Boyd Gaming (BYD) Shares Gap Up to $35.11

Boyd Gaming Co. (NYSE:BYD) gapped up prior to trading on Monday . The stock had previously closed at $33.90, but opened at $35.11. Boyd Gaming shares last traded at $36.80, with a volume of 2265500 shares traded.

Several brokerages recently issued reports on BYD. Stifel Nicolaus raised their target price on shares of Boyd Gaming from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, October 27th. Zacks Investment Research cut shares of Boyd Gaming from a “buy” rating to a “hold” rating in a report on Friday. ValuEngine cut shares of Boyd Gaming from a “buy” rating to a “hold” rating in a report on Friday, December 1st. SunTrust Banks restated a “buy” rating and issued a $27.00 target price on shares of Boyd Gaming in a report on Tuesday, October 24th. Finally, Bank of America upgraded shares of Boyd Gaming from a “neutral” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Friday. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $30.80.

The stock has a market cap of $4,060.00, a P/E ratio of 44.34 and a beta of 1.82. The company has a quick ratio of 0.68, a current ratio of 0.73 and a debt-to-equity ratio of 2.95.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The business had revenue of $587.70 million for the quarter, compared to analysts’ expectations of $592.29 million. Boyd Gaming had a return on equity of 13.82% and a net margin of 5.08%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 EPS. equities research analysts forecast that Boyd Gaming Co. will post 1.04 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Thursday, December 28th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. Boyd Gaming’s payout ratio is 24.10%.

Several hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. raised its position in shares of 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 valued at $118,959,000 after purchasing an additional 1,181,986 shares during the period. State Street Corp increased its holdings in Boyd Gaming by 4.0% in the 2nd quarter. State Street Corp now owns 1,951,576 shares of the company’s stock valued at $48,421,000 after acquiring an additional 75,012 shares during the last quarter. Bamco Inc. NY increased its holdings in Boyd Gaming by 10.4% in the 3rd quarter. Bamco Inc. NY now owns 1,528,617 shares of the company’s stock valued at $39,820,000 after acquiring an additional 143,680 shares during the last quarter. FMR LLC increased its holdings in Boyd Gaming by 531.0% in the 2nd quarter. FMR LLC now owns 1,418,700 shares of the company’s stock valued at $35,199,000 after acquiring an additional 1,193,874 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Boyd Gaming in the 2nd quarter valued at $26,973,000. Hedge funds and other institutional investors own 76.22% of the company’s stock.

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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.

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