Boyd Gaming (NYSE:BYD) Reaches New 1-Year Low – Should You Sell?

by · The Markets Daily

Boyd Gaming Corporation (NYSE:BYD – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $69.81 and last traded at $70.1740, with a volume of 12443 shares traded. The stock had previously closed at $71.23.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Texas Capital upgraded Boyd Gaming to a “strong-buy” rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. lifted their price objective on Boyd Gaming from $90.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Wells Fargo & Company upped their target price on Boyd Gaming from $81.00 to $88.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Morgan Stanley decreased their target price on shares of Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating for the company in a research report on Monday, July 27th. Finally, Stifel Nicolaus raised their price target on shares of Boyd Gaming from $91.00 to $92.00 and gave the stock a “hold” rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $94.69.

Read Our Latest Stock Report on BYD

Boyd Gaming Stock Down 1.2%

The firm has a market cap of $5.11 billion, a PE ratio of 3.10, a P/E/G ratio of 1.27 and a beta of 1.06. The firm’s 50-day moving average price is $80.68 and its two-hundred day moving average price is $83.36. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.74 and a current ratio of 0.77.

Boyd Gaming (NYSE:BYD – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.04. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Boyd Gaming had a return on equity of 22.52% and a net margin of 44.34%.The business’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.87 EPS. As a group, equities research analysts expect that Boyd Gaming Corporation will post 7.29 EPS for the current fiscal year.

Boyd Gaming Announces Dividend

The firm also recently declared 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 (DPR) is presently 3.52%.

Insiders Place Their Bets

In other Boyd Gaming news, CFO Josh Hirsberg sold 12,777 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total transaction of $1,146,863.52. Following the completion of the sale, the chief financial officer directly 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 through this hyperlink. 22.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boyd Gaming

A number of hedge funds have recently made changes to their positions in BYD. Altshuler Shaham Ltd increased its position in Boyd Gaming by 54.3% in the 1st quarter. Altshuler Shaham Ltd now owns 452 shares of the company’s stock valued at $37,000 after acquiring an additional 159 shares during the period. Bessemer Group Inc. raised its stake in shares of Boyd Gaming by 62.8% during the 1st quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock worth $43,000 after purchasing an additional 203 shares during the period. Blue Trust Inc. raised its stake in shares of Boyd Gaming by 23.0% during the 1st quarter. Blue Trust Inc. now owns 653 shares of the company’s stock valued at $54,000 after purchasing an additional 122 shares during the period. Global Retirement Partners LLC bought a new stake in Boyd Gaming during the 2nd quarter worth approximately $59,000. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of Boyd Gaming in the 2nd quarter valued at $74,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Company Profile

(Get Free Report)

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.

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