Boyd Gaming (NYSE:BYD) Stock Gets Price Target Cut from Stifel Nicolaus

by · The Markets Daily

Boyd Gaming (NYSE:BYD – Free Report) had its price target reduced by Stifel Nicolaus from $92.00 to $80.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. They currently have a hold rating on the stock.

BYD has been the subject of several other reports. Truist Financial reduced their target price on shares of Boyd Gaming from $110.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, October 20th. JPMorgan Chase & Co. decreased their target price on shares of Boyd Gaming from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 20th. Barclays lowered their price target on shares of Boyd Gaming from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday. Mizuho dropped their price target on shares of Boyd Gaming from $104.00 to $102.00 and set an “outperform” rating for the company in a research report on Wednesday, October 7th. Finally, Wolfe Research began coverage on shares of Boyd Gaming in a research report on Wednesday, September 2nd. They issued a “peer perform” rating for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Boyd Gaming currently has a consensus rating of “Moderate Buy” and an average target price of $89.62.

Check Out Our Latest Analysis on BYD

Boyd Gaming Stock Performance

NYSE:BYD opened at $71.57 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.74 and a current ratio of 0.77. The stock has a 50-day simple moving average of $74.20 and a two-hundred day simple moving average of $81.57. The firm has a market capitalization of $5.20 billion, a PE ratio of 10.81, a P/E/G ratio of 1.28 and a beta of 1.12. Boyd Gaming has a 52-week low of $65.00 and a 52-week high of $91.41.

Boyd Gaming (NYSE:BYD – Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $1.67 EPS for the quarter, hitting the consensus estimate of $1.67. Boyd Gaming had a return on equity of 22.10% and a net margin of 12.29%. The firm had revenue of $990.46 million for the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the company earned $1.72 earnings per share. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Analysts forecast that Boyd Gaming will post 7.10 EPS for the current year.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Tuesday, September 15th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. Boyd Gaming’s dividend payout ratio (DPR) is currently 12.08%.

Insider Activity

In related news, CFO Josh Hirsberg sold 12,777 shares of Boyd Gaming stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total transaction of $1,146,863.52. Following the sale, the chief financial officer owned 422,969 shares of the company’s stock, valued at approximately $37,965,697.44. This trade represents a 2.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 22.82% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd grew its holdings in Boyd Gaming by 54.3% during the 1st quarter. Altshuler Shaham Ltd now owns 452 shares of the company’s stock valued at $37,000 after buying an additional 159 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Boyd Gaming by 62.8% during the first quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock valued at $43,000 after buying an additional 203 shares during the last quarter. Blue Trust Inc. raised its position in shares of Boyd Gaming by 23.0% during the first quarter. Blue Trust Inc. now owns 653 shares of the company’s stock valued at $54,000 after buying an additional 122 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Boyd Gaming during the second quarter valued at approximately $59,000. Finally, Persistent Asset Partners Ltd purchased a new position in shares of Boyd Gaming in the second quarter worth $74,000. 76.81% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Boyd Gaming

Here are the key news stories impacting Boyd Gaming this week:

  • Positive Sentiment: Boyd returned approximately $180 million to shareholders during the third quarter, including $164 million in share repurchases and a $0.20-per-share dividend. Management continues to target roughly $150 million of buybacks each quarter, supporting per-share results and potentially signaling confidence in the stock. Boyd Gaming: 3 Key Takeaways for Long-Term Investors
  • Positive Sentiment: Growth in Boyd’s Midwest and South properties, along with property investments and online operations, helped offset softness in the Las Vegas Locals and destination markets. The company’s diversified portfolio remains a key long-term support. Boyd Gaming leans on growth in the Midwest and South as Las Vegas tourism drags
  • Neutral Sentiment: Third-quarter adjusted earnings were approximately $1.67 per share, in line with the consensus estimate and slightly above one estimate of $1.65. However, earnings declined from $1.72 per share a year earlier, while adjusted EBITDAR was also modestly lower year over year. Boyd Gaming surpasses Q3 earnings estimates
  • Negative Sentiment: Revenue fell about 1.3% year over year to $990.5 million, missing the roughly $1 billion analyst estimate. Weaker Las Vegas visitor demand was the primary concern, raising questions about near-term regional and destination casino trends. Boyd Gaming misses Q3 earnings estimates as Las Vegas visitor demand weakens
  • Negative Sentiment: Stifel Nicolaus cut its price target from $92 to $80 and assigned a “hold” rating, reflecting more cautious expectations following the revenue miss and Las Vegas weakness. Stifel Nicolaus rating update

About Boyd Gaming

(Get Free Report)

Boyd Gaming Corporation is a gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates casinos, hotels, restaurants, entertainment venues and related amenities under brands including Sam’s Town, The Orleans, Gold Coast, Suncoast and Fremont.

Boyd Gaming serves customers across several U.S. states, with a significant presence in Nevada as well as properties in the Midwest and South. Its portfolio includes destination resorts, regional casinos and racetracks offering slot machines, table games, poker, sports betting and other gaming experiences.

The company also operates online gaming and sports-wagering businesses in selected markets, including through partnerships and digital platforms.

Further Reading