Boyd Gaming (NYSE:BYD) PT Lowered to $66.00 at Morgan Stanley

Boyd Gaming (NYSE:BYD) had its price target decreased by Morgan Stanley from $68.00 to $66.00 in a report released on Friday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company lowered their price objective on Boyd Gaming from $82.00 to $71.00 and set an overweight rating for the company in a research report on Friday, April 26th. JPMorgan Chase & Co. downgraded Boyd Gaming from an overweight rating to a neutral rating and lowered their price target for the stock from $80.00 to $67.00 in a report on Friday, April 26th. Royal Bank of Canada cut their price objective on shares of Boyd Gaming from $337.00 to $308.00 and set an outperform rating on the stock in a report on Thursday, May 16th. Deutsche Bank Aktiengesellschaft cut shares of Boyd Gaming from a buy rating to a hold rating and lowered their target price for the stock from $78.00 to $71.00 in a research note on Friday, April 26th. Finally, Truist Financial cut their price target on shares of Boyd Gaming from $80.00 to $75.00 and set a buy rating on the stock in a research note on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $90.92.

Boyd Gaming Stock Performance

BYD stock opened at $57.32 on Friday. Boyd Gaming has a one year low of $49.34 and a one year high of $73.00. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 10.29 and a beta of 1.58. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.77 and a current ratio of 0.80. The firm has a 50-day simple moving average of $53.90 and a two-hundred day simple moving average of $59.99.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.51 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.06). The firm had revenue of $960.52 million for the quarter, compared to the consensus estimate of $947.26 million. Boyd Gaming had a return on equity of 34.76% and a net margin of 14.91%. On average, equities analysts forecast that Boyd Gaming will post 6.06 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Saturday, June 15th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.19%. Boyd Gaming’s dividend payout ratio is presently 12.21%.

Boyd Gaming announced that its Board of Directors has authorized a stock repurchase program on Monday, May 13th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 9.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,874 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $53.38, for a total value of $100,034.12. Following the sale, the director now owns 2,338 shares in the company, valued at $124,802.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 27.94% of the company’s stock.

Institutional Trading of Boyd Gaming

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Boyd Gaming by 2.1% in the third quarter. Vanguard Group Inc. now owns 7,980,306 shares of the company’s stock valued at $485,442,000 after purchasing an additional 167,849 shares during the period. Cohen & Steers Inc. raised its stake in shares of Boyd Gaming by 34.4% during the 4th quarter. Cohen & Steers Inc. now owns 4,747,662 shares of the company’s stock worth $297,270,000 after buying an additional 1,216,121 shares during the period. Boston Partners lifted its position in shares of Boyd Gaming by 10.0% during the 1st 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 grew its stake in Boyd Gaming by 4.0% in 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 period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Boyd Gaming by 0.3% in 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 hedge funds and other institutional investors.

Boyd Gaming Company Profile

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.