in shares of Boyd Gaming by 10.0% in the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock valued at $203,276,000 after buying an additional 274,876 shares in the last quarter. Bamco Inc. NY lifted its position in shares of Boyd Gaming by 4.0% during the 1st quarter. Bamco Inc. NY now owns 1,899,344 shares of the company’s stock valued at $127,864,000 after acquiring an additional 73,491 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Boyd Gaming by 19.7% during the 2nd quarter. American Century Companies Inc. now owns 1,149,701 shares of the company’s stock worth $63,349,000 after acquiring an additional 189,226 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Boyd Gaming by 0.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,002,438 shares of the company’s stock worth $67,485,000 after acquiring an additional 3,087 shares in the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

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.