Boyd Gaming (BYD) Price Target Increased to $42.00 by Analysts at Nomura

Boyd Gaming (NYSE:BYD) had its price target raised by Nomura to $42.00 in a report published on Tuesday morning. Nomura currently has a buy rating on the stock.

A number of other research analysts have also issued reports on BYD. ValuEngine raised Boyd Gaming from a hold rating to a buy rating in a report on Wednesday, September 6th. Zacks Investment Research raised Boyd Gaming from a hold rating to a buy rating and set a $29.00 target price on the stock in a report on Wednesday, October 4th. Telsey Advisory Group lifted their target price on Boyd Gaming from $30.00 to $31.00 and gave the stock an outperform rating in a report on Thursday, October 12th. Morgan Stanley set a $28.00 target price on Boyd Gaming and gave the stock a hold rating in a report on Tuesday, October 24th. Finally, SunTrust Banks reissued a buy rating and issued a $27.00 price target on shares of Boyd Gaming in a research note on Tuesday, October 24th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Boyd Gaming has a consensus rating of Buy and an average price target of $29.13.

Boyd Gaming (NYSE BYD) opened at $35.26 on Tuesday. The company has a market capitalization of $4,027.66, a price-to-earnings ratio of 30.35 and a beta of 1.81. Boyd Gaming has a fifty-two week low of $19.19 and a fifty-two week high of $35.88. The company has a current ratio of 0.73, a quick ratio of 0.68 and a debt-to-equity ratio of 2.95.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, October 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm 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%. Boyd Gaming’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 earnings per share. sell-side analysts predict that Boyd Gaming will post 1.04 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors 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 dividend on an annualized basis and a yield of 0.57%. Boyd Gaming’s dividend payout ratio is currently 19.23%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new stake in Boyd Gaming during the 3rd quarter worth about $2,255,000. California Public Employees Retirement System boosted its position in Boyd Gaming by 3.7% during the 3rd quarter. California Public Employees Retirement System now owns 66,690 shares of the company’s stock worth $1,737,000 after acquiring an additional 2,390 shares during the period. Bamco Inc. NY boosted its position in Boyd Gaming by 10.4% during the 3rd quarter. Bamco Inc. NY now owns 1,528,617 shares of the company’s stock worth $39,820,000 after acquiring an additional 143,680 shares during the period. Cubist Systematic Strategies LLC boosted its position in Boyd Gaming by 15,392.7% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 57,168 shares of the company’s stock worth $1,489,000 after acquiring an additional 56,799 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in Boyd Gaming by 34.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 4,566,570 shares of the company’s stock worth $118,959,000 after acquiring an additional 1,181,986 shares during the period. 76.22% of the stock is currently owned by hedge funds and other institutional investors.

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Boyd Gaming Company Profile

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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