Boyd Gaming (NYSE:BYD) Hits New 52-Week Low – What’s Next?
by Jessica Moore · The Cerbat GemBoyd Gaming Corporation (NYSE:BYD – Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $74.54 and last traded at $74.6030, with a volume of 315210 shares changing hands. The stock had previously closed at $75.60.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Mizuho set a $104.00 target price on Boyd Gaming in a report on Friday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Boyd Gaming from $90.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Weiss Ratings cut Boyd Gaming from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Texas Capital raised Boyd Gaming to a “strong-buy” rating in a report on Wednesday, June 3rd. Finally, Susquehanna raised their price target on Boyd Gaming from $84.00 to $87.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $94.69.
Check Out Our Latest Stock Report on Boyd Gaming
Boyd Gaming Stock Performance
The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 3.21, a PEG ratio of 1.32 and a beta of 1.06. The stock’s 50-day moving average is $82.23 and its 200-day moving average is $83.68.
Boyd Gaming (NYSE:BYD – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. Boyd Gaming had a return on equity of 22.52% and a net margin of 44.34%.The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the company posted $1.87 EPS. Boyd Gaming’s quarterly revenue was up .0% compared to the same quarter last year. On average, analysts predict that Boyd Gaming Corporation will post 7.29 EPS for the current fiscal year.
Boyd Gaming Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.80 annualized dividend and a yield of 1.1%. Boyd Gaming’s dividend payout ratio is presently 3.52%.
Insider Buying and Selling at Boyd Gaming
In related news, CFO Josh Hirsberg sold 12,777 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total value of $1,146,863.52. Following the transaction, the chief financial officer owned 422,969 shares in the company, valued at $37,965,697.44. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.82% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC increased its position in Boyd Gaming by 11.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 77,572 shares of the company’s stock valued at $6,852,000 after buying an additional 7,688 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Boyd Gaming in the second quarter valued at $4,633,000. Integrated Wealth Concepts LLC acquired a new position in shares of Boyd Gaming during the second quarter valued at about $88,000. IFP Advisors Inc grew its holdings in shares of Boyd Gaming by 9.6% during the second quarter. IFP Advisors Inc now owns 3,141 shares of the company’s stock valued at $277,000 after buying an additional 275 shares during the last quarter. Finally, Nykredit A S bought a new stake in shares of Boyd Gaming during the second quarter worth about $214,000. 76.81% of the stock is owned by institutional investors.
About Boyd Gaming
Boyd Gaming Corporation is a gaming and hospitality company that owns and operates casinos, hotels, restaurants, entertainment venues and related amenities. Its properties offer casino games such as slots, table games and poker, along with lodging, dining, convention and entertainment services.
Founded in 1975 by gaming executive Sam Boyd, the company is headquartered in Las Vegas, Nevada. Boyd Gaming operates regional gaming properties across several U.S. states, including Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Ohio and Pennsylvania.