Boyd Gaming (NYSE:BYD) Given a $36.00 Price Target at Stifel Nicolaus

Stifel Nicolaus set a $36.00 price objective on Boyd Gaming (NYSE:BYD) in a research note published on Wednesday, TipRanks reports. The brokerage currently has a buy rating on the stock.

BYD has been the topic of several other reports. ValuEngine lowered shares of Boyd Gaming from a hold rating to a sell rating in a report on Thursday, July 11th. Deutsche Bank reissued a buy rating and set a $40.00 price objective on shares of Boyd Gaming in a report on Wednesday. Morgan Stanley set a $34.00 price objective on shares of Boyd Gaming and gave the company a buy rating in a report on Friday, April 26th. Susquehanna Bancshares initiated coverage on shares of Boyd Gaming in a report on Wednesday, July 24th. They set a neutral rating and a $28.00 price objective on the stock. Finally, Telsey Advisory Group raised shares of Boyd Gaming from a market perform rating to an outperform rating and lifted their price objective for the company from $31.00 to $36.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. Boyd Gaming has an average rating of Buy and a consensus target price of $35.00.

NYSE BYD traded up $0.25 during trading on Wednesday, hitting $26.10. The stock had a trading volume of 1,616,319 shares, compared to its average volume of 1,258,760. The firm’s 50 day moving average price is $26.79. The company has a debt-to-equity ratio of 4.08, a current ratio of 0.72 and a quick ratio of 0.68. Boyd Gaming has a one year low of $18.98 and a one year high of $37.39. The stock has a market cap of $2.90 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 1.07 and a beta of 2.13.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.01). Boyd Gaming had a net margin of 4.18% and a return on equity of 13.57%. The company had revenue of $846.13 million for the quarter, compared to the consensus estimate of $839.64 million. During the same period in the prior year, the firm posted $0.38 EPS. The business’s revenue was up 37.2% on a year-over-year basis. On average, sell-side analysts expect that Boyd Gaming will post 1.74 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, June 17th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, June 14th. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.07%. Boyd Gaming’s payout ratio is 21.05%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Swiss National Bank grew its holdings in shares of Boyd Gaming by 2.2% during the second quarter. Swiss National Bank now owns 156,600 shares of the company’s stock valued at $4,219,000 after buying an additional 3,300 shares during the last quarter. III Capital Management acquired a new position in Boyd Gaming during the second quarter valued at $1,323,000. Stevens Capital Management LP lifted its position in Boyd Gaming by 1.8% during the second quarter. Stevens Capital Management LP now owns 40,961 shares of the company’s stock valued at $1,103,000 after purchasing an additional 719 shares during the period. Advisor Group Inc. lifted its position in Boyd Gaming by 27.8% during the second quarter. Advisor Group Inc. now owns 4,532 shares of the company’s stock valued at $122,000 after purchasing an additional 986 shares during the period. Finally, Dupont Capital Management Corp lifted its position in Boyd Gaming by 23.5% during the second quarter. Dupont Capital Management Corp now owns 43,057 shares of the company’s stock valued at $1,160,000 after purchasing an additional 8,203 shares during the period. 66.43% of the stock is currently owned by hedge funds and other institutional investors.

About Boyd Gaming

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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Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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